Updated: 9:30 p.m.
Michael Vick has found a new home.
The Jets on Friday signed Vick and released quarterback Mark Sanchez. A source tells Comcast SportsNet's Derrick Gunn that Vick's deal is for one year at a little more than $5 million.
"I want to personally wish Michael Vick and his family all the best as he heads into the next phase of his career in New York," Eagles owner Jeffrery Lurie said in a statement Friday. "I really enjoyed getting to know him over the last five years. He always represented our team with a tremendous amount of class. Michael was a great teammate, a great leader and we're thankful for everything he provided to our organization and to our community."
Vick used an opportunity from the Philadelphia Inquirer to thank the Eagles and their fans.
"I would like to thank the Eagles and the entire city of Philadelphia," Vick wrote. "I was honored to be their quarterback and took the privilege to heart every day. I especially want to thank Jeffrey Lurie and Andy Reid, who gave me the opportunity. I want to thank my teammates, who were not just coworkers, but friends. I also want to thank the millions of fans who cheered and supported our team."
Vick had been looking to land with a team willing to give him a chance to start again. He'll enter training camp in competition with Geno Smith for the starting job.
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"It means a lot to have the chance to come in and play for a great organization that had a lot of success last year and being on the brink of doing some good things," Vick said in a statement, via the Jets' website. "Maybe I can come here and be an asset whenever my number's called. I'm excited, I'm elated, and I feel like this is a great opportunity for me and my family."
The 33-year-old Vick will be reunited with Jets offensive coordinator Marty Mornhinweg, who served as the Eagles' offensive coordinator for four of Vick's seasons in Philadelphia.
"We are excited to acquire Michael Vick," Mornhinweg said. "He's a great talent who's won many games, including playoff games, in this league. He has the respect of both his teammates and opponents. He's here in a role where he’s going to compete and push Geno Smith to become the very best that he can be. Michael will be able to go in and play at a high level and a winning level if called upon."
Vick began last season as the Eagles' starter after beating out Nick Foles in training camp, but a hamstring injury and Foles' strong play cost him the starting job. Vick finished the season as Foles' backup, earning praise for his veteran leadership along the way.
Vick signed with the Eagles in 2009 after serving more than a year and a half in federal prison for running a dogfighting ring, and one year later he found himself starting for the Birds.
When a concussion sidelined Kevin Kolb in Week 1 against the Packers in 2010, Vick entered and threw for 175 yards and a touchdown while also rushing for 105 yards on 11 rushes. He became the permanent starter after that performance.
Vick finished the 2010 season with 3,018 passing yards and 676 rushing yards and 30 total touchdowns (21 passing, nine rushing), earning himself a $100 million contract extension in the process.
He not only resurrected his football career but also his reputation as a citizen. He's backed a federal bill that would make bringing kids to dogfights a felony, and he's worked with the Humane Society to educate children about the horrors of dogfighting. After being legally prevented from owning a dog, Vick adopted one once those sanctions were lifted. Last year, Vick donated $200,000 to renovate a youth football field in North Philadelphia.
His success on the football field was hampered by injuries and inconsistency. Only once in his career has he played a full 16-game season (2006 with the Falcons). For every spectacular play, he'd commit a costly turnover. Vick in his five seasons as an Eagle passed for 9,984 yards, rushed for 1,998 and accounted for 72 touchdowns (15 rushing). He threw 33 interceptions and had 36 fumbles.
After last season, Vick insisted he still could be a starter, and now he'll get another chance to prove it.