Report: Vick received a $3.5 million bonus

Mike Florio of ProFootballTalk.com has a official break down of Michael Vick’s new 2013 contract with the Philadelphia Eagles.

Per a source with knowledge of the contract, Vick received a signing bonus of $3.5 million.  He also will receive a non-guaranteed of $3.5 million.  That’s a base rate of $7 million.

The rest comes from incentives.  He can earn up to $500,000 in roster bonuses, with $31,250 for each game in which Vick is on the active 46-man roster.  He gets another $1.5 million is he participates in 90 percent of the offensive snaps, and $1 million if the Eagles win the Super Bowl (and if he plays in it).

So it’s a one-year, $7 million deal with $3 million in incentives — at least $1 million of which has a very slim chance of being earned.

When looking at Vick’s deal, it certainly is a win-win for both sides.  There’s a good chance he’ll only receive the $7 million base salary, which wouldn’t hurt the Eagles if everything doesn’t work out.