In an interview that appeared on the team's website on Friday, Dimitroff said, "With regards to Michael Vick, we've decided to seek a trade of his contractual rights to another NFL club."
Vick is currently in federal prison on felony charges related to dogfighting and is scheduled to be released in July.
Vick has a contract that runs to 2013 and calls for him to receive a base salary of $9 million and a bonus of $6.43 million in 2009. The remainder of the contract is worth $45.11 million, with another possible $3 million in Pro Bowl bonuses.