Michael Vick has agreed to pay the Atlanta Falcons $6.5 million as part of his bankruptcy case, clearing the way for the team to release him before training camp.

The settlement was reached ahead of Vick’s bankruptcy hearing in Virginia on Thursday. Vick arrived in Virginia Monday afternoon and is being held at Western Tidewater Regional Jail in Suffolk, Va.

According to a bankruptcy court filing, Vick and the Falcons have settled the Falcons’ claims that Vick owed them nearly $21.2 million for bonuses he received before his guilty plea to federal dogfighting charges.

Under the settlement, which still must be approved at Thursday’s bankruptcy hearing in Virginia, the team would receive $7.5 million if it wins the appeal or $6.5 million if the lower amount is upheld.

While Vick is still technically part of the team, the Falcons moved on a year ago when they drafted Matt Ryan with the No. 3 overall pick. He had a stellar debut season, leading Atlanta to an 11-5 record and an unexpected spot in the playoffs while earning the Associated Press offensive rookie of the year award.

The team had no comment on the settlement, though everyone in the organization looks forward to dealing with no more questions about Vick.

“I’m pretty much sure it’s behind us now,” running back Michael Turner said. “It’s over.”

Hookscenter.com wire report.