This Is Mike Vick’s Team

Posted: August 29th, 2011 | Author: | Filed under: Philadelphia Eagles | 24 Comments »

With the signing of a 6 year, $100 million contract with an impressive $40 million guaranteed, Mike Vick is the Eagles QB for the foreseeable future. Vick’s cap hit was reportedly lowered by $1.8 million in 2011 to $14.4 million.

It will be interesting to see how this all breaks down, but there are some thoughts before seeing the details.

  1. He is probably here for three years minimum. The guarantees are likely a combination of signing bonus and guaranteed salaries in the first half of the deal. The math works such that it is pretty unlikely that you can cut him for savings until the fourth year of the deal. Not that the plan would be to cut him or anything like that, but the point is that Vick is the guy, no matter what, for at least that long (got that Mr. Kelce?). Also notable is that Andy Reid’s contract expires in 2013. My guess is that if the Vick/Reid combo fails, the salary cap decks can be cleared after that year.
  2. Vick now accounts for 12% of the cap. That is assuming the $120 million unadjusted cap, but it’s a pretty precise figure. By comparison, Donovan McNabb’s mega deal in 2003 was pegged at about 10.5% of the cap. (A $7.86 million 2003 cap hit on a $75 million cap.) Thanks rookie cap!!
  3. That percentage could be constant. Again, we don’t know how the deal increases in the future yet, but its average annual growth rate is 5.8% per year, and if the cap increases at the same annual rate through the end of the deal (which seems reasonable), then the deal will have roughly the same percentage impact on the cap each year.
  4. Behavior clauses will be interesting. He seems like a different guy, but he is also a convicted felon. He won’t have much if any leeway with the law. It will be interesting to see what clauses his contract contains to make sure that the Eagles are protected there.
  5. I never thought this would happen in 2009. And I still can’t believe the amount of change to this franchise in the past 24 months.

  • http://Website Eric

    I bet the Eagles did this to upstage the return of the Phils from a brief hiatus.

  • http://igglesblitz.com Tommy Lawlor

    Point #5 is so true. Amazing to see how things have changed.

  • http://Website Tom

    First thing I thought was this is a four year deal.

  • http://Website Nathan

    Now that the Eagles will turn their attention to DeSean’s contract, how long do you think it takes before they get something done?

  • http://Website Jason-E

    I still have to finish the article. I couldn’t get past point 1.

    Tommy,

    Why is it that you must constantly destroy my delusions by reminding me of Reid’s football mortality? He’s not leaving. He’s going to coach until 2026!

  • http://twitter.com/cliphord Cliff

    Well ain’t that some shit.

  • http://Website MJ

    Obviously very early here, but what does this mean in regards to DeSean. We only seem to be saving a little less than $2 mil this year, is that going to be enough to negotiate any changes in this years deal, or is this more about having the open franchise tag in the future and being able to use that on DeSean next offseason as a placeholder for a new deal?
    Basically, does this move mean there is enough to make a change in his salary this year, or will it more likely impact his future years?

  • http://Website Jason-E

    My bad, Sam. I should read who the author is before I comment.

  • http://Website Thorin

    This seems really, really risky to me. Until now most of the guys we’ve brought in on this spending spree have been glorified rentals. … I wanted to see Vick get paid, but I don’t know about the injury prone, fundamentally iffy scrambler as a real multiyear commitment. I’m still half expecting him to not finish this year as the starter.

  • http://igglesblitz.com Sam

    re: DeSean

    It means nothing for him. Look, DeSean’s deal is getting done. They can do it with a surprisingly small cap hit in 2011. Remember, the Eagles’ policy for guys on rookie deals is extensions, not renegotiations. So it is likely that the money comes in 2012 and onward, and the cap hits with it. And with a 10 year deal, there is no 30 percent rule or Deion charge to worry about, which were the technical things that forced teams to keep cap hits in future years in line with the cap hit in the current year. So he can have a low cap hit in 2011 and a much bigger one in 2012 and onward, just as if he signed a new deal in the off-season.

    DeSean is getting done. I would be shocked if he didn’t. We just have to be patient.

    @Thorin

    Good to hear from you. It is risky in the sense of injury. But all QB deals are. Is he more likely to get seriously injured than Brady or Manning? Maybe. Especially if the line plays like it has in the preseason. But I’m not sure what the alternative was … two years of the franchise tag would be about the same amount of guaranteed money as he wound up getting, $36 million according to current reports.

  • http://Website theguyotc

    I’m a little surprised, in that I expected them to pay DeSean first. He’s been outperforming his contract for years now, and really deserves a bump. He may not be a true top WR, but we know he’s been a playmaker.

    Vick doesn’t even have a full year as a starter behind him on this team. I figured they’d re-up him at some point after the season started, but I suppose I’m more timid than they are. I don’t expect Vick to fail, or even be a mediocre QB, but I’d want to see him against some good defenses that have tape on the new version of him before I throw out a dollar amount. On a purely cynical level, seeing how long he lasts behind this O-line might make some sense too.

    Then again, the only good defense before the bye looks to be NYG, so maybe waiting until Week 9, 12, or 15 would be excessive.

  • http://Website McG

    Is Andy Reid going “all in”?

    The answer to that makes fans sad because it is… NO. He is going about business as usual. Getting players for bargain prices, and building for the future and the present.

    Can we do ourselves a favor as the most respectable Eagles website, and save the i told you so comments RE: Kelce until the end of season… There are sure to be growing pains, but comon guys… JJ was a great center for a long time, but it’s not like he is a beloved icon like Dawk being replaced. Kelce is an athletic young guy who is eager to learn. No amount of whining on an Eagles blog is going to change Mudd’s mind. He probably doesn’t even use the interwebs…

  • http://Website JakFTW

    @ theguyotc

    I believe the mechanics of the franchise tag mean that if Vick did not sign a deal before the season starts, they would not be able to renegotiate until next off-season.

    The Eagles like certainty (Just look at the extra money they gave Kolb when he became the starter – they wanted no confusion that this was his team at that time) – It makes sense to deal with this now.

  • http://twitter.com/cliphord Cliff

    Best quote of the night comes from Shady McCoy: “Reason y I’m happy bout that 100 million deal cuz every time we go out Mike Vick got the TAB lol”

    On second thought…

  • http://Website theguyotc

    @ JakFTW

    If you’re right, then it makes perfect sense. All I know about Vick’s franchise tag is that it’s exclusive.

    I will say though, bringing up the notorious commitment to Kolb is not making me feel better.

  • http://Website theguyotc

    Wait I’ve seen the future. Vick is the starter with a new contract, so he’ll be injured early after struggling, and Vince Young will come in looking repentant and better than ever. At the end of the season the Eagles will trade Vick to SF for Patrick Willis and a 2nd round pick.

    Genius.

  • http://www.igglesnest.com BG

    RE: Point #4 (about behavior clauses):

    “I am told by a source close to the situation RE off-field conduct language in Vick deal, nothing other than the usual stuff.”

    Per @LesBowen

  • http://Website Kyle

    lol did Shady really say that?

  • http://Website JakFTW

    I think that this move and the Kolb commitment show how the Eagles operate. As much as some people perceive the Eagles as ‘cheap’ in some ways, when it comes to QBs, their recent history suggests that they like the idea of having the finances make the statement ‘This is our guy’.

    McNabb had a big long term deal, and then after his benching got the so-called ‘financial apology’ to re-make that statement (Though he didn’t get additional years).

    When Kolb was made the starter, he got starter money (although not in line with top QB money). In his case, he also didn’t a long extension, but I’m guessing that was as much about the various restrictions and uncertainty related to the uncapped year.

    Now with Vick, the Eagles want to make that commitment again, to both the player and the team. I expect that after 3-4 years the team can move-on relatively painlessly – To me the number of years and total is about making a statement.

    Sam – do you know when / how we might get an understanding of the dead-money that would result from cutting/trading Vick in later years?

  • http://Website Austinfan

    They were already on the hook for $16.2M once the season began, so the real exposure is only an additional $28M, so unless Vick totally collapsed or got killed on the field, they would be paying him half of that next year. So the risk isn’t that great, and this provides cap certain the next four years, I suspect the first four years average around $15M with a jump in years 5 and 6.

    DeSean will probably get the Holmes contract tacked on after this season, so a 5 year, $50M extension becomes $30M over the next four years, or $7.5M a year, with $10M options for the team in 2015 and 2016. DeSean has a choice, take a reasonable deal and get your guaranteed money now, or play out the season and take your chances with your “before” body for the Charles Atlas ad.

  • http://Website Congrats!! To a good fellow…

    Congrats to Mike & his crew!!
    Nobody needs to worry about Mike, he’s not at all like Marcus or anything. Awhile ago, from a friend of his down here in South Beach, I’ve heard nothing but good things about him. Funny as shit, smarter than people realize, genuine and very generous. Marcus was a little full of himself, was trickier for the bouncer to manage and wasn’t exactly fun to hang with back at Vick’s place. The dog thing shocked lots of people & was uncharacteristic of him. But he’s learned his lesson & it won’t be no prob no more.

    Shady probably didn’t realize how sensitive some people are about beverages or whatever. But you need to understand he’s young & doesn’t mean/or shouldn’t talk to the public about anything besides on field football issues; nowadays.

  • http://Website Eric

    I know he has some injury issues in the past, but let’s not forget he got hurt last year not because of line play, but because of him trying to make a play and score. And, being squished between two guys at exactly the same time was probably the least likely thing to ever happen to anyone in their career. That injury was the definition of a freak accident.

    Now, obviously running around like that means you have a greater chance of those types of injuries, so he’s definitely more injury prone than other QBs. Just not necessarily because of the line.

  • http://igglesblitz.com Sam

    re: new information on behavior language

    I guess I’m not surprised that there is no unique language. But I will be interested to see how the bonuses/guarantees are structured. What I am looking for is a bonus that can be reclaimed if something bad happens — that the deal is written in a way that protects the Eagles. Meaning guarantees written to be more of year-to-year salary, less of signing bonus. That would also keep flexibility in case things don’t work out.

    re: when we will learn more

    Soon. I doubt there will be more heavily covered contract in the national, let alone local, media than this one.

  • http://Website Thorin

    Hi Sam, I’ve commnted a few times, actually. Don’t get answered too often. … I think Tommy might still be sore about the time I called him “some guy” in an IgglesBlog argument. ;-)