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Vick's money losses

this is a discussion within the NFL Community Forum; http://www.ajc.com/sports/content/sp...oney_1211.html The Atlanta Journal-Constitution Published on: 12/10/07 A look at the staggering financial losses — totaling an estimated $142 million — incurred by Falcons quarterback Michael Vick: $71 million: Salary in the final seven seasons of his Falcons contract, which ...

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Old 12-12-2007, 10:38 AM   #1
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Vick's money losses

http://www.ajc.com/sports/content/sp...oney_1211.html

The Atlanta Journal-Constitution

Published on: 12/10/07

A look at the staggering financial losses — totaling an estimated $142 million — incurred by Falcons quarterback Michael Vick:

$71 million: Salary in the final seven seasons of his Falcons contract, which the team is expected to terminate when salary-cap ramifications are resolved.

$50 million: Endorsement income lost over the next decade, according to an estimate by the University of Oregon's Warsaw Sports Marketing Center.

$19.97 million: Previously paid bonuses that an arbitrator has ruled the Falcons can recoup from Vick (a ruling currently being reviewed by U. S. District Judge David Doty in Minneapolis).

$928,073: Funds Vick put into an escrow account, as part of his plea agreement, to fund the care of about 54 pit bulls found on his property.

Total: $141,898,073

Note: Vick has been sued by three banks for alleged defaults on a total of $5.8 million in loans.


— Compiled by Tim Tucker


Ouch.

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All little common sense goes a long way.
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