Source: Eagles to tag Michael Vick

Updated: January 31, 2011, 8:46 AM ET
By Adam Schefter | ESPN

The Philadelphia Eagles will make it official next month and place their franchise tag on quarterback Michael Vick, a league source has confirmed.

The move will prevent Vick from leaving Philadelphia this offseason and ensure he's tied to the Eagles for the 2011 season.

Other People's Money

Vick The more Michael Vick makes, the higher the percentage that goes somewhere other than into his pocket. Here's how it works:

Income % to Creditors
$0-$750,000 10 percent
$750,001-$2.5M 25 percent
$2,501,000-$10M 30 percent
Above $10M 40 percent

• Lester Munson: More on Vick's debts

Vick was selected to start the Pro Bowl, his fourth trip to Hawaii in eight seasons. He set career highs in yards passing (3,018), touchdowns passing (21), touchdowns rushing (9), completion percentage (62.6) and passer rating (100.2). The Eagles (10-7) were 8-3 in games he started and finished.

What's just as significant about the move is that, by tagging Vick, the Eagles then will entertain offers for backup Kevin Kolb, who is sure to generate more interest this offseason than any other available quarterback once there is a new collective bargaining agreement.

Franchising Vick will give the Eagles contractual control of two quality quarterbacks, one of whom they will be able to shop. Kolb still is under contract for 2011 at the cap-friendly price of $1.4 million, making him an even more desirable commodity.

Multiple teams coveted Kolb last offseason. Kolb started the 2011 season as the Eagles' starting quarterback but was replaced by Vick after suffering a concussion in the season opener.

Kolb said after the season that he wants "to be starting somewhere" in 2011.

Vick made $5.25 million in 2010 but would make an estimated $20 million -- the average salary for the five highest-paid quarterbacks in the league -- if he is designated the Eagles' franchise player.

As a "reorganized debtor," Vick's income will be distributed to his family and his creditors in accordance with a court-approved schedule. As his income increases, he will pay more of it to the creditors.

Adam Schefter is ESPN's NFL Insider. Information from ESPN.com's Lester Munson and The Associated Press was used in this report.

Adam Schefter

NFL
  • ESPN NFL Insider
  • Joined ESPN in 2009
  • Former president of the Pro Football Writers of America and the author of four books

SPONSORED HEADLINES

MORE NFL HEADLINES

MOST SENT STORIES ON ESPN.COM

ESPN Conversations

comments