The truth already has trickled out on the contract between the Eagles and quarterback Mike Vick, which is worth “up to” $10 million for one year.
Per a source with knowledge of the contract, Vick received a signing bonus of $3.5 million. He also will receive a non-guaranteed of $3.5 million. That’s a base rate of $7 million.
The rest comes from incentives. He can earn a $500,000 in per-game roster bonuses; he gets $31,250 for each game he’s on the 53-man roster. Vick gets another $1.5 million if he participates in 90 percent of the offensive snaps, and $1 million if the Eagles win the Super Bowl (and if he plays in it).
So it’s a one-year, $7 million deal with $3 million in incentives.
UPDATE 9:14 p.m. ET: The play-time incentive has lower levels, with $$1.2 available if he participates in 80 percent of the snaps, $900,000 if Vick participates in 70 percent of the snaps, $700,000 for 60 percent of the snaps, and $500,000 for 50 percent. The amounts aren’t cumulative; he gets one payment based on his total playing time. Also, the Super Bowl bonus has lower levels, with smaller payments based on postseason season. The maximum available is $1 million, if the Eagles win the Super Bowl.