Blog Entry

Vick - and his creditors - will make big cash

Posted on: March 2, 2011 10:41 pm
 
M. Vick's creditors will be very happy with his new salary. Posted by Josh Katzowitz

Earlier today, we learned Eagles QB Michael Vick would (did?) sign his franchise tag tender, meaning he will make more than $16 million and perhaps up to as much as $20 million for the 2011 season.

Considering his base salary last season was $5.25 million, that’s quite a hefty raise.

Which doesn’t excite only Vick. It also must really, really excite Vick’s creditors from his federal bankruptcy case. As the Atlanta Journal Constitution points out, Vick reportedly still owes about $20 million from his 2008 case, and a good deal of his tender will funnel out of Vick’s bank account to those he owes money.

For instance, Vick made $6.8 million the past two seasons in Philadelphia. But he was allowed only to keep $300,000 of that.

Based on that percentage – though I don’t have any idea if what he’ll take home next year is even based on a percentage – Vick would get to keep $704,000 of $16 million and $880,000 of $20 million. Not too shabby, I suppose. But yeah, I’d rather have the full amount.

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Category: NFL
Comments

Since: Dec 2, 2011
Posted on: January 9, 2012 8:04 pm
 

Vick - and his creditors - will make big cash

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hgtrerte
Since: Dec 2, 2011
Posted on: December 7, 2011 10:03 pm
This comment has been removed.

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Since: Nov 14, 2009
Posted on: March 3, 2011 3:37 pm
 

Vick - and his creditors - will make big cash

Legal fees, restitution, and taxes/penalties put him 20 million+ under.



Since: Sep 25, 2006
Posted on: March 3, 2011 3:11 pm
 

Vick - and his creditors - will make big cash

How was he 20 million in debt??  Is that all from legal fees, or was it a fine for what he did?



Since: Nov 14, 2009
Posted on: March 3, 2011 1:18 pm
 

Vick - and his creditors - will make big cash

@ J-bardite,Finally, someone has some sense regarding this clown.  You have to admire how people treat "Mr. Vick" like he's a rehabilitated alcoholic, or like he battled and overcame cancer.  He pissed away his credibility to fund a dogfighting ring, which is ILLEGAL.  Bottom line, he's a thug.  If he was so credible, he wouldn't have been with the other thugs at a nightclub birthday party while one of them gets SHOT shortly after he gets out of LEAVENWORTH.  If you're in the spotlight, you keep a close eye on your behavior.  If you're a moron, you bankroll an illegal gambling ring, evade taxes, lie to the FBI, and hang out with strapped gunmen when you're already a multi-millionaire!  Yeah, "Mr. Vick" is a real, genuine person... he's just misunderstood (my ass).



Since: Aug 24, 2006
Posted on: March 3, 2011 7:53 am
 

Vick - and his creditors - will make big cash

and you wonder why we have problems in this country?  hunt fish or shoot dear or foxes? what the HELL does that have to do with killing dogs (because they dont fight well) and tax evasion?  just because you "lived" in Atlanta at the time, doesnt mean you KNOW THE FACTS!!  the guy WAS a scumbag, MAYBE he is turning a corner, as far as I am concerned the signs aren't great.  I live in the Phila area, I am a season ticket holder, I DON'T know shit about Michael Vick, other than the fact that he is a concvicted felon AND he was VERY close to a codefendant being shot last off season.  when a guy that helped send you to jail gets SHOT 10 minutes after stuffing cake in your face it looks BAD!!!

with al of this being said, who really cares?  when he retires from football, if he continues his late season ineffectiveness it wont take long, he will fade from the spotlight.  THANK GOD!!!



Since: Oct 10, 2007
Posted on: March 3, 2011 12:25 am
 

Vick - and his creditors - will make big cash

Sat all you want but at least he is paying off all hid debt! people continue to hate on Mr Vick, the same people that hunt fish for game or shoot dear or hunt foxes.Choose your poison and drink it! The irony is if his cousin weren't a snitch hed still be in Atlanta and loaded.I lived in Atlanta at the time all of this went down so I Know the facts.His nephew snitched him out because he was in so much touble he trhew his successful family member under the bus. Moral of the story: Dont fight dogs or buy your crarckhead cousin a chemistry set if he blows it up he'll blame it on you!



Since: Jun 25, 2009
Posted on: March 3, 2011 12:00 am
 

Vick - and his creditors - will make big cash

Not too mention, if and when he finally does buy himself out of debt, he'll enjoy his money for about five years and be bankrupt.  For some reason, I don't think he'll be the best money manager.  
Vick never had money problems man.... yeah, he spent money, but they seized a lot of property, cars, other things as well.
And if you don't believe that while all this was going on Vick didn't hide a bunch of money somewhere overseas or somewhere nobody can see it, you're nuts.



Since: Nov 14, 2009
Posted on: March 2, 2011 11:15 pm
 

Vick - and his creditors - will make big cash

Not too mention, if and when he finally does buy himself out of debt, he'll enjoy his money for about five years and be bankrupt.  For some reason, I don't think he'll be the best money manager.  


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