Shockingly, Michael Vick’s $100 Million Contract is Worth Nowhere Near $100 Million

Michael_vick_prison
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.

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10 Responses

  1. Wow kyle. Youre the first person to note that football contracts are incentive based. What a groundbreaking reporter you are. Back to your reguraly scheduled googling, copying, and pasting posts mixed it with your ticket scalping posts. You’ve made a post today shilling tshirts and marlins phils tickets.

  2. Stay healthy? Playing behind that Chinese fire drill impersonating an offensive line? If I had a kid, I’d bet his/her college fund that Vick won’t play more than 12 games this season. Meanwhile, regarding the contract, I for one don’t see Vick being her six years from now, hell, he might reach four, if injuries don’t do in Mike, then fatboy Reid surely will because the minute Andy spies some college wunderkind that makes his heart do somersualts, he’ll move heaven and earth to draft him, then rudely push Vick out the door just like he did McNabb.

  3. sam – which prep kid picked on you growing up? so much hatred for a guy that does an amazing job, there has to be something wrong with you…maybe just bitter that you couldn’t do any better with your daily job?

  4. hey idiot no contract in the nfl is worth what it is signed for considering they dont have guaranteed contracts. now move on to more important sports news like your love affair with hunter pence

  5. Last night the contract was broken down. Mike Vic only gets to keep 300 grand this season. I’m happy the guy has turned his life around.I’m thinking the first year is 20 million so he can have something left over after he’s done paying people off. He bought his woman a 90 grand Porsche before the contract, so I’m not sure if I can believe the breakdown exactly.

  6. what is the logo on his hat and shirt? Vick is not equal to us? That’s true. Morally and ethically he is probably < most of us.

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