Sportswear giant Nike (NKE) cut its ties with Atlanta Falcons quarterback Michael Vick Friday following his plea on dogfighting charges.

A company statement said Nike considers any cruelty to animals inhumane and unacceptable.

Nike suspended Vick's contract last month. Terms of his deal with Nike have not been released.

Click here to read Vick's plea agreement.

The NFL suspended Vick indefinitely Friday following his plea agreement portraying himself less involved in dog fighting that some co-defendants but guilty of poor judgment.

He said he bankrolled betting but denied placing bets or taking money.

He admitted that dogs not worthy of the pit were killed by himself and two co-defendants.