Mike Vick & Eagles agree 6yrs/$100 mil, $40 mil guaranteed

[Monkeydad]

According to Mike and Mike this morning, Vick owes $19 million from his bankruptcy.

40% of his earnings over $10 million automatically go to creditors. He owes $6 million to the Falcons too. IF he plays 5 years, he'll have his debts related to the bankruptcy paid off.

Of the $100 million, only $40 million is guaranteed. Cut that in half after taxes. $20 million earned...$19 million owed and will be paid by court order...haha.

He BETTER stay healthy for his sake, or he'll be in the poor house, or back in prison for not repaying debts.



He's dug his own financial grave. No sympathy. Atlanta gave him a $120 million contract and he had to file bankruptcy?

Instead of "celebrating a redemption story", I'm not going to be naive enough to think someone who (not a complete list I'm sure), was stopped in an airport for drugs, flipped off fans in the stands, murdered living creatures in an illegal gambling ring and apparently doesn't pay his debts is suddenly an upstanding citizen who suddenly has no blemishes in his personality and lifestyle after sitting in jail. You can bet he still has contact with his old circle of friends and followers and has temptations to slip back into his old lifestyle. What will having income again do to him? Sure, he's doing the mandated speaking tours on being nice to animals and having his agents and consultants write some noble sounding lines to spew in front of the cameras, but we can not seriously expect someone tied up in so many degenerate activities and with such a polarizing personality to suddenly do a complete 180. He may not be running or even showing up to dogfights, but who knows...is he having his friends just send him i-Phone videos so he can watch? Is he texting his bets in now, while appearing to be at a safe distance from the South's dogfights up here in PA? I'm not accusing him without basis, just wondering if he's honestly gone from a drug-using, animal-killing thug to a saint in a few short years. I'd like to believe he's a better person, but none of us know his personal life...just the PR side that the Eagles, media and the NFL want us to see.

We'll see if he can behave for the rest of his life. If he does, I'll be the first to praise him. However, I'm just not ready to celebrate and congratulate someone who did so much wrong while other players like Drew Brees and even lesser-noticed players like Lorenzo Alexander are genuinely good people doing great things in their community WITHOUT being forced by courts to do so, go generally unspoken about. Instead of fabricating some great "redemption story" about someone we want to be a role model but has been the polar opposite in every way, why don't we talk about and reward those who do what's right on their first try?

[freddyg12]

Originally Posted by Monkeydad

According to Mike and Mike this morning, Vick owes $19 million from his bankruptcy.

40% of his earnings over $10 million automatically go to creditors. He owes $6 million to the Falcons too. IF he plays 5 years, he'll have his debts related to the bankruptcy paid off.

Of the $100 million, only $40 million is guaranteed. Cut that in half after taxes. $20 million earned...$19 million owed and will be paid by court order...haha.

He BETTER stay healthy for his sake, or he'll be in the poor house, or back in prison for not repaying debts.



He's dug his own financial grave. No sympathy.

He's back w/Nike though & even if his agent his half assed at getting deals for him, he'll make some good money w/endorsements. He'll never be that big time Q rating guy like Jordan, but he should be able to set himself up pretty well.

[kali3]

Originally Posted by freddyg12

He's back w/Nike though & even if his agent his half assed at getting deals for him, he'll make some good money w/endorsements. He'll never be that big time Q rating guy like Jordan, but he should be able to set himself up pretty well.

I'm absolutley shocked that Nike would sign him. There's a heck of a lot more dog lovers out there than Eagles fans. I cant see how this doesnt hurt a company like Nike more than help them.

Unless of course Vick's deal with Nike is a Jersey Shore Abercrombie and Fitch thing were the sponsor is paying Vick NOT to wear their logos!

It's one thing for him to get minor local endorsement deals in the Philly area (Philly fans would most likely root for Osama bin Laden if he could have a 110 QB rating for them) its quite another for a convicted dog killer to get a national sponsorship deal.

[firstdown]

Originally Posted by Monkeydad

According to Mike and Mike this morning, Vick owes $19 million from his bankruptcy.

40% of his earnings over $10 million automatically go to creditors. He owes $6 million to the Falcons too. IF he plays 5 years, he'll have his debts related to the bankruptcy paid off.

Of the $100 million, only $40 million is guaranteed. Cut that in half after taxes. $20 million earned...$19 million owed and will be paid by court order...haha.

He BETTER stay healthy for his sake, or he'll be in the poor house, or back in prison for not repaying debts.



He's dug his own financial grave. No sympathy. Atlanta gave him a $120 million contract and he had to file bankruptcy?

Instead of "celebrating a redemption story", I'm not going to be naive enough to think someone who (not a complete list I'm sure), was stopped in an airport for drugs, flipped off fans in the stands, murdered living creatures in an illegal gambling ring and apparently doesn't pay his debts is suddenly an upstanding citizen who suddenly has no blemishes in his personality and lifestyle after sitting in jail. You can bet he still has contact with his old circle of friends and followers and has temptations to slip back into his old lifestyle. What will having income again do to him? Sure, he's doing the mandated speaking tours on being nice to animals and having his agents and consultants write some noble sounding lines to spew in front of the cameras, but we can not seriously expect someone tied up in so many degenerate activities and with such a polarizing personality to suddenly do a complete 180. He may not be running or even showing up to dogfights, but who knows...is he having his friends just send him i-Phone videos so he can watch? Is he texting his bets in now, while appearing to be at a safe distance from the South's dogfights up here in PA? I'm not accusing him without basis, just wondering if he's honestly gone from a drug-using, animal-killing thug to a saint in a few short years. I'd like to believe he's a better person, but none of us know his personal life...just the PR side that the Eagles, media and the NFL want us to see.

We'll see if he can behave for the rest of his life. If he does, I'll be the first to praise him. However, I'm just not ready to celebrate and congratulate someone who did so much wrong while other players like Drew Brees and even lesser-noticed players like Lorenzo Alexander are genuinely good people doing great things in their community WITHOUT being forced by courts to do so, go generally unspoken about. Instead of fabricating some great "redemption story" about someone we want to be a role model but has been the polar opposite in every way, why don't we talk about and reward those who do what's right on their first try?

If I'm correct if he owes 19 mil then he did not go bankrupt because if he did he would not owe all that money.