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Michael Vick Faces $9 Million Debt Hole After Release

Michael Vick Faces $9 Million Debt Hole After Release

Published April 8, 2009

Ex-NFL superstar Michael Vick will have to re-work his plan to emerge from bankruptcy following his suspension from football and loss of millions in endorsements.

 Judge Frank J. Santoro says Vick's strategy is likely to leave a $9 million "hole" for the former Atlanta Falcon, on top of payments he'd still owe creditors. Following his convictions on both federal and Virginia felony charges connected with illegal dog-fighting, Vick has racked up over $20 million in debts. 

Santoro called Vick's plans to earn cash shaky after they were mentioned in a recent court appearance.

Among the reported possibilities were his participation in a documentary that he hopes will earn him about $600,000. Santoro suggested that Vick consider selling more of his assets, saying he'll give the prison parolee another chance to present the court with a new plan. Vick hopes to keep at least two of the houses he owns, which he'd maintain for himself and his mom in Virginia.
 

Written by BET.com News Staff

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