Michael Vick is on the verge of signing his biggest endorsement deal since he restarted his NFL career after his 19-month incarceration, negotiating with MusclePharm on what could be a three-year, $1.55 million deal, a source with knowledge of the situation said Tuesday.
It would mark the latest deal in what has been a significant offseason for Vick, who was a league MVP candidate last season after taking over for Kevin Kolb as the Eagles' starting quarterback. Vick began his return to endorsements with some local commercials for a Philadelphia-area car dealer, then signed a deal with Core Synergy, which produces a patented brand of wristbands.
Earlier this month, Nike welcomed Vick back into the fold; the quarterback was one of the brand's flagship names before his 2007 dogfighting arrest. Now Vick is very close to completing a deal with MusclePharm, a company that makes supplements and other workout-related products.
A source indicated that a deal has been agreed to, but Joseph Lawanson, director of team development for MusclePharm, said the company still is considering its options but confirmed that Vick definitely is under consideration.
"We don't have any problem considering him at all," Lawanson said. "And for us to consider him, we're confident that he has rehabilitated himself."
Vick's deal with MusclePharm would be for two years guaranteed, with an option for a third year, and include substantial bonuses based on the quarterback reaching the Pro Bowl and the Eagles making the playoffs and also the Super Bowl.
Vick's Pro Bowl and postseason bonuses would begin at $25,000, according to the source.
Vick would have a social media responsibility with the company, and the ease with which he works with MusclePharm executives would help determine whether or not the third year is picked up. Vick also would receive $100,000 in MusclePharm stock per year, and base compensation would be $200,000 in the first two years and $250,000 in the third.
The deal could be announced shortly.
Vick, who faced substantial financial difficulties and a host of creditors when he came out of jail in 2009, stands to make $16 million this season on a franchise tag, but he could agree to a long-term deal with the Eagles at some point.