According to TMZ, Michael Vick has officially plead guilty to a federal dogfighting charge. Vick entered his guilty plea before a U.S. District Court judge in Richmond, VA. this morning.

U.S. District Judge Henry E. Hudson, who accepted Vick's plea, asked the QB, "Are you entering the plea of guilty to a conspiracy charge because you are in fact guilty?" Vick quickly answered, "Yes, sir." The judge replied, "You're taking your chances here. You'll have to live with whatever decision I make." Michael Vick's attorney announced that Vick would face the media around 8:30 AM PST.

Vick is now awaiting his sentence date, sources say he's facing some serious time in prison--but than again they said they same thing about Lohan.

UPDATE:

A statement from Vick:
"I was ashamed and totally disappointed in myself, to say the least. I want to apologize to all the young kids out there for my immature acts. What I did was very immature, so that means I need to grow up."

"I totally ask for forgiveness and understanding as I move forward to be a better Michael Vick the person, not the football player."

As for the NFL: Vick is suspended indefinitely.