Aug. 13 (Bloomberg) -- Michael Vick will return to the National Football League with the Philadelphia Eagles two years after pleading guilty to federal dog-fighting charges.

Vick signed a two-year accord, Eagles spokesman Derek Boyko said in an e-mail. The first year is worth $1.6 million with an option for a second year at $5.2 million, FoxSports.com reported. Before his conviction, the 29-year-old quarterback had a 10-year, $130 million contract at the Atlanta Falcons, making him the highest-paid player in the NFL.

While league Commissioner Roger Goodell probably won’t allow Vick to play in regular-season games until mid-October, or Week Six, the three-time Pro Bowl selection can practice with his new team and play in the last two preseason games under the terms of his conditional July 27 reinstatement. The Eagles play the Oakland Raiders on Oct. 18.

Goodell suspended Vick in August 2007 after he admitted federal charges of conspiring to run a ring that bought, trained and fought dogs in Virginia and other states. He was sentenced to 23 months in prison in December 2007 and served 18 months before being released in May.

Vick had been favored to sign with the New England Patriots or Pittsburgh Steelers, according to the Internet gambling Web site BetUS.com. The San Francisco 49ers and Buffalo Bills were 9-2.

Suspended

Goodell said preventing Vick from playing at the start of the season isn’t additional punishment, but is meant to “maximize the prospect” that he can successfully resume his life on and off the field.

Vick is also banned from owning a dog, Goodell said, and must follow a written plan submitted to the league that details his proposed living arrangements, his finances and his efforts on behalf of the Humane Society of the United States.

The 2001 No. 1 draft pick filed for Chapter 11 bankruptcy protection in July 2008, citing debt of $10 million to $50 million and assets in the same range.

Vick, who’s still serving three years probation, expresses remorse for his crime in an interview to be broadcast by CBS’s “60 Minutes” on Aug. 16.

“I should’ve took the initiative to stop it all,” he says, according to excerpts from CBS. “I didn’t step up.”

Vick had a 38-28-1 record as a starting quarterback with the Falcons. He completed 53.8 percent of his passes for 71 touchdowns and 52 interceptions, while averaging 52.1 rushing yards a game and an average of 7.3 yards per carry.

Playoffs

Philadephia made the NFL playoffs last season with quarterback Donovan McNabb, who has led the Eagles to five National Football Conference championship games and one Super Bowl appearance in the eight years.

McNabb was rewarded with a $5.3 million raise in the offseason, the Associated Press reported. The Eagles tore up his old contract with two years remaining and gave him a new deal worth $24.5 million over the next two seasons, it said.

Eagles President Joe Banner confirmed the signing during halftime in the Eagles 27-25 preseason loss to the Patriots at Lincoln Financial Field in Philadelphia.

The Eagles’ last two preseason games are on Aug. 27 against the Jacksonville Jaguars and Sept. 3 at the New York Jets. Philadelphia opens its season on Sept. 13 at the Carolina Panthers.

To contact the reporter on this story: Nancy Kercheval in Washington at nkercheval@bloomberg.net.

Last Updated: August 13, 2009 22:56 EDT