July 26 (Bloomberg) -- Michael Vick’s endorsement contract with sports nutrition company Fuse Science Inc., signed earlier this month, was terminated because the Philadelphia Eagles’ quarterback agreed on a deal with a competitor, Fuse’s parent firm said.
Vick signed a five-year agreement with Fuse, a sports nutrition company owned by Double Eagle Holdings Ltd., on July 7. The deal included cash, stock and stock options with the parent company.
On July 22, MusclePharm Corp., said in a news release that Vick agreed on a three-year, $1.55 million endorsement deal, and that it was, in fact, the exclusive sports nutrition company of Vick.
“Subsequent to our entering into and announcing the exclusive agreement, we learned that on or about July 20, 2011, Mr. Vick entered into an endorsement agreement with another company engaged in the same product categories, notwithstanding the exclusivity provisions of our agreement,” Aventura, Florida-based Double Eagle said today in a filing with the U.S. Securities and Exchange Commission. “This created an unacceptable conflict and, accordingly, on July 25, 2011, we terminated the agreement with Mr. Vick.”
Telephone and e-mail messages left for Vick’s marketing agent, Andrew Stroth, and contract agent, Joel Segal, seeking comment on the Double Eagle release weren’t immediately returned. Telephone and e-mail messages left for Annette Dallavalle, a spokeswoman for Denver-based MusclePharm, seeking comment on the release also weren’t immediately returned.
Signing With Nike
Vick, 31, re-signed with Nike Inc., four years after being dropped by the world’s largest sporting-goods company after he admitted to his role in a dog-fighting ring.
Vick served time in federal prison on the dog-fighting-related counts, and then played the past two seasons with the Eagles.
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