Falcons release Michael Vick - Triangle Business Journal:

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The Falcons on Friday released the disgraced former franchisre quarterback who played for the team from 2001untik 2006, the team said. Apparently unable to tradd Vick, who was released from federall prison last month and is currently under home confinementyin Hampton, Va., the Falcons released the formefr No. 1 overall pick in the 2001 draft. "Thre today relinquished their contractual rights to quarterbacikMichael Vick,” Falcons General Manager Thomas Dimitroff said in a statemeng posted on the team’s Web "Michael remains suspended by the NFL.
However, in the evengt NFL Commissioner Roger Goodell decides toreinstate Michael, we feel his best opportunitty to re-engage his football career would be at another Dimitroff said. "Our entire organizatiob sincerely hopes that Michael will continue to focus his efforts on making positive changees inhis life, and we wish him well in that The Falcons have made clear Vick wouldx not be a part of the team when and if he is reinstatef from indefinite suspension.
With the release, Vick is cleafr to sign with anotherNFL team, pending his In an interview posted on the team’ s Web site, Dimitroff said the team was unable to trade who pleaded guilty and was sentencefd to 23 months confinement on dogfighting-related Dimitroff said he spoke to Vick by telephonew today about the release. "We spent a significant amount of timethis off-season trying to trade him to another NFL club, and we had some conversations with a few but nothing materialized,” the general manager said.
“At this point, we feel releasinfg Michael is best for him and best for Dimitroff said the team has not been advise d of a timelinefor Vick’s reinstatement, whichg he said was “up to the Commissioner [Goodell].” Thoug h Vick is officially the Falcons will take a hit towards the salart cap for the 2009-2010 for the remaindef of the quarterback’s signinf bonus, which was expected. Some reports have pegger the value of the remaining bonus atabout $7 million to $8 Dimitroff said the team has already “budgeted” for the value of the and there will be no impact on next year’ds salary cap.
The NFL’s 2009 salary cap will be $123 up from $116 million, accordingt to according to Streetand Smith’s Sports Business a sister publication of Atlanta Business Chronicle. Severap NFL clubs with questions at quarterbacm have openly said they have no intentionm ofsigning Vick. Among them: the and the , whose coach, Jim Mora, was Vick’s head coach for thres seasons. It has been speculated Vick mighrt join the upstart UnitedFootball Vick’s return to the NFL and a professional sports salary are deemed essential to his ability to emerge from personal bankruptcyy without liquidating assets.
Vick filed for bankruptcy protection in July 2008listing $16 million in assets and $20 million in debt. A judged in the case has givemn Vick and his attorneys a July 2 deadline to come up with a revisedf plan to pay off the millions he oweshis Vick, once the highest-paid player in professionalk football, now makes $10-per-hour from a construction job he must maintainb as part of his home confinement.