The Falcons and suspended quarterback Michael Vick have reached a settlement regarding a grievance that the team filed against him for a breach of contract.

Under the settlement, Vick has agreed to pay the Falcons $7.5 million if the team wins an appeal in the Eighth Circuit Court and $6.5 million if the court upholds U.S. District Judge David Doty’s decision that Vick is only liable for $3.75 million.

The settlement should pave the way for Vick’s imminent release from the team. He has remained under contract with the team while serving a 21-month prison term for his 2007 conviction for bankrolling a dogfighting operation.

In the settlement reached last week, sources say that Vick agreed to let the appeals court make a ruling but would only pay a maximum of $7.5 million and a minimum of $6.5 million. The appeals court is expected to rule no later than June.

While it’ll be nice for the Falcons to get some money back from Vick, from a fan’s perspective the question becomes, does the team get any cap relief in this settlement? Atlanta catches a break in terms of the salary cap with Vick being suspended and he’ll never see the money owed to him in 2010 through 2012 because the Falcons will eventually release him, but what about 2009? If commissioner Roger Goodell doesn’t suspend him again once he’s out of prison, then Vick is owed $9 million in 2009, plus another $6.43 million in roster bonuses. Can the Falcons apply the $7.5 million they will/could get in the contract settlement towards that lofty cap number in 2009? Or do they still have to eat his salary because they’re releasing him? Is there life on other planets? What’s the meaning of life? Did a comet really kill all the dinosaurs or was it all just a part of evolution?

I need a drink.

The United Football League is hoping to debut in August of this year and maybe attract a fan or two. UFL Commissioner Michael Huyghue figures one way to do that is to recruit a big name from prison, err, the NFL.

Last year, UFL Commissioner Michael Huyghue was candid regarding his league’s desire to offer an opportunity to Falcons quarterback Mike Vick, who might very well be suspended for a year (or more) after being released from federal custody in July. Last month, Huyghue backed off considerably, suggesting that the UFL would bow to the will of the fans. Are there any? Apparently, there are — and Huyghue apparently has consulted with them. And they apparently want Vick. According to Howard Balzer of the Sports Xchange, the UFL is believed to be plotting a run at Vick. The only potential impediment would come from a decision by the Falcons, if they don’t release him, to invoke the language in his contract preventing him from playing in any other league while on suspension. But assuming the Falcons don’t cut Vick, perhaps they’d be able to conjure a trade market for 2010 by letting Vick run circles around the slappies that will be populating the UFL.

It won’t matter if the UFL gets Vick, Joe Montana and Hershel Walker to play – it’s doomed. I don’t understand why these leagues think they can compete with the NFL. Why would you start your season in August with the NFL starting its season in September? If you want to have any chance of succeeding, play in the spring when people are in their Super Bowl hangover and would watch any kind of football. It just doesn’t make any sense to go head to head with the most popular league in the world.

That said, trying to lure Vick to playing in the league isn’t a bad idea by Huyghue. He has a new product and needs to draw attention to it – any form of attention. Regardless of whether or not people hate him, they’ll still tune in to see how Vick will look in pads again. It’ll be interesting to see whether or not the Falcons release him by that point and he catches on with the new league.