Here’s the full scope of the two-year contract quarterback Mike Vick signed with the Philadelphia Eagles, complete with incentives, according to a league source:
In 2009, Vick gets a $1.625 million salary. He was advanced $50,000 of that total up front. There is also a likely to be earned bonus in the first year of the contract that helps the contract comply with the 30 percent rule, but that’s essentially salary-cap gymnastics and not anything that will truly impact the money at play here.
In 2010, the Eagles have until the fifth day of the league year to pick up a team option — which, as I reported the night this all went down, gives the team a window in which to shop and potentially trade Vick before they have to decide on whether or not to pay him in 2010.
If they execute that option, Vick gets a base salary of $3.75 million. He is due a roster bonus in early March as well that would trigger a $1.5 million bonus payment, and that roster bonus would also make $1 million of the $3.75 million base salary guaranteed. Overall, excluding incentives, Vick’s contract in 2010 would be worth $5.25 million.
Here’s how the incentives work: Vick first must participate in 33 percent of the total offensive snaps in 2010, regardless of position (so it doesn’t matter if he is lined up as a quarterback or wide receiver or tight end or running back, just that he’s on the field for a third of the offensive snaps in some capacity. Then, he must also have played at least 51 percent of the total offensive snaps in at least nine individual games.
Again, this is not an either/or (yes, I worded it that way on purpose, fellow Elliott Smith fans). Vick must hit both of these qualifiers in order to be eligible for these playing-time incentives.
If Vick meets these criteria and plays in 51 percent of the offensive snaps in nine games, he gets an $850,000 bonus.
If he meets the criteria and plays in 51 percent of the snaps in 11 games, he gets an additional $1.05 million bonus.
If he meets the criteria and plays in 51 percent of the snaps in 13 games, he gets another $850,00.
So, the full incentive package is worth up to $2.75 million.
And thus the total, maximum, two-year compensation, if Vick hits all incentives, would be $9.625 million.
Looking at this, it would obviously behoove him to be a starting quarterback somewhere in 2010 to increase his earnings — given his bankruptcy status, that’s imperative — and barring an injury to Donovan McNabb, that doesn’t seem quite so likely in Philadelphia. You never know, McNabb could get hurt and Vick could shine, but given the reworked deal McNabb received this offseason, that’s an unlikely scenario at this time. My gut has been the Eagles showcase him and then move him, but we all know this is a league where anything can happen and there is never a shortage on drama or intrigue.