I hate to play the I told you so card, so I won't do it.
Pro Football Talk got their hands on Vick's real contract numbers.
For starters, the sixth year voids if he participates in 35 percent of the snaps in any year of the deal. It’s actually a five-year, $80 million deal.
Of the amount, $32.5 million is fully guaranteed, and $3 million is guaranteed for injury only.
That makes the total guaranteed $35.5 million — $4.5 million less than the reported guarantee of $40 million. (It’s also less than the guaranteed money Vick would have received in 2011 and 2012, if the Eagles had used the franchise tag on him again in 2012.)
There are bonuses, however: If the Eagles win the Super Bowl in 2011 or 2012, and Vick participates in 77.5% of the Eagles' plays during the regular season, he can earn an additional $3 million.
The yearly breakdown goes like this:
2011: $20 million
2012: $12.5 million
2013: $15.5 million
2014: $15.5 million
2015: $16.5 million
This works out better for Vick over the first three years of the contract, where he could make $48 million plus incentives. The sixth year will almost certainly not happen, since, as PFT notes, there's no way the Eagles would keep Vick around if he never participates in more than a third of the team's snaps in any of the first five seasons.
Like McNabb's reported deal with the Redskins last year, and most contracts the Eagles have handed out over the last decade, the deal is largely in the team's favor. Vick will likely never earn the full $100 million, and he's only guaranteed $35.5 million… at least 12 of which is owed to creditors.
Not only did the Eagles lessen their burden over the next two seasons (about $5 million less than franchising him) and lower their cap hit (by about $2 million), but they also provided Vick real incentives to stay healthy and win. Well done, Howie.