The settlement should pave the way for Vick's imminent release from the team. He has remained under contract with the team while serving a 21-month prison term for his 2007 conviction for bankrolling a dogfighting operation.
"We were able to resolve our claim in a way that was acceptable to Michael and acceptable to us," team president Rich McKay said. "It was just a good, old-fashioned negotiation."
The Falcons were awarded a $20 million claim by the NFL's special master in a grievance filed against Vick, alleging he breached his contract when he was criminally convicted. However, Doty overturned the special master's ruling, saying that Vick was only responsible for $3.75 million, a pro-rated amount of his signing bonus.
In the settlement, Vick agreed to let the appeals court make a ruling but would only pay a maximum of $7.5 million and a minimum of $6.5 million. The appeals court is expected to rule no later than June.
The settlement was reached ahead of Vick's bankruptcy hearing Thursday in Norfolk, Va. He arrived in Virginia Monday afternoon from his holding cell in Leavenworth, Kan., and is being held at Western Tidewater Regional Jail in Suffolk, Va. Vick was being held in a general population block but had limited contact with other inmates, said Lt. Tanya Scott, the facility's spokeswoman. She said one of Vick's attorneys met with him Tuesday, but he'd had no other visitors.
A bankruptcy judge in Newport News ordered Vick to testify in person at his hearing. He was required to pay the costs of his transfer from the federal penitentiary in Leavenworth, Kan., where he's been serving a 23-month sentence for his role in the dogfighting operation.
Vick has been approved for transfer to home confinement no sooner than May 21, about two months before his scheduled release from federal custody. After that, he hopes to resume his NFL career.
It won't be in Atlanta.
By Chris MortensenESPN.com
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