Quote:
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.
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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.
08-31-2011, 10:59 AM
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