According to a New York Times source the government may be pushing a plea offer to Michael Vick and his attorneys. The most serious charges levied against Michael Vick may not directly relate to dog fighting or cruelty to animals but to illegal gambling.  Those potential crimes could land Vick in jail and might force a mandatory ban from the NFL for life.

In the indictment brought by the government July 17, the government said that after a dog Vick sponsored in a fight lost in March 2003, “he retrieved a book bag from a vehicle containing approximately $23,000 in cash,” and gave the money to the owner of the winning dog.

Vick and his lawyers continued to weigh whether to accept a plea agreement from the government that would probably put Vick in prison for one to two years, according to a person with direct knowledge of the case. The person spoke on condition of anonymity because he was not authorized to discuss the case publicly. Vick’s trial date is Nov. 26, and he will face up to five years in prison if he is found guilty.

Greatest Threat to Vick May Be Links to Gambling – New York Times

Speculation

With the pair of threats and now all three of his co-defendants lined up to testify against Vick, I suspect three things might work themselves out in the saga around Michael Vick:

1. He might push for a plea that does not convict him of gambling so that he might potentially be able to return to the NFL after he gets out of prison.
2. His lawyers might seek an immediate gag order in the trial so additional leaks of the plea deal do not surface. 
3. Vick might let the stress and frustration get the best of him and lead him into more trouble.  He has a history of letting public stress get to him and impair his behavior.  With 3 months to stew on his problems he might not be able to play it safe or smart.