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


Latest in news

Inauguration Day

January 20, 2021