ESPN's Adam Schefter reports the Eagles have worked out a restructured contract with Michael Vick, and will keep him for 2013.
Vick has been re-signed to a "three-year deal" that will void next March 15, ostensibly making it a one-year pact. Per Schefter, Vick could make "up to" $10 million in 2013. He had been set to make $15.5 million in the third season of a six-year, $100 million contract. The news makes Vick the obvious favorite to pilot Chip Kelly's offense, but both FOX's Jay Glazer and the Philadelphia Inquirer believe he may have competition. However, it's doubtful Vick would have foregone a chance at the open market if he wasn't offered assurances he'd likely be under center come Week 1. Vick's playmaking skills have been in steady decline, but he'll still be a highly intriguing fantasy prospect in Kelly's breakneck offense.
Source: Adam Schefter on Twitter