ANSWERS: 1
  • Here is the Atlanta Falcon's web site information on Vick's contract, very long answer! Contract details Signed by Falcons to a six-year contract worth $62 million on May 9, 2001. Vick will receive $15.3 million in guaranteed money over the first three years of the deal. An initial signing bonus of $3 million and a base salary of $2 million will give him a cap figure of $2.5 million in 2001. In 2002, his base salary is $2.5 million, followed by $3 million (2003), $3.5 million (2004), $4 million (2005) and $4.5 million (2006). That makes the deal intitally worth $22.5 million over six years. But the team has the option to add two additional years to the contract through March 10, 2002 by paying $8 million. In 2007, his base salary will be $3.4 million and $3.9 million in 2008. This option also reduces each base salary from 2002-06 by $1.6 million, making them $900,000 (2002), $1.4 million (2003), etc. This will allow Vick's salary cap figures to reduce from $3 million to $2.543 million in 2002, $3.5 million to $3.043 million in 2003, and $4 million to $3.543 million in 2004. Also in the contract, Vick's base salary for 2004 can be accelerated to $5 million if certain performance marks are achieved. Also if other marks are achieved prior to 2005, Vick's contract voids after the 2004 season. If these marks are achieved, the Falcons have the option to reinstate years 2005-08 with a $5 million payment. If this payment is made, his base salary in 2005 increases to $4.5 million, and $5.5 million in 2006, $6.5 million in 2007, and $7.5 million in 2008. That means that his cap numbers for those years will become approximately $7.4 million (2005), $8.4 million (2006), $9.4 million ($2007), and $10.4 million (2008). Also this $5 million payment will allow the contract to be voided after 2006 ... Due to him making the Pro Bowl in 2002, his base salary increased to $2 million in 2003, and he received a $1.5 million bonus ... Due to him making the Pro Bowl in 2004, his contract was set to void following that season ... The Falcons signed him to a ten-year contract on December 23, 2004. The deal is worth $130 million and includes signing bonuses that total $37 million. The deal extends Vick's rookie contract by six seasons. Base salaries for his new contract are: $600,000 (2005); $1.4 million (2006); $6 million (2007); $7 milllion (2008); $9 million (2009); $10.5 million (2010); $13.5 million (2011); $13 million (2012); $15 million (2013); and $17 million (2014). He received an initial signing bonus of $7.5 million. Vick also received two roster bonuses in the new deal. The first is worth $22.5 million and is due in March 2005. The second is worth $7 million and is due in March 2006. The first roster bonuses will be treated as a signing bonus and prorated annually, and $3.4 million of the second bonus will be prorated, with the remainder be counted against the 2006 cap. Because of the expiration of the league's Collective Bargaining Agreement in 2007, the initial signing bonus and first roster bonus will only be prorated through the 2009 season. Due to the extension of the CBA in March 2006, the final roster bonus will be prorated through the 2010 season. That gives Vick cap hits of (rounded to nearest thousand): $7.996 million (2005); $13.075 million (2006); $13.58 million (2007); $15.08 million (2008); $15.437 million (2009); and $11.187 million (2010). Beyond 2010, his cap hits will be equal to his base salaries ... Due to Vick's indefinite suspension in 2007, his $6 million base salary that year will not count against the Falcons cap. And until his suspension is lifted, none of his subsequent base salaries will count against the team's salary cap. Special Note: If the Falcons release Vick following the 2007 season, as many suspect will occur due to his prison sentence and suspension, there is about $14.9 million left remaining in unamortized bonus money. If he is released prior to June 2, the Falcons will have all that accelerated to their 2008 salary cap. That would save $396,720 against that year's cap. If the team releases him after June 1 (or designates him as one prior to that actual date), about $7.573 million of the remaining bonus money will accelerate to 2008, with the remainder ($7.32 million) counting against the 2009 cap. This however does not factor in any bonus money that the Falcons may or may not recoup from Vick. --------------------------------------------------------------------------------

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