If a couple years ago most player contracts contained moral clauses, you better believe that in the wake of the Michael Vick case, almost every athlete will encounter such a clause when signing a deal with a team and/or sponsor. The clause often gives the team or sponsor the right to terminate the contract and may even call for the return of any signing bonus handed out after the parties sign. Criminal behavior will undoubtedly bring the clause into effect, and oftentimes, it takes much less for one side to threaten calling it into action.
Brian Socolow recently wrote an article in Moves Magazine, titled, What Every Player Should Konw About Morals Clauses. It is a very interesting and short read. Go check it out here.
HT to Michael McCann of Sports Law Blog for the heads up on the article.