The deal would reduce his salary from 15 million dollars to 10 million this year. That 10 million though, is only fully received if Vick hits on all his incentives, which at this point we do not know what they are specifically.
The deal is essentially a 1 year deal, though his signing bonus has been prorated over 3 years for cap reasons. The move allows for the Vick contract to be a bit more flexible and cap friendly.
What this deal is NOT though, is a complete vote of confidence. This does not mean Vick is the starter for 2013, it doesn’t guarantee him a spot on the roster.
Chip Kelly stated in his press conference today that there will be open competition for the QB spot and Nick Foles has been notified throughout the process. Chip Kelly is NOT naming a starter yet.
Which makes sense because Chip Kelly has never seen Michael Vick or Nick Foles throw a football in person. Some fans are outraged at not cutting Michael Vick outright, but if you’re a new coaching staff you come into this job with a clean slate and no preconceived notions.
This is a rebuilding year for the Eagles. There will be soul searching. There will be holes in this roster. We need to rebuild an identity as much as a good football team. This is a long process, and Chip is going to evaluate it every step of the way to get this team on the right track.