NFL

Michael Vick Files for Bankruptcy

Posted Jul 08, 2008 8:22AM By Michael David Smith (RSS feed)

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Michael Vick, the former Falcons quarterback who is serving a 23-month prison sentence, filed Chapter 11 papers yesterday in U.S. Bankruptcy Court, Bloomberg News Service is reporting.

In the papers, Vick said he has debts of $10 million to $50 million and assets of $10 million to $50 million. Vick's debts include $3.75 million to the Falcons for a pro rated portion of his signing bonus, $4.5 million to Joel Enterprises for breach of contract, and $2.5 million to Royal Bank of Canada for a real-estate loan.

Vick's lawyers said in the filing that they hope Vick "can, after the conclusion of the bankruptcy case, rebuild his life on a personal and spiritual level, resurrect his image as a public figure, and resolve matters with the NFL such that he can resume his career."

Previously on FanHouse:
Michael Vick Buys Place in Florida: Bankruptcy Coming Next?
Bank Sues Michael Vick for $2.3 Million

Tags: Michael+Vick, MichaelVick

Reader Comments (Page 1 of 12)

7-08-2008 @ 9:32AM

Financial Planner said...

Can't wait to see the comments on this one...

7-08-2008 @ 10:03AM

ray said...

Couldn/t happen to a nicer guy. Goodbye mr. vick

7-08-2008 @ 10:02AM

Mike Matusewicz said...

He and his brother have to be recognized for their efforts in throwing away their careers. While his highlight clips were amazing I was never a fan of his, however I would like to see him come back from this; both as a player and a person.

7-08-2008 @ 10:07AM

Dave said...

I can't wait for the comments either. . . Apparently dog fighting isn't the lucrative enterprise he was hoping for? Maybe some financial advisor could have, you know, maybe mentioned that prison and financial ruin might be side effects of running a pet torture/murdering business for gambling and entertainment purposes. Just a thought. . .

7-08-2008 @ 10:25AM

John said...

What a turd, take everything from him. He's worthless.

7-08-2008 @ 10:25AM

Shelbz said...

Oh and don't forget, he is only bankrupt because he is black. White America won't allow a black man to make millions in prison.

7-08-2008 @ 10:33AM

Ellen said...

That's what you get when you hurt man's best friend!

7-08-2008 @ 12:00PM

Ellen said...

I hope they put him in the dog-raping cages that were found on his property and see how he likes it.

7-08-2008 @ 11:01AM

trw said...

He's morally bankrupt!

7-08-2008 @ 10:40AM

DragonLady said...

Boo Hoo! May this be a lesson to all of the other creeps that murder innocent animals!

7-08-2008 @ 11:32AM

mariwdlnd said...

Where's George Foreman now? He is one of Vick's BIGGEST supporters?! Probably one reason Foreman is doing a stupid 'reality' show. To 'save' his 'true' public image!

7-08-2008 @ 11:49AM

skipm123 said...

I think the punishment was excessive. Forcing him to pay significant amounts of money to help animals instead of hurting them have put his money to good work.

7-08-2008 @ 12:42PM

Lstimmo said...

I wish some of you heartless, mindless, cold blooded jerks would be as compassionate to a fellow human as you are to a freaking dog(s). Furthermore, perhaps if you all would take the time to look in your own damn closet, you’d probable find enough skeleton to fill a damn graveyard. A good background investigation may uncover that you sick bastards may have had a history of sexual relationships with animals.

7-08-2008 @ 12:26PM

speech said...

Wow! A black man can hurt some dogs and get everything taken away from him. Whites can destroy the great Indian tribes of America and enslave and murder blacks/Jews and reward themselves in the process. Looks like lady justice is peeking out from her blindfold once again. I don't see Mr. Vick as a future threat to the canine influence any longer. He has learned his lesson humbly. He has admitted his wrongdoing and is trying to make up for it. How many of you have taken the time to donate a dollar to the children and the homeless? Not one of you I bet, but Mr Vick has on more than one occasion. Now you can sit back and pick on this man all you want, but you will not kill his spirit you dummies! You guys are petty and you really dont count in this world. Instead sitting here throwing stones at this man, get your ass off of the computer and donate 50 cents to the red cross or something...maybe then your life will mean something. LOL Better yet go read a book!!!!!

7-15-2008 @ 3:19PM

DCK said...

bull! you must be a family member. He deserves what he gave to animals that have no voice. I wonder what they would say if they could talk. He's screwed up and so are you! DCK

7-08-2008 @ 1:40PM

Ron Reed said...

Send him to the Dawg Pound in Cleveland, his worries will be over and so will he.

7-08-2008 @ 1:59PM

Not Impressed said...

I agree! you should be at least as compassionate towards a human as you would be towards an animal. Unless, of course, that human behaved in a manner below the worst animal imaginable. Lets see: he killed dogs for fun and profit. I know, you probably want to give hima job at the ASPCA. Get a grip. Scum is and always will be scum, no matter how hard you polish its image...

7-08-2008 @ 2:12PM

Pious Pirate said...

Though not through "on the playing field heroics", Michael Vick has etched his mark in history. He can now join Barry Bonds and O.J. Simpson as the "elite" professional sports players with an asterisk next to their names which indicates just how idioic their off-field exploits otherwise destroyed their once promising and influential careers. Now, with the mention of his name, the memories that will come back will be that of negativity and not of an enjoyable nature.