Michael Vick, Philadelphia Eagles Restructure Contract

Newly hired Philadelphia Eagles coach Chip Kelly has examined Michael Vick‘s game film and apparently likes what he sees.

Nothing is guaranteed for Vick. Second-year pro Nick Foles remains a promising option, although he probably doesn’t fit in Kelly’s offense. It wouldn’t be a surprise if Kelly added another interesting name to the mix.

Vick will take a big pay cut from his previous $15.5 million salary. NFL.com’s Ian Rapoport reported Vick can earn “up to” $10 million. NFL.com’s Albert Breer reported Vick’s contract is a three-year deal that voids to one year on March 15, so it’s essentially a one-year deal, making Vick eligible for unrestricted free agency in 2014.

Still, Vick will get what he earns since the deal is heavy on incentives, a source who has seen the contract told Breer. The Eagles are making it clear that Vick isn’t guaranteed anything at this stage, including a roster spot. But they wouldn’t make this move unless they thought Vick had a good chance to win the starting job.

This marks a sensible move for both sides. Vick knows that he’s not going to find a better situation than the one in Philadelphia with Kelly and a talented group of skill position players. Kelly knows he’s not going to find a better option on the free-agent market.

Consider this a one-year trial. It’s a “prove it” deal. It’s another “last chance” for Vick.

Andy Reid‘s departure ultimately allowed Vick to get another season with the Eagles. With Kelly on board, it might be a better chance for Vick to find success.