Mike Vick went bankrupt while in prison, and spent the better part of the last four years attempting to emerge from his financial troubles. According to an August story in the Virginian Pilot, Vick was very close to paying back all of his creditors.
The Falcons, Vick’s largest creditor, sought $20 million as repayment from Vick’s 2004 $37 million signing bonus, but a federal judge later reduced that to $3.5 million. The two sides negotiated a $6.5 million deal.
No other claims by creditors were altered significantly, Vick’s lawyers said.
His second-largest creditor was Joel Enterprises, the business run by his former agent, which was owed between $5.1 million and $5.5 million. Joel and Vick’s lawyers are still squabbling over that $400,000 difference.
Vick’s bankruptcy records show that he has paid about 75 percent of his debts. With this fall’s salary from the Eagles and his endorsement income, he should be able to close out his case within months, his attorneys said.
Presumably, Vick’s bankruptcy is over now, and with the creditors paid off, it’s time to have fun again. It’s his money, he earned it, he can spend it on whatever he wants, right? Vick did an interview with ‘Bold Ride‘ and talked about his new fleet of vehicles:
2013 Infiniti QX56 – 26″ KMC Wheels Window Tint Escort 9500ci Radar
2012 Cadillac Escalade EXT Matte Gray Edition – 26″ KMC Slides Matte Gray Wrap Black Out Lights Escort 9500ci Rosen DVD Headrest
2012 Jaguar XJ8 – 22″ Savini Wheels 9500ci Radar Rosen DVD Headrest Window Tint
2012 Lexus LX570 – 24″ Asanti Forged Wheels 9500Ci Radar Window Tint Rosen DVD Headrest
2012 Audi A8L – A8L 24″ Lexanis Window Tint 9500ci Radar Myron Davis DVD Headrest
Vick likes cars so much, he started a website – www.ShowMike.com – for the car enthusiast. You can see the vehicles of nearly a dozen NFL players on the site, including DeAngelo Hall, Jeremy Maclin and Trent Cole.