The terms of the deal, as reported by ESPN, are for a first year at $1.6 million with an option for the second year at $5.2 million.
The Eagles are expected to formally announce the signing at a press conference Friday morning.
This signing comes as a big surprise for many reasons, and, perhaps, the most sensible for another.
Rumors had been swirling over the past week about which team would ultimately land the embattled quarterback, with talks of a possible deal with Pittsburgh really turning heads in the last two days. Philadelphia was one of 26 teams who initially said that there was "no interest" in Vick.
That may have changed as the team prepared to leave training camp in Lehigh earlier this week.
The Eagles broke camp having already lost LB Stewart Bradley and TE Cornelius Ingram for the season due to injury. Earlier this week backup QB Kevin Kolb, who has been less than impressive when given the opportunity, suffered a strained knee ligament. The injury isn't considered serious, but may have been the proverbial straw that forced the team to take a closer look at Vick.
Per the conditions of his reinstatement, Vick can immediately begin participating in team activities and will be eligible to play in the final two preseason games. Commissioner Roger Goodell has said that he will consider whether or not to fully reinstate Vick by Week Six (Oct. 19) at the latest.
It was about that time last season that the Eagles began to sputter and almost played themselves out of the postseason. Perhaps Andy Reid feels that getting a fresh Vick at that point in the season this year could give his team an extra boost and help keep some key players (McNabb, Westbrook, and possibly the receiving corps) from getting injured.
Could Vick be the answer to getting Philadelphia that elusive Super Bowl win, or will he end up being too much of a distraction? Only time will tell, but for now Eagles fans can only hope that this deal makes the team anthem a little more prophetic.
Fly, Eagles fly. On the road to VICKtory!