September 12 marks the start of a new NFL football season. The NFL is starting to cut their rosters to 80 players in preparation for the start of the season. Michael Vick has recently signed a six-year contract with the Philadelphia Eagles. The contract allocates 100 million dollars over the six year time period. This contract however is set up so that Vick may actually receive the 100 million, but the chances are limited. If you have never taken a look at NFL contracts they are complex. Michael Vicks contract is no different. I will break down this contract by year to explain exactly what Michael Vick must do to make this contract the most valuable.
In 2011 Vick will receive 20 million dollars. The first fifteen days of his contract Vick will receive a seven million dollar signing bonus and a three million dollar roster bonus. This is not bad for the first fifteen days of any contract. Michael Vick will earn a ten million dollar salary in 2011. This brings us back to the 20 million dollars he is to receive total. The total amount is guaranteed.
In 2012 Michael Vick is guaranteed 12.5 million dollars. In 2013 if Michael Vick becomes injured he will receive three million dollars and the contract becomes void. Michael Vicks salary if he plays the 2013 season will be 16.4 million. If Michael Vick wins a Super Bowl in 2011 or 2012 he will receive an additional three million to his salary.
Michael Vick will receive a salary of 12.5 million in 2014. The contract also gives Vick a March signing bonus of three million. The March signing bonus encourages the Philadelphia Eagles to make decisions in March rather than in August. In 2014 Michael Vick can increase the value of his contract by 500 thousand for a NFC Championship, one million for one Super Bowl win, and two and a half million for two Super Bowls. This is based on the 2011 through 2013 seasons. The best way for Vick to maximize his earnings is to win the Super Bowl. This is beneficial to the fans because Michael Vick has to work hard in order to receive a high value contract.
In 2015 Michael Vick will receive 14.5 million for his salary. He will also receive a March signing bonus of two million. The final year of the contract is void if Michael Vick takes 35 percent of the teams snaps in any year of the contract. There is a pretty good chance this will happen. As a result this contract would be a five year 80 million dollar contract. By advertising a six year one million dollar contract the agent and player look good. Michael Vick has control of what he makes. He needs to work hard and take the Philadelphia Eagles Franchise to the Super Bowl.
In addition Michael Vick has been given the rights to the luxury suite. The luxury suite has an annual value of 165 thousand. The Philadelphia Eagles gave him this in exchange for appearances on Eagles television, website, radio, and at team events. They were unable to just give Michael Vick the luxury suite because it would result in a cap violation. By adding the stipulation they are able to give Vick the rights to the luxury suite.
Michael Vicks contract is only guaranteed the first two years. He needs to make the Philadelphia Eagles a winning franchise. He has the power to make this contract an 80 million dollar deal. With the season just around the corner it is time for players like Michael Vick to be sure he is fully prepared. This season the Philadelphia Eagles have added many new players from the free agency including Nnamdi Asomughi, Steve Smith, and Ronnie Brown. This is just a few of the players added by this franchise. Michael Vick needs to make sure that the team is up to speed. The Philadelphia Eagles and Michael Vick both want this 2011 season to bring them a Super Bowl Championship.
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