Michael Vick's contract has Super Bowl incentives

Michael Vick's new contract with the Philadelphia Eagles has the potential to be very lucrative. The Eagles will have to have a heck of season, however. According to Mike Florio of Pro Football Talk, Vick's new contract will pay him $7 million in 2013, with an additional $3 million tied up in incentives. Among the incentives is a $1 million bonus if the Eagles win the Super Bowl with Vick under center.

Bleeding Green Nation: Snap judgement of Vick's new contract

Other incentives include $500,000 in roster bonuses and $1.5 million if Vick plays at least 90 percent of the Eagles' offensive snaps. The roster bonuses come out to $31,250 for each game that Vick is on the 46-man roster.

The Eagles made a splash Monday when they announced that they would be retaining Vick despite a season plagued with injuries and on-field struggles. The Eagles finished their 4-12 season with rookie Nick Foles starting and Vick on the bench.

Vick went just 204-for-351 passing for 2,362 yards, 12 touchdowns and 10 interceptions. He has a chance to have a renaissance of sorts under new head coach Chip Kelly, however. Kelly was the mastermind behind a potent up-tempo offense at Oregon that could play well into Vick's strengths as a runner. That said, Kelly has made it clear that despite the new contract, Vick will have to compete for the starting job with Foles.