Michael Vick is on the verge of signing a third endorsement deal after being released from prison (Nike and Core Synergy are the other two). The deal with MusclePharm, an athletic supplement company, will be for three years and worth $1.55 million.
Jason LaCanfora of the NFL.com broke the story:
Vick's deal with MusclePharm would be for two years guaranteed, with an option for a third year and would include substantial bonuses based on Vick reaching the Pro Bowl, and the Eagles reaching the playoffs and also the Super Bowl.
Vick would have a social media responsibility with the company and the ease to which he works with MusclePharm executives would help determine whether the third year is picked up. Vick would also receive $100,000 in MusclePharm stock per year and the first two years would include $200,000 in base compensation, and $250,000 in the third year.
Vick's Pro Bowl and postseason bonuses would begin at $25,000, according to the source. The deal could be announced shortly.
This is good for Vick. He owes creditors around $20 million bucks, so obviously the more endorsement deals the better. He'll also be receiving $16 million from the Eagles this year for being slapped with the franchise tag.
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Author's note: I personally use MusclePharm supplements and can tell you that they are a very legit company. The products are great and they are doing a great job of positioning themselves to take over the performance supplement market.