"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," lead defense attorney Billy Martin said in a statement. "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's plea hearing will be Aug. 27, Martin said. The offense is punishable by up to five years in prison and a $250,000 fine, although federal sentencing guidelines most likely would call for less.

For more information or to share your thoughts on the Vick case, post them here or click here khou.com top stories.