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| 2nd March, 2006 - 4:11 pm |  ABC7 - As anticipated, the Atlanta Falcons have guaranteed a $7 million March roster bonus due quarterback Michael Vick, a move that creates about $5.25 million in additional cap space, and which will help the club squeeze under the NFL's spending limit of $94.5 million by the Thursday night deadline.
The contract extension signed by Vick in December 2004 provided the Falcons the right to make the move, which essentially turns the roster bonus into a signing bonus. Most important to the Falcons, it means that the team can prorate the $7 million bonus over four years and reduce its impact on the 2006 cap.
Atlanta performed a similar maneuver last spring with Vick on a $22.5 million roster bonus.
The bookkeeping transaction has no impact on Vick, since he would have received the $7 million whether it was treated as a roster bonus or as a signing bonus. The five-year veteran and Pro Bowl performer is due to earn a 2006 base salary of $1.4 million. [READ] |
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