Quarterback Michael Vick has been indicted by a federal grand jury for allegedly participating in a dogfighting ring. (Marc Serota/Getty Images)
NFL star quarterback Michael Vick threw a Hail Mary in his illegal dogfighting case Monday, agreeing to plead guilty to avoid any further charges.
"After consulting with his family this weekend Michael Vick asked that I announce today that he has reached an agreement with federal prosecutors regarding the charges pending against him," lead Vick attorney Billy Martin said in a written statement.
"Mr. Vick has agreed to enter a plea of guilty to the charges and accept full responsibility for his actions and the mistakes he has made. Michael wishes to apologize everyone who has been hurt by this matter," Martin's statement concluded.
Vick, 27, had been in talks with his attorneys last week and over the weekend. The trial was set to begin Nov. 26, after 11 games of the Atlanta Falcons' 16-game regular season would have already been played.
Vick Likely Headed to Prison
The charges could bring a maximum of five years in prison and a $250,000 fine for each defendant. Sources tell ABC News it might not be possible for Vick to avoid prison time.
The pressure was on for Vick -- one co-defendant entered into a plea agreement last month, and the remaining two men appeared in court Friday to do the same. Prosecutors reportedly offered Vick a plea deal that included at least a one-year prison sentence.
The government was set to possibly add more charges -- such as racketeering -- based on allegations contained in the co-defendants' statements of fact that Vick financed the alleged gambling operation associated with the suspected dogfighting ring.
Co-Defendants Pleas Pressured Quarterback
Vick, the Atlanta Falcons' starting quarterback, and his three co-defendants had all originally entered not guilty pleas July 26.
A week earlier on July 17, the federal government had filed an indictment against the foursome.
You can view the full indictment against Vick by clicking here.
Prosecutors say Vick, Purnell Peace, Quanis Phillips and Tony Taylor used a property Vick owns in Smithfield, Va., "as the main staging area for housing and training the pit bulls involved in the dogfighting venture and [for] hosting dog fights."
Michael Vick, of the Atlanta Falcons scrambles past Colts defensive end Dwight Freeney in the 2006 Pro Bowl.
Atlanta Flacons quarterback Michael Vick plead guilty to federal charges surrounding illegal dogfighting yesterday.

Arthur Blank, owner of the Atlanta Falcons, told the NFL Network he is, "not really surprised" by the news of his quarterback's plea. "From a personal standpoint, he's doing the right thing...That's been my counsel to him some while ago, and publicly as well, to get this behind him as quickly as he can," Blank said. However, Blank could not talk about Vick's future as a Falcon player. Sources reported that Vick's attorneys had hoped to receive notification from that National Football League Commissioner Roger Goodell's office concerning Vick's NFL future before he plead guilty. However, that reportedly never happened.

Defense attorney Billy Martin said, "After consulting with his family this weekend Michael Vick asked that I announce today that he has reached an agreement with federal prosecutors regarding the charges pending against him...Mr. Vick has agreed to enter a plea of guilty to the charges and accept full responsibility for his actions and the mistakes he has made. Michael wishes to apologize everyone who has been hurt by this matter."

Vick is scheduled to appear in a federal courtroom on August 27 in Richmond, Virginia.

The maximum term for the charges Vick plead guilty to is believed to be five years in jailtime and a $250,000 citation. However, sentencing guidelines likely would dictate less. Vick's defense attorneys did not release specific details concerning the plea agreement.