Vick is still a Falcon for financial reasons

By Charles Edwards

Atlanta, GA – In a federal court in Virginia today, Atlanta Falcons quarterback Michael Vick pleaded guilty to a single count of conspiracy to dog fighting.

Then, Vick held a brief news conference to apologize for his actions. A judge will sentence him in December.

In Atlanta, Arthur Blank today said he was profoundly disappointed in Vick. But the Falcons' owner also said he's keeping the quarterback on the team for now.

Many animal rights activists and others have called on the Atlanta Falcons to cut ties with Vick altogether.

Today, Blank said that's easier said than done.

BLANK: "It's not as simple as standing here today and telling you, We're terminating Michael's rights. We simply can not do that. It's not in our fans or in our franchise's best interests."

If the Falcons terminate Vick's contract, the team can't recoup his 22 million dollar signing bonus under NFL rules. Without Vick, the Falcons will need that money to sign more players.

It's unclear how much of the 22 million the Falcons will be able to recover from Vick. An NFL mediator will help settle the issue.