Eagles won't cut Michael Vick by $3M deadline Wednesday

Back in January, CBS Sports insider Jason La Canfora reported that Michael Vick's contract was not headed for a "speedy conclusion." After Wednesday, the Eagles will owe Vick $3 million and, CBSSports.com's Mike Freeman confirms, Philly plans to keep Vick for now.

Jeff McLane of the Philadelphia Inquirer first reported the news that the Eagles had finalized the decision to hold onto Vick -- for now.

By not releasing Vick by Wednesday, the Eagles guarantee $3 million to Vick. More important, they gave themselves wiggle room for his short-term future in Philadelphia.

Freeman reports that Vick has heard that the new staff, featuring Chip Kelly as head coach, has an open mind about his future with the Eagles. By not cutting Vick before Wednesday, Philly extends its time to evaluate the quarterback through March 12.

But even if the Eagles don't end up keeping him, they have options. If they cut him and someone else pays him $3 million or more, the Eagles can slide out from that cash. They can trade him. Or they can re-negotiate his contract and keep him.

In other words, don't read too much into Philly's willingness to part with $3 million as a result of not cutting him Wednesday. It was the most logical move in terms of providing them the most options for 2013.

For more NFL news, rumors and analysis, follow @EyeOnNFL on Twitter, subscribe to our RSS Feed watch Pro Football 360 daily at 3 p.m. ET and NFL newsletter. You can follow Will Brinson on Twitter here: @willbrinson.

CBS Sports Senior Writer

Will Brinson joined CBS Sports in 2010 and enters his seventh season covering the NFL for CBS. He previously wrote for FanHouse along with myriad other Internet sites. A North Carolina native who lives... Full Bio

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