The Philadelphia Eagles quarterback, who re-signed with Nike earlier this month, on Wednesday became an equity partner in Double Eagle Holdings, Ltd., the parent company of Fuse Science, Inc. In addition, MusclePharm Corp. confirmed via a statement that it has signed Vick to a three-year, $1.55 million endorsement deal.
As part of the Fuse Science agreement, Vick will endorse the company's line of sports nutrition vitamins and minerals.
"Fuse Science has game-changing technology and an incredible team of scientists and business leaders to bring it to market," Vick said. "I believe these products will revolutionize how athletes provide their bodies with nutrients and medicines, changing what we have come to accept as normal."
Vick, who led the Eagles to an NFC East title last season, signed his first endorsement after being released from prison with Unequal Technologies, a company that produces football pads, on Jan. 27. Then on July 1, he returned to Nike, a company that had previously dropped him.
NFL Network insider Jason La Canfora first reported the MusclePharm deal -- the biggest yet for Vick since he restarted his NFL career after a 19-month incarceration -- was in the works earlier this month.
"He's a changed man," Fuse Science CEO Adam Adler told The Associated Press. "As part of that change, he's becoming a business man and not just a football player.
"He's the hungriest athlete, he's the best athlete in any sport, and it was a no-brainer to bring Michael in and build around him."
Vick also will have a prominent role for MusclePharm, including an interactive social media role.
"I have four dogs and have been a dog lover for a long time, but with that said, we also live in a country that allows for second chances," MusclePharm CEO Brad Pyatt said. "We truly believe Mike Vick has paid his time for his past mistakes, and it is why we are excited to have him on the MusclePharm team.
"For us to agree to this deal and have Mike come on board with MusclePharm, we had to be confident that he has rehabilitated himself, and we are convinced that he has. This is a tremendous opportunity for both MusclePharm and Mike, and we believe the potential is limitless."
Vick's Pro Bowl and postseason bonuses would begin at $25,000, MusclePharm executives said in a release.
The ease with which Vick 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.
Vick's image has turned around dramatically since his release from federal prison in July 2009 after serving 18 months for dogfighting charges. He has won over many fans and is a well-respected team leader on the Eagles.
Companies have noticed Vick's rejuvenation and once again are turning to him to sell their products.
"Michael wants to partner with a select group of companies," said Andrew Stroth, the Chicago-based attorney who negotiated Vick's deal with Fuse Science. "Fuse Science has game-changing technology and is a good strategic fit with Michael's brand."
The Associated Press contributed to this report.