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Michael Vick signs franchise tender for next season, if there is one

Michael Vick cashed in, somewhat, for his comeback season in 2010. By placing the franchise tag on Michael Vick, the Eagles will pay him in the neighborhood of $20 million, if there is a season next fall.

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In this Nov. 21, 2010 file photo, Philadelphia Eagles quarterback Michael Vick smiles as he leaves the field after an NFL football game against the New York Giants in Philadelphia.

Matt Slocum/AP/File

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Michael Vick received the Eagles' franchise tag after the 2010 NFL season concluded. Now, he stands to receive a raise of approximately $15 million.

On Wednesday, the AP Comeback Player of the Year signed his franchise tender, in essence a one-year contract worth $20 million. The franchise tag on Vick precludes him from becoming a free agent, allowing the Eagles to keep him for at least one more year and possibly negotiate a long-term deal.

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Under the rules of the NFL's current collective bargaining agreement, by placing the franchise tag on Vick, the Eagles must pay him the average of the top five salaries at his position.

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The current CBA expires at midnight Thursday.

NFL owners and the players union held another negotiation session Wednesday in Washington, D.C., trying to come up with a new CBA before the Thursday deadline.

If a new agreement can't be reached, the threat of a player lockout looms over the sport, which could threaten the 2011 season. At stake? What else - money and a more equitable share of revenue, from the owners standpoint.

There is a chance the CBA expiration deadline could be extended, if talks look promising.