Quoted in full from SkySports:
After a career season last year, the Eagles have handed Vick a six-year contract worth $100 million, with a reported guaranteed salary of $36 million for the dual-threat quarterback.
The deal marks Vick's turnaround after his career was halted by a dogfighting conviction which resulted in him spending 18 months in prison and losing all his previous wealth.
Vick signed a ten-year deal worth $130 million with the Atlanta Falcons back in 2005 as the top earner in the NFL, but his conviction and imprisonment saw him lose that and later file for bankruptcy.
The Eagles took a chance on him upon his release and he joined Philadelphia in 2009, and after initially playing sparingly as third-choice quarterback, he is now the undoubted number one and is again amongst the highest-paid players in the league.
The Agreement:"I'm very happy we were able to reach an agreement with Michael on this long-term contract," said Eagles head coach Andy Reid.
"It's a product of all the hard work Michael has done to better himself over the last couple of years, both on and off the field. I'm very proud that he has been able to achieve success again in this league, but he'll be the first one to tell you that there is a lot of work yet to be done by him and this team as a whole.
"And there's no doubt in my mind that he will continue on that path."
31-year-old Vick played behind Donovan McNabb and Kevin Kolb initially, but McNabb was shipped off to Washington and then last season an injury saw Kolb lose his place to Vick.
It was a position he would never relinquish as Vick produced career-best numbers in yards passing (3,018), touchdowns passes (21) and rushing touchdowns (9) in guiding Philly to an 8-3 record and the NFC East title.
Vick was rewarded with a Pro Bowl selection and NFL Comeback Player of the Year award and now he has been given the backing that he is right back at his best by his new team.
Undoubtedly the best running quarterback in the league, Vick's impressive passing accuracy and production last season saw him produce elite performances and the Eagles hoe he will be there for years to come.