PHILADELPHIA -- The Philadelphia Eagles have placed their franchise tag on quarterback Michael Vick, according to Philly.com.
Under the rules of the expiring collective bargaining agreement, the franchise tag ensures that Vick will receive a one-year contract for the average of the five highest-paid players at the position throughout the league.
The franchise tag also gives the two sides an opportunity to work out a long- term contract, if they choose to do so.
Vick threw for 3,018 yards and 21 touchdowns, while being intercepted six times, in helping lead Philadelphia to the 2010 NFC East division title in his first season as a starter since 2006. The former incarcerated star and Comeback Player of the Year earned a starting nod in this year's Pro Bowl.
The Eagles have also reportedly placed the transition tag on kicker David Akers, which will give the team the right to match an offer from any other club around the league.
The transition tag also requires the Eagles to tender a one-year offer to the 12-year veteran for the average of the ten highest-paid kickers and punters throughout the NFL.
Akers was 32-for-38 in field goal tries and made all 47 PAT attempts en route to 143 points last season. The Pro Bowl kicker is the all-time franchise leader in games played, points and field goals.