Vick received an exclusive-rights tender, meaning he will be paid the average of the top five highest-paid quarterbacks in the NFL. The amount he's paid, which a league source told NFL Network insider Jason La Canfora will be slightly more than $16 million, also could depend on whether Indianapolis Colts quarterback Peyton Manning signs his franchise tender (worth $23 million) or works out a long-term contract.
"It was great to get the franchise tag and the guarantee of one more year. I plan on making it one of the best years of my life," Vick said. "Whatever it takes to put it in motion and try to make that Super Bowl."
The team also announced that Matt Nagy was hired as offensive quality-control coach.
Vick signed with the Eagles in 2009, after serving a 20-month sentence on federal dogfighting charges, and was the third-string quarterback behind starter Donovan McNabb and backup Kevin Kolb. Before the 2010 season, McNabb was traded to the Washington Redskins, making Kolb the starter, but that didn't last long after he was injured in the opener.
Vick took over and led the Eagles to a 10-6 record and the NFC East title. He set career highs in multiple statistical categories -- including passing yards (3,018), touchdown passes (21) and rushing TDs (9) -- despite missing four games because of injuries.
The news that Vick would sign his tender first leaked Tuesday, the same day that Quanis L. Phillips, the quarterback's co-defendant in the dogfighting case, was charged with violating terms of his probation in Richmond, Va.
Federal probation officer Rodney T. Lang said in a petition filed last week that Phillips, who was shot in the leg after a June birthday party for Vick at a Virginia nightclub, lied to him about having contact with the quarterback. Vick told his probation officer that he had spoken to Phillips that night.
No arrests were made in the nightclub shooting, which occurred after Vick had left the party.
Vick also said Phillips tried to contact him during a football camp before the party. Lang said Vick "eventually contacted Phillips to request that he refrain from contacting him."
Lang also said in the petition that Phillips failed to report run-ins with police.
Phillips has been ordered to appear before U.S. District Judge Henry Hudson in Richmond on March 15. Phillips' attorneys didn't return a telephone message left by The Associated Press on Tuesday night.
The Associated Press contributed to this report.