Pro Bowl quarterback Michael Vick agreed on a one-year contract with the Philadelphia Eagles, two weeks after the team ensured that he’d stay in Philadelphia by giving him a franchise tag.
The Eagles didn’t disclose contract terms in announcing on their website that Vick signed the franchise offer. Under franchise tag rules, Vick would make an estimated $20 million, according to the Associated Press.
Each National Football League team can apply the franchise label to one player whose contract is expiring, preventing them from becoming free agents. Players designated with the franchise tag receive one-year contracts equal to the average of the five highest-paid players at their positions the previous season, under current rules. The players must accept that contract figure and are barred from becoming free agents.
It hasn’t been determined whether the franchise tag will be valid under a new collective bargaining agreement, which is being negotiated between the NFL and its players union. The current deal expires tomorrow, one second before midnight.
Michael Vick Signs One-Year Deal to Remain Philadelphia Eagles Quarterback
Wednesday, March 2, 2011
12:18 PM
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