By Gregg Rosenthal
Around The League Editor
New Philadelphia Eagles coach Chip Kelly has examined Michael Vick's game film and Kelly apparently likes what he sees.
Fox Sports insider and NFL Network contributor Jay Glazer first reported that Vick and the Eagles have worked out a restructured contract. The Eagles website quickly confirmed the move.
The team's website headline is telling: "Vick stays to compete for job."
Nothing is guaranteed for Vick. Second-year pro Nick Foles remains a promising option, although he probably doesn't fit Kelly's offense. It wouldn't be a surprise if Kelly added another interesting name to the mix. Vick will take a big pay cut from his previous $15.5 million salary. NFL.com's Ian Rapoport reports that Vick can earn "up to" $10 million. NFL.com's Albert Breer reports that Vick's contract is a three-year deal that voids to one year on March 15. (So it's essentially a one-year deal, making Vick eligible to be an unrestricted free agent in 2014).
Vick's deal surely includes a lot of incentives that recognize how unclear his role is at the moment. The Eagles are making it clear that Vick isn't guaranteed anything at this stage, including a roster spot. But they wouldn't make this move unless they thought Vick had a good chance to win the starting job.
This marks a sensible move for both sides. Vick knows that he's not going to find a better situation than the one in Philadelphia with Kelly and a talented group of skill position players. Kelly knows he's not going t find a better option on the free-agent market.
Consider this a one-year trial. It's a "prove it" deal. It's another "last chance" for Vick.
Andy Reid's departure ultimately allowed Vick to get another season with the Eagles. With Kelly on board, it might be a better chance for Vick to find success.