GETPlugged: Philadelphia Eagles restructure Michael Vick’s contract 1Yr $10Million

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Michael Vick is not going anywhere. Not yet, anyway.

The Philadelphia Eagles announced Monday they have agreed to terms on a new, “restructured” contract with Vick, who was set to earn $15.5 million in 2013 and was under contract through 2016.

A person informed of the terms of the new deal said it has two voidable years on the back end beyond this upcoming season. But the person, who spoke to USA TODAY Sports on condition of anonymity because the terms weren’t to be discussed publicly, said it’ll basically serve as a one-year contract.

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NFL Network and ESPN report that Vick could earn approximately $10 million in 2013.

This does not necessarily spell the end of last year’s third-round pick, Nick Foles, in Philly. A person informed of the team’s thinking regarding its quarterback situation said the plan this spring, should a new deal with Vick be worked out, was to have Vick and Foles compete for the job. The person, who spoke on condition of anonymity, said it was communicated to Foles that Vick could be brought back at a lower rate, and that it wouldn’t mean he was going to be traded.

After two seasons out of the NFL while serving a federal sentence for dogfighting, Vick joined the Eagles in 2009 and became their starter when Kevin Kolb went down with a concussion on opening day in 2010. After leading Philadelphia to the NFC East crown, Vick was franchised following the season but eventually signed a six-year, $100 million contract with $40 million guaranteed. He received a 10-year, $130 million pact from the Atlanta Falcons in 2005, two years before his legal troubles surfaced.

Vick’s struggles with turnovers and accuracy have been problematic since that sterling 2010 campaign. He was plagued by a concussion himself in 2012 and essentially watched most of the season’s second half while since-fired coach Andy Reid took a long look at Foles. Vick passed for 2,362 yards, 12 TDs and 10 INTs in 10 starts but only rushed for 332 yards and lost five fumbles.

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