The news created a firestorm on Twitter as some fans are still upset.
The deal comes just a year after Vick was released from federal prison for his implications in dog fighting.
Vick, who served 19 months at federal penitentiary at Leavenworth, Kan., on felony dogfighting charges before joining the Philadelphia Eagles as a third-string quarterback two years ago, signed one of the richest contracts in NFL history.
His deal makes him the third-highest-paid player in the NFL, behind only Patriots quarterback Tom Brady and Colts quarterback Peyton Manning.
The Associated Press contributed to this report.
