Arthur Blank Says He Can’t Cut Michael Vick Until He Pays Back $22 Million Bonus.

Two hours after Michael Vick formally entered his guilty plea in his dogfighting involvement, team owner Arthur Blank addressed the team’s official stance in the matter.

Blank said he has accepted quarterback Michael Vick’s apologies and he does not plant to cut Vick right now.

Cutting Vick now, “would be a short-term fix at the expense of our long-term success,” Blank said. “We can not tell you today that Michael is cut from the team. Cutting him may feel better today, emotionally for us and many of our fans, but it’s not in the long-term best interest of our franchise.

“We’re putting the emotions, the shock the disappointment, the anger, the once-held-hope that this was not true, behind us.”

Blank did say however that he plans to recoup the $22 million signing bonus the team paid to secure Vick as their quarterback of the future.  The team issued a letter of demand for collection to Vick’s representatives today.

From a legal standpoint, the Falcons have to keep Vick on the roster while the team pursues the bonus money.