Michael Vick Pleads guilty!

After consulting with his family over the weekend, Michael Vick asked that I announce today that he has reached an agreement with federal prosecutors regarding the charges pending against him," the statement said.

"Mr. Vick has agreed to enter a plea of guilty to those charges and to accept full responsibility for his actions and the mistakes he has made. Michael wishes to apologize again to everyone who has been hurt by this matter."

Vick will now formally enter the guilty plea next Monday. The charges carry a maximum sentence of five years in prison and a $250,000 fine. The NFL Network is reporting that Vick's deal with federal prosecutors will see him sentenced to 10-12 months.

The NFL reacted to news of the deal by condemning Vick's conduct.

"We are aware of Michael Vick's decision to enter a guilty plea to the federal charges against him and accept responsibility for his conduct," an NFL spokesman said.

"We totally condemn the conduct outlined in the charges, which is inconsistent with what Michael Vick previously told both our office and the Falcons. We will conclude our own review under the league's personal conduct policy as soon as possible. In the meantime, we have asked the Falcons to continue to refrain from taking action pending a decision by the commissioner."