Michael Vick will be in green this fall. It just won’t be the Jets’ shade.

Vick signed a new three-year deal with the Eagles yesterday, which is actually a one-year deal to remain with Philadelphia and compete for the starting quarterback job. Vick’s new deal is for $7 million, with another $3 million possible through incentives, according to multiple reports.

The signing removes one player from an already shallow pool of potential options for quarterback-needy teams like the Jets. It was highly unlikely the Jets would have pursued Vick had he become a free agent, according to several sources, but there would have been plenty of speculation.

What it means for the Jets is that teams like the 49ers and Seahawks just got more leverage over teams interested in making a trade for their backups — Alex Smith and Matt Flynn, respectively. This year’s free-agent and draft classes have very few frontline quarterbacks. Smith and Flynn are expected to be on the market when teams can begin to make trades March 12. Without Vick as an alternative, the asking price for Smith and Flynn just went up.

Incumbent starter Mark Sanchez is expected to be back with the Jets in 2013, but with competition. New general manager John Idzik has stressed the idea of competition at every position, but he has specifically mentioned quarterback.

The Jets are expected to explore the trade market for a quarterback, but could wind up signing one of the cheaper veteran free-agent alternatives such as Matt Moore or Jason Campbell. They also could take a quarterback in the draft, creating a three-way competition in the spring and summer with Sanchez.