RICHMOND -- Putting his career in jeopardy, Atlanta Falcons quarterback Michael Vick has agreed to plead guilty next week in his federal dogfighting case.

In doing so, Vick -- a Newport News native who starred at Virginia Tech before leaving early in 2001 to join the NFL -- will admit to taking part in disturbing actions detailed in an 18-page federal indictment.

"Mike's accepting full responsibility," longtime Vick attorney Lawrence Woodward said Monday, announcing the decision. "He's going to do everything he can personally and professionally to make this situation right."

A guilty plea means Vick, 27, faces prison, fines and a lengthy league suspension. He also avoids the certainty of more serious charges, including racketeering, in a superseding indictment from a grand jury that convened Monday. Still possible, however, is prosecution by the state of Virginia on animal cruelty charges that could carry up to 40 years in prison.

Thomas Shuttleworth, another of Vick's lawyers, said Vick finalized his plea agreement Friday, the same day two of his co-defendants entered guilty pleas in Richmond as part of deals that would have required them to testify against Vick at trial. Shuttleworth said Vick spent the weekend deciding whether to make an announcement, then let his attorneys release a statement Monday.

Vick's co-defendants -- Quanis Phillips, 28, of Atlanta, and Purnell Peace, 35, of Virginia Beach -- signed statements that say for several years Vick financed a pit-bull fighting business, called Bad Newz Kennels, and provided money to bet on the group's sponsored matches. They also say Vick once joined in the execution of about eight dogs by way of drowning and hanging.

"Mike is truly remorseful for what happened," Shuttleworth said. "He believes in the power of redemption."

Added Billy Martin, another of Vick's five attorneys: "Michael wishes to apologize again to everyone who has been hurt by this matter."

The plea deal, in its form last week, was expected to include a recommendation from prosecutors that Vick serve at least a year in prison, according to two sources familiar with the discussions.

The sentencing guidelines for Vick will likely call for 12 to 18 months of prison time, if he receives the same base offense level that prosecutors promised two of his co-defendants, said Barry Boss, a criminal defense attorney and former co-chairman of the U.S. Sentencing Commission's Practitioners' Advisory Group. Vick also faces a fine of as much as $250,000.

Sentencing guidelines are only advisory, however, and U.S. District Judge Henry Hudson will have the final say in Vick's punishment.

In an unusual move, Hudson announced Vick's plea hearing, set for Monday morning, from the bench, speaking to a courtroom of about 20 people, most of whom appeared to be reporters. Federal judges typically do not announce plea agreements.

Another defense attorney, Daniel Meachum, was asked whether the plea offer was structured to avoid any possible gambling exposure that might hurt Vick's chances of playing in the NFL.

"I think it would be disingenuous if I'm focusing on football," Meachum said. "I am concerned about his life. Football will take care of itself. I'm concerned about how he picks up the pieces."

In pleading guilty, Vick -- who has a $130 million contract with the Falcons -- could face severe sanctions from the NFL. The NFL released a statement Monday that said the conduct outlined in the federal charge against Vick is "inconsistent" with what Vick had told league officials and his team.

"We totally condemn the conduct outlined in the charges, which is inconsistent with what Michael Vick previously told both our office and the Falcons," the statement said. "We will conclude our own review under the league's personal conduct policy as soon as possible. In the meantime, we have asked the Falcons to continue to refrain from taking action pending a decision by the commissioner."

League Commissioner Roger Goodell said last week that the NFL was reviewing the case and was closely monitoring talks between Vick's lawyers and prosecutors. He banned Vick from attending the Falcons' training camp after the star quarterback was indicted in July with his three co-defendants.

"We're going to do what we always said we were going to do, which is rely on the facts," Goodell said. "If there is some type of a plea agreement, then we will obviously take the time to understand what that plea is, and we'll see how it fits into our personal conduct" policy.

The Falcons also issued a statement Monday.

"We are certainly troubled with the news today concerning Michael Vick's guilty plea to federal charges," the statement said. Goodell "has asked us not to take any action until he has completed his own review of Michael's situation. Accordingly, we will have no further comment until that time."

The NFL's recently toughened player conduct policy empowers Goodell to fine, suspend or impose a lifetime ban on players for criminal behavior. He has levied harsh penalties on players for being arrested.

Animal rights activists say Vick's case drew enormous attention to the underground world of dogfighting. "This case has opened America's eyes and jolted its conscience," said Wayne Pacelle, president and chief executive officer of the Humane Society of the United States.

Vick may still face charges in state court over dogfighting or animal cruelty, though Shuttleworth said he hoped Vick's guilty plea on the federal charge would negate the need for such action.

Surry County Commonwealth's Attorney Gerald Poindexter said Monday that he plans to pursue local charges. The next Surry County grand jury, which must review charges on new defendants, meets Sept. 25.

"I intend to prosecute to the fullest extent anything I can prosecute him on in Surry County," Poindexter said.

Vick's sentencing date will be set at his plea hearing.

The Associated Press contributed to this report.