Michael Vick will be the starting quarterback for the Philadelphia Eagles for the 2011 season.
A league source confirmed to ESPN’s Adam Schefter that the Eagles plan to place the franchise tag on Vick before the league’s current Collective Bargaining Agreement is set to expire on March 3rd.
The Eagles plan to franchise tag Michael Vick
The move will prevent Vick from leaving Philadelphia this offseason and ensure he’s tied to the Eagles for the 2011 season.
The franchise tag is a one-year contract that will pay Vick the average of the five highest paid players at his position. With Colts quarterback Peyton Manning set to receive a new contract this offseason, the value of the deal is uncertain at this time. However, it is likely that Vick will make somewhere between $17-18 million for the 2011 campaign.
The Eagles signed Vick to a 2-year $6.8 million contract back in August of 2009. Vick earned $1.2 million during the 2009 season and made $5.2 million this past year.
Vick lost over $130 million in contractual money from the Atlanta Falcons and endorsements after being incarcerated due to his involvement in dog fighting. He filed for Chapter 11 bankruptcy in August of 2009 and owes $22 million to creditors while remaining on a strict financial plan.
By placing the franchise tag on Vick, the Eagles will likely entertain offers for backup Quarterback Kevin Kolb. Kolb still is under contract for 2011 at $1.4 million.
Vick will be the starting quarterback for the NFC in the Pro Bowl after enjoying the best season of his NFL career. The likely NFL MVP runner-up set career highs in passing yards, passing touchdowns, rushing touchdowns, completion percentage, and passer rating.
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