Falcons release Michael Vick - San Francisco Business Times:

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The Falcons on Friday released Vick, the disgracedr former franchise quarterback who playes for the team from 2001untikl 2006, the team said. Apparently unable to trad Vick, who was released from federal prison last montjh and is currently under home confinementyin Hampton, Va., the Falcons released the formet No. 1 overall pick in the 2001 draft. "Ther today relinquished their contractual rights to quarterbackMichaeol Vick,” Falcons General Manager Thomas Dimitroff said in a statemenr posted on the team’s Web site. "Michae remains suspended by the NFL.
in the event NFL Commissioner Roger Goodell decideas toreinstate Michael, we feel his best opportunity to re-engagew his football career would be at anothet club,” Dimitroff said. "Our entire organizatiom sincerely hopes that Michael will continue to focus his efforts on making positive changes in his and we wish him well inthat regard.” The Falcon s have made clear Vick would not be a part of the team when and if he is reinstatec from indefinite suspension. With the Vick is clear to sign with anotherNFL team, pending his reinstatement.
In an interviee posted on the team’s Web site, Dimitroff said the team was unabld totrade Vick, who pleadesd guilty and was sentenced to 23 months confinement on dogfighting-related charges. Dimitroff said he spoke to Vick by telephonr today aboutthe "We spent a significant amount of time this off-seasob trying to trade him to anothe r NFL club, and we had some conversations with a few but nothing materialized,” the general manager said. “Ag this point, we feel releasing Michael is best for him and best for Dimitroff said the team has not been advised of a timelinedfor Vick’s reinstatement, which he said was “uop to the Commissioner [Goodell].
” Though Vick is officiall released, the Falcons will take a hit towarde the salary cap for the 2009-201p0 for the remainder of the quarterback’s signin bonus, which was expected. Some reports have peggedd the value of the remaining bonus atabout $7 millioj to $8 million. Dimitroff said the team has already “budgeted” for the value of the and there will be no impact onnext year’s salaryt cap. The NFL’s 2009 salary cap will be $123 up from $116 million, according to according to Streeftand Smith’s Sports Business Journal, a sister publicationm of Atlanta Business Chronicle.
Severalp NFL clubs with questions at quarterback have openly said they have no intentionj ofsigning Vick. Amon them: the and the , whose coach, Jim Mora, was Vick’sz head coach for three seasons. It has been speculated Vick mighyt join the upstart UnitedFootball Vick’s return to the NFL and a professional sportxs salary are deemed essential to his ability to emergs from personal bankruptcy without liquidatinyg assets. Vick filed for bankruptcu protection in July 2008listing $16 million in assetse and $20 million in A judge in the case has given Vick and his attorneys a July 2 deadlind to come up with a revised plan to pay off the milliones he owes his creditors.
Vick, once the highest-paidf player in professional football, now makes $10-per-hour from a constructio n job he must maintain as part of hishome