Just when you think Michael Vick has got it all together, you find out stuff like this. The Philadelphia Eagles player is surviving on his last bit of millions he received after going bankrupt in 2008.
According to legal documents, Mike Vick made $31 million after he filed for bankruptcy. The 31 million is a culmination of all of Vick’s sources of income, including his Eagles contract and various endorsement deals. As fast as the money came, it was gone. The $31 million was spent like this: 10.9 million went to taxes, 2.7 million was paid to Michael Vick’s lawyers and accountants, 9.2 million was sent directly to his creditors to pay off debt. Whatever was left was meant for living expenses. Here’s the catch, Vick was supposed to pay child support out of the money he had budgeted for living expenses, which has left him with $1.5 million to his name.
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For any normal person, $1.5 million would be a Godsend. However, for an athlete who signed a deal for $100 million over six years, only having five percent of that is reason to panick. Michael Vick doesn’t have to panick too long. He will be receiving another $40 million from his football contract in the near future.
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