Michael Vicks Millions, Easy Come, Easy Go
Michael Vick, the quarterback for the Philadelphia Eagles, has a cash problem. The bankruptcy court will only let him keep $300,000 of the money he earns annually until he repays over $23 million that he owes to various creditors, according to a new report from Yahoo Sports.
“Vick has blown through nearly $30 million since filing for bankruptcy in 2008 – nearly 95 percent of his total income,” writes TMZ.com, citing “legal docs filed in his bankruptcy case.”
This former quarterback for the Atlanta Falcons was once the highest paid player in the NFL with a contract valued at $130 million.
Did Vick need more to live his lavish lifestyle?
Since 2008 Vick reportedly earned $31 million and spent $29.6 million on taxes, lawyers, creditors, accountants, living expenses and child support.
Easy come, easy go.
As the Post points out, Vick shouldn’t worry though. He now has a new $100 million contract with the Eagles and is guaranteed $40 million. At that rate, he is expected to finish paying his creditors in 2014.