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Wednesday, July 13, 2011

Report: Michael Vick On The Cusp Of $1.55M Endorsement deal

Michael Vick is close to signing a 3-year, $1.55 million endorsement deal with MusclePharm, according to a report.

NFL.com, citing a source with knowledge of the situation, reported that the Eagles quarterback has agreed to the deal.

However, Joseph Lawanson, director of team development for MusclePharm, which manufactures nutritional supplements and other workout-related products, said that while Vick is under consideration, a deal has not yet been reached.

Still, the website said a deal could be announced shortly.

Vick lost all of his endorsement deals after spending 19 months in federal prison in 2009 for his role in a dogfighting ring.

Earlier this month, he signed a deal with Nike, a sign that major players may be ready to forgive and forget.

"We don't have any problem considering him at all," Lawanson told NFL.com. "And for us to consider him, we're confident that he has rehabilitated himself."

According to the website, Vick's deal with MusclePharm would be for 2 years guaranteed, with an option for a third. He would also receive bonuses if he makes the Pro Bowl or if the Eagles make the playoffs and Super Bowl.

According to the source, Vick's Pro Bowl and postseason bonuses would begin at $25,000.

The website reported that Vick would have a social media responsibility with the company, and his interaction with its executives would help determine whether or not the third year is picked up.

Vick would also reportedly receive $100,000 in company stock per year, and base compensation would be $200,000 in the first 2 years and $250,000 in the third.

Vick signed the Eagles franchise tender before the NFL lockout began - ensuring him of a $16 million contract this season - and may seek a longer deal once the labor dispute ends.

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