The team said there will be a press conference Tuesday afternoon to officially announce the deal.

“I’m very happy we were able to reach an agreement with Michael on this long-term contract,” said head coach Andy Reid. “It’s a product of all the hard work Michael has done to better himself over the last couple of years, both on and off the field.”

Vick led the Eagles to the NFC East title last season but they lost a home playoff game to the eventual Super Bowl champion Green Bay Packers. Philadelphia is a favorite to win the Super Bowl this season and appears to be primed for a run over the next few years and now those hopes are tied to Vick.

“I’m very proud that he has been able to achieve success again in this league, but he’ll be the first one to tell you that there is a lot of work yet to be done by him and this team as a whole,” Reid said. “And there’s no doubt in my mind that he will continue on that path. I give a lot of credit to Joe Banner and Joel Segal for getting this deal done.”

With this new deal, Vick will be under contract with the Eagles through the 2016 season. He was previously playing under the one-year franchise tender.