Vicks new contract...6 yrs $100 Million!

#1
badkarma

badkarma

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#1
Wow! I would say that is quiet the investment...that will buy a few...things...

Eagles agreed to terms with QB Michael Vick on a six-year, $100 million contract with $40 million guaranteed.
 
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#5
#5
$40 mil. guaranteed.

I'm sure there is an "early out" for the iggles in the deal somewhere.
 
#6
#6
It might just be me but I think Vick is getting paid 15-20 million more than his market value. Good for him though.
 
#7
#7
If I was Philly I would have waited to make sure this just wasn't a one year wonder type deal. Not to mention its stupid to give a 31 year old QB, who depends on his legs and speed, a six year deal....
 
#8
#8
Terrible deal.

1) He's an ex-con. He got out of jail two years ago. Look, I think he has changed. But giving an ex-con $100M and $40M guarenteed just doesn't seem smart to me.

2) He's a 31 year old QB that relies mainly on his legs. This deal takes him through 37. Which means you are saying "Mike Vick will be able to be an elite QB at 37 even though he can't run anymore" which is a huge leap of faith.

3) He's had two great years. One in 2002. One this past year. While still good, he wasn't as good last down the stretch. He is also a guarentee to miss 2-3 games a year. So you are paying him $16.6M for 13 games in the regular season.
 
#9
#9
Just stick to the 40 mil. 3 years max.

....No way he sees the end of this deal.
 
#10
#10
Crew said:
$40 mil. guaranteed.

I'm sure there is an "early out" for the iggles in the deal somewhere.
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It's really not that surprising of a contract. He was the most dangerous player in the NFL last year and only got $40M guaranteed. It's not really risky, IMO.
 
#11
#11
Crew said:
Just stick to the 40 mil. 3 years max.

....No way he sees the end of this deal.
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+1......another point that I think many are missing here is that this frees up cap space to make a deal for Jackson and hopefully Tatupu. Vick was franchised and was eating a ton in cap space, would like to see them make a play for a OL, particularly a RT, but this isnt such a bad contract imo.
 
#16
#16
Hasn't been mentioned in the thread yet, so I'll just say it. It's reported closer to $80M than $100M.
 
#18
#18
Thrasher865 said:
Hasn't been mentioned in the thread yet, so I'll just say it. It's reported closer to $80M than $100M.
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Where do you see that? Unless you are figuring taxes

VolsNSkinsFan said:
They did the math on CNBC and after taxes and all the money he owes to creditors he will only walk away with like $1.2 Million. And I guarantee Vick has no idea too.

here is the article

News Headlines
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A year?
 
#19
#19
I heard the numbers were inflated. Wilbon said the guaranteed money would be closer to $30M. I don't understand why there is a discrepancy.
 
#20
#20
nbakerld said:
I heard the numbers were inflated. Wilbon said the guaranteed money would be closer to $30M. I don't understand why there is a discrepancy.
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Like I said, unless they are figuring in taxes (why they wouldnt with every other player) then I dont know why or what benefit it would be to "inflate" the numbers
 
#22
#22
Apparently this is the issue:

By now, you've surely seen that Michael Vick's new six-year, $100 million contract with the Philadelphia Eagles is neither, truly, a six-year deal nor a $100 million deal. It can be, sure, but it's certainly not likely to last that long or pay out that much. This is the NFL, where contracts aren't fully guaranteed and the complexities of the salary cap make it easy to twist the numbers to make them look the way you want them to look. Calling it a $100 million deal is a team concession in negotiations -- makes the player and the agent look good.



Vick



Our man Andrew Brandt has a full breakdown of the deal, and there are interesting quirks to it. For instance, the sixth year (and its $20 million salary) disappears if Vick takes at least 35 percent of the team's snaps in any of the first five years. Since that's certain to happen, the deal is really only a five-year, $80 million deal even if all of the non-guaranteed money comes in.

There are also interesting stipulations tied to Eagles team success in the first two years of the deal -- specifically, the Super Bowl. If Vick and the Eagles win the Super Bowl in either of the next two years, he gets a $3 million bonus. His 2013 salary ($16.5 million, of which only $3 million is guaranteed for injury) would drop by $500,000 for each year of the first two in which he does not reach the Super Bowl. And while he's scheduled to make (a non-guaranteed) $15.5 million in 2014, that number would go up by $500,000 if he reaches the Super Bowl in any of the deal's first three years, $1 million if he wins one of those three Super Bowls or $2.5 million if he wins at least two of them.

So the guaranteed money is only $35.5 million over the next three years -- $20 million this year, $12.5 million in 2012 and a $3 million injury guarantee in 2013. The injury guarantee becomes a full skill guarantee on the second day of waivers in 2013.

But in short, this deal includes the kinds of incentives that fans like to see. The best thing Vick can do if he wants to maximize the value of his new contract is to win the Super Bowl. By now, no one should have any illusions about what the Eagles franchise is obsessing over these days.
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#25
#25
No, that was just a silly tweet I encountered while looking for the ESPN article.

It seems like an odd thing to put in the contract. If you're our primary guy, the contract is shorter, but if you are just a role player, we'll keep you longer. That being said, I can certainly see why this benefits the Eagles. If he takes 35% of snaps, the wear on his body will be tremendous, and they won't want him as long. I think that clause was just as ESPN said, so they could inflate the numbers to make the agent look good. Please him and you get the deal signed.
 
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