Michael Vick, who spent two years in jail and overcame bankruptcy, has signed a six-year deal with the Philadelphia Eagles worth a reported $100 million.

Ever since the Eagles took a chance on Vick in 2009, he’s impressed by earning the starting quarterback spot and leading the team to the NFC East title last season. He set career highs in yards passing, touchdowns passes, and rushing touchdowns.

“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,” Eagles coach Andy Reid said.

This is actually Vick’s second $100 million deal — he signed for $130 million in 2005 while with the Atlanta Falcons. But that contract was nullified by Vick’s off-the-field problems and time away.

Vick may not want to spend his money too quickly, though, since much of it will go to outstanding debts to creditors. No matter, it’s good news for the quarterback. But did the Eagles overspend on their star?

[CNN]