Two years after a triumphant return to the National Football League, the 32-year-old southpaw struggled through a miserable 2012 campaign.
However, since a clause in Vick's deal permits the Eagles to keep Vick on the roster until the start of free agency on March 12 without having to pay the guaranteed money, as long as another team picks him up or pays him more than $3 million, the odds are still pretty good that Vick's time in the City of Brotherly Love has come to an end.
That makes the question of what helmet Vick will don for his 11th NFL season still very much an open-ended one, and here's a look at the odds for some of the leading contenders.
After a miserable 4-12 2012 season, it appears safe to say that the Carson Palmer experiment in Oakland has been a complete disaster.
Palmer is owed $13 million in base salary in 2013, and with Palmer now 33 and the Raiders both rebuilding and in bad shape salary cap-wise there's next to no chance they're going to pay Palmer that exorbitant sum.
However, that same salary cap situation could keep Oakland from being a serious bidder for Vick on the open market.
After the Palmer deal blew up in the team's face it's also unlikely that they'd be willing to once again offer a package of picks for an aging signal-caller.
Odds Vick Plays for the Raiders in 2013: 5 percent
After a second straight poor season it's become rather evident that Blaine Gabbert is not going to be the answer at quarterback for the Jacksonville Jaguars.
However, the Jaguars don't appear to be giving up on Gabbert just yet. According to John Oehser of the Jaguars' website, general manager David Caldwell said as much in a recent radio interview.
The team is expected to at least bring in some competition for Gabbert, which could lead the Jaguars to kick the tires on acquiring Michael Vick.
Whether that interest would be mutual given the state of the Jaguars is another story, as it's rather hard to see Vick signing on for a massive rebuilding project in Jacksonville.
Odds Vick Plays for the Jaguars in 2013: 10 percent
This new staff had nothing to do with the selection of 29-year-old Brandon Weeden in the first round of the 2012 NFL draft.
In fact, at Turner's introductory press conference Chudzinski said that it was "premature" to anoint Weeden as Cleveland's starting quarterback in 2013, according to Scott Petrak of The Chronicle-Telegram.
Vick played under Cleveland CEO Joe Banner in Philadelphia. However, that relationship may not be enough to convince Vick to come compete for the starting job on a mediocre football team, and the Browns likely aren't to willing to part with much in a trade.
Odds Vick Plays for the Browns in 2013: 10 percent
Like many of the teams on this list, the Buffalo Bills have a new head coach. Doug Marrone will try to lead the team back into contention in the AFC East.
The Bills entered last year as a trendy playoff pick after making big waves in free agency, but another last place finish in the division has cast serious doubts over the wisdom of the big extension that the team signed Ryan Fitzpatrick to in 2011.
If the Bills truly feel that they are that mythical "one player away" from the playoffs, and Marrone feels Vick could be that player, then this is a move that makes a ton of sense.
However, it's every bit as plausible that the Bills will look to their future at quarterback in this year's draft, using Fitzpatrick as a bridge to a rookie signal-caller.
If that's the case, then western New York isn't the place for Michael Vick.
Odds Vick Plays for the Bills in 2013: 15 percent
Say what you want about Michael Vick's disastrous 2012 season.
At least he didn't butt fumble.
If Vick's season was a disaster then Mark Sanchez's year with the New York Jets was apocalyptic, and with Rex Ryan fighting for his job in the Big Apple it's not at all hard to envision Ryan lobbying hard for the team to make a run at Vick.
However, as ESPN's Johnette Howard recently pointed out, the team's last two experiments with "celebrity" quarterback signings were absolute disasters, and it's hard to fathom why Vick would want to finish out his career with the NFL's most dysfunctional team.
Add in the Jets' terrible salary cap situation, and this one is all but certainly more hype than happening.
Odds Vick Plays for the Jets in 2013: 15 percent
The Arizona Cardinals are a perfect example of just how quarterback-driven the NFL has become.
Last year, with Kevin Kolb playing well, the Cardinals raced out to a 4-0 start. Then Kolb got hurt, the wheels fell off and Arizona won only one game the rest of the way.
New head coach Bruce Arians recently told ESPN's Mike Sando that he feels Kolb is a "good enough" quarterback if afforded time to throw the ball, but that's not exactly a ringing endorsement for a quarterback set to make $9 million in 2013.
If Arians decides that Kolb isn't the answer, then the Cardinals could offer Vick the chance to start, with a top-flight wide receiver in Larry Fitzgerald to throw the ball to.
That just might be enough.
Odds Vick Plays for the Cardinals in 2013: 20 percent
Finally, there's the very real possibility that Michael Vick isn't going anywhere.
If new head coach Chip Kelly wishes to implement his up-tempo, read-option spread offense from Oregon in Philadelphia, then he's going to need a mobile quarterback.
Michael Vick may be many things, but he still has wheels.
As Elliott Shorr-Parks of NJ.com recently reported, there have been any number of conflicting reports regarding Vick's future with the Eagles, from news that his contract was being restructured to reports calling his release imminent.
Tim McManus of Philadelphia Magazine reports that after meeting with Kelly, Vick is "open" to the idea of returning to the Eagles in 2013.
It's far from a certainty, and it may not be a long-term situation, but the smart money here says that's what happens.
Odds Vick Plays for the Cardinals in 2013: 25 percent