Michael Vick thinks Michael Vick is still worth a huge contract

[MadJack]

Mon Mar 30, 2009 1:15 pm EDT
Michael Vick thinks Michael Vick is still worth a huge contract

By MJD

I don't know what kind of access Michael Vick has had to newspapers, magazines and the Internet in prison, but it seems like the news that he is no longer a hot commodity has not yet filtered down to Michael Vick.
In papers he submitted to a bankruptcy court, Vick indicated that he plans on making $10 million per season, which I'm pretty sure would be a record for an ex-con who had a career quarterback rating of 75.7 when he went away. From the Atlanta Journal Constitution:

The embattled Atlanta Falcons quarterback is hoping to earn as much as $10 million a year or more, according to court filings in his bankruptcy case. Under the plan he submitted to the court, Vick would keep the first $750,000 of his annual income over the next five years. After that, a percentage would go to his creditors based on a sliding scale. [...]
In a March 4 court filing, Vick?s attorneys say he ?has every reason to believe upon his release, he will be reinstated into the NFL, resume his career and be able to earn a substantial living.?
?He is hopeful to play quarterback,? Daniel Meachum, an attorney and business manager for Vick, said in an interview. ?There is no person with his talent in that position in all the league.?
​

That may have been true at one time, but there are also no quarterbacks in the league who have spent the last nine months sitting in a jail cell and eating prison food. I'm not a nutritionist or anything, but I'm pretty sure that's not what NFL team doctors would recommend for keeping a guy in optimum game shape.
The fact of the matter is that no one knows how Vick will perform when he gets out of the joint, though it seems extraordinarily unlikely that he'll look exactly the same as he did when he went in. Factor in the amount of teams scared off by the P.R. nightmare, and I think we're looking at a salary closer to $605,000, which was last year's veteran minimum for a seventh-year player.

 

[znine_7]

Only 605K a year......that's too bad...how will he ever feed his family?

 

[IX_Bender]

But $605,000 is less than the $750,000 he plans on keeping for himself. How will the creditors be paid?

 

[Mr. Poon]

someone will be stupid enough to put on a reality show featuring him and his efforts to get back playing in the NFL.

 

[znine_7]

:mj03: :00x32


If it's profitable....why not :shrug:

who has some producer friends?

 

[dickiesports]

You people are so NAIVE

You people are so NAIVE

The guy was in a fed pen surely he was able to take vitamins workout daily and train and eat well.

If Dallas paid PACMAN and um well way too many NFLers to list got paid millions VICK will get paid too.

You dont lose god given athletic talent in 1 yr.

 

[Old School]

his talents were not used..

unless hype and ticket sales are your #1 goal..

that worked out real well for Mr.Blank..

FLOWERY BRANCH, Ga. -- Michael Vick has agreed to pay the Atlanta Falcons at least $6.5 million as part of his bankruptcy case, moving closer to cutting ties with a team that doesn't want him back.
The settlement was reached ahead of Vick's bankruptcy hearing in Virginia on Thursday. The suspended quarterback arrived in his home state Monday afternoon and was being held at Western Tidewater Regional Jail in Suffolk, Va.

Michael Vick, QB
Atlanta Falcons

Career Statistics
Passer Rating: 75.7
Pass TDs/INTs: 71/52
Rushing TDs: 21

The Falcons are trying to trade Vick, who is still barred from the NFL as he serves out a nearly two-year sentence for operating a gruesome dogfighting ring. If no deal is reached, Atlanta likely will cut its former star before the start of training camp.
"We were able to resolve our claim in a way that was acceptable to Michael and acceptable to us," team president Rich McKay said. "It was just a good, old-fashioned negotiation."
The Falcons settled their claim that Vick owed them nearly $21.2 million for bonuses he received before his guilty plea to federal dogfighting charges.
After an arbitrator sided with the team, the players union took the case to federal court. A U.S. district judge reduced the amount to $3.75 million, and the case remains on appeal.
"To resolve uncertainty over the amount of the Falcons' claim, the parties have determined that the Falcons will receive an allowed general unsecured claim in the debtor's bankruptcy case in the amount of $7.5 million," said the court filing, which was entered last week. "If the district court's ruling is ultimately affirmed on appeal, the amount of the Falcons' claim will be reduced to $6.5 million."

Vick could no more lead a team to a SuperBowl Title as a QB in the NFL THAN 60% of those at the postion currently..

It was plain to see at Va.Tech. and was even more evident in his tenure at Atlanta.

 

[JOSHNAUDI]

Y'all are all herpephobes. Leave Ron Mexico alone, ok.

 

[THE KOD]

Vick?s plan: Construction job, then NFL by Sept.
Imprisoned QB?s representatives map out plans in bankruptcy court
By JEREMY REDMON

The Atlanta Journal-Constitution

Thursday, April 02, 2009

Newport News, Va. ? Michael Vick will work a $10 an hour construction job once he is released on home confinement, his lawyer said at a bankruptcy hearing for the imprisoned Falcons quarterback Thursday.

Vick?s agent, Joel Segal, also testified at the hearing that he hopes Vick is back in the NFL by September.

Vick's plan: Construction job, then NFL by Sept.
Falcons settle claim in Vick bankruptcy case
Interactive | Vick Timeline
Michael Vick is banking on return to NFL
Vick will testify at the hearing Friday. The hearing has ended for the day.

As Vick, currently serving a 23-month prison sentence for felony charges related to dogfighting, quietly watched in court this morning, his team of bankruptcy attorneys made substantial progress in settling objections filed by key creditors.

Michael Blumenthal, Vick?s lead attorney today, outlined proposed settlements with the Internal Revenue Service and the Virginia Department of Taxation. The two taxing agencies, which filed objections to Vick?s plan to emerge from bankruptcy, have said Vick owes $696,930 combined in back federal and state taxes, penalties and interest.

He has already been offered a job to work at a local construction company for an hourly wage 40 hours a week once he leaves prison, Blumenthal said.

?He is going to turn a new leaf,? Blumenthal said. ?He has learned from what occurred in his life.?

According to the Associated Press, Vick plans to work for $10 an hour at one of W.M. Jordan Co.?s 40 commercial construction jobs, said John Robert Lawson. His father, Robert Lawson, helped start the Newport News company.

Lawson, 57, said that he has known Vick for more than 10 years and that they have been involved in charitable work together. He said Vick?s representatives approached him when he was turned away by other employers.

?I believe all of us make mistakes, and once you?ve fulfilled your commitment and paid the price, you should be given a second chance,? Lawson said in a telephone interview with the AP.

?He?s not a bad person. He made some bad choices,? Lawson said.

Blumenthal also highlighted a proposed agreement with the U.S. Labor Department, which has accused Vick of illegally spending about $1.3 million in pension plan funds for his own benefit, including paying his bankruptcy attorney and restitution ordered as part of his conviction on federal dogfighting charges.

Vick?s attorneys said they are also working with the regional office of the U.S. trustee to settle its objections to Vick?s plan.

But one of Vick?s biggest hurdles remains ? an objection from Joel Enterprises, which says Vick owes about $4.5 million. Andrew Joel, a Richmond sports agent, filed a lawsuit against Vick in 2006 claiming he reneged on an endorsement deal.

The company filed another complaint last month, alleging Vick transferred property and cash to relatives and friends in the year before he filed for bankruptcy to defraud his creditors. The complaint also alleges that Vick misrepresented his assets.

Blumenthal said the overall bankruptcy case has been difficult to resolve, especially because Vick is serving a 23-month federal prison sentence for his role in the dogfighting conspiracy.

?I have to admit this is probably the hardest case I have had in my career,? Blumenthal said.

Federal authorities transported Vick to the courtroom from his prison in Leavenworth, Kan., last week. He is expected to return to Leavenworth after his bankruptcy trial ends tomorrow. The suspended NFL star, however, is due to be released to home confinement at his house in Hampton, Va., on May 21.

Vick was led into the courtroom this morning just before 10 a.m. He wore a gray suit and has slight sideburns and a goatee. He turned around several times from the table where he sat beside his attorneys, smiling and waiving at his mother, Brenda Boddie, and fianc?e, Kijafa Frink. Boddie responded by smiling and quietly saying, ?My baby.?

Meanwhile, attorneys for Joel Enterprises are planning to call Boddie and Frink as witnesses tomorrow. Those attorneys wheeled 11 boxes of documents into the courtroom this morning as dozens of journalists and more than 10 Newport News police officers looked on.
..............................................................

Construction job until September

He has to have a job to get out of detention ?

Something tells me Vick will not be the best helper in a construction position.

 

[Julene]

I don't know how this works, but why would he be able to keep $750,000?

 

[znine_7]

someone will be stupid enough to put on a reality show featuring him and his efforts to get back playing in the NFL.

Props to Mr. Poon for the great call. Too bad we were too slow to capitalize on it though...shux

Apparently, Vick plans on receiving earnings of 600k for a documentary of him....

http://sports.espn.go.com/nfl/news/story?id=4038660

"Vick's agent, Joel Segal, said on the stand Thursday that he would try to negotiate a short-term contract filled with incentives for playing time and starts that could bring in millions. He also said Vick has agreed to plans for a television documentary that will pay him $600,000."

 

[Agent 0659]

I hope a brick falls on his fawking head.

 

[THE KOD]

Vick testifies his acts were ?heinous? and ?immature?
By JEREMY REDMON

The Atlanta Journal-Constitution

Friday, April 03, 2009

Newport News, Va. ? Suspended Falcons quarterback Michael Vick testified in bankruptcy court Friday morning that financial advisers gave him bad guidance, inexplicably bought $90 million in life insurance for him and his mother and invested his money without giving him any returns on it.

Vick, 28, took the stand in a hearing on his bankruptcy exit plan. Under questioning by his own attorneys, he began by saying his incarceration on dogfighting charges has given him time to think about mistakes that led to financial ruin and derailed his football career.

Michael Vick is banking on return to NFL
?I committed a heinous act,? said Vick, who was moved from a Kansas prison to appear at the hearing. ?It was very irresponsible. I didn?t do all the right things as that point in my life. What I did was wrong. When you know better, you are supposed to do better.?

He told the court: ?I can?t live like the old Mike Vick. I was very immature. I did a lot of things I wasn?t supposed to do being a role model.? Vick said he has spent his time in prison reading, writing and working as janitor for 12 cents an hour.

Discussing his past financial affairs, Vick said he put too much trust in advisers.

He said one of the advisers bought $70 million in life insurance for him and $20 million for his mother, explaining that Vick was ?around too many thugs ? and was engaged in unlawful activities.? Vick said he had to pay $1.2 million annually on the insurance premiums.:scared :scared

Another adviser took $500,000 of Vick?s money, saying she would invest it in a bank in Nebraska and give him 10 percent interest in return. He said that adviser spent the money and he has not received any back.:SIB

?I was trusting these people,? Vick said.

Vick, who earned $10 million to $12 million annually before being sentenced to 23 months on the dogfighting charges, also testified how he has financially supported a large family and friends.

?I put a lot of strain on myself. It was a big burden,? Vick said. ?I don?t know why, but I feel I was obligated to do that, coming from where I came from.?

Vick?s attorneys hope his contrition and the discussion of his finances will help them gain a judge?s approval of his plan to emerge from bankruptcy. Under the plan, Vick would keep the first $750,000 of his annual income over the next five years. After that, a percentage would go to his creditors based on a sliding scale.

The suspended star was expected to be questioned later Friday by attorneys for a major creditor, Joel Enterprises, that objects to the plan. Joel Enterprises? lawyers also plan to call Vick?s mother, Brenda Boddie, and fiancée, Kijafa Frink, as witnesses Friday.

On Thursday, Vick?s attorneys said he has agreed to star in a documentary for $600,000 once he gets out of prison. They said he has also lined up a $10-an-hour job as a construction worker when he is released to home confinement in a house he owns in Hampton, Va.

But Vick?s agent also said his client?s contrition could help him be reinstated by the NFL as soon as September, in time for the 2009 season. He said Vick hopes to earn as much as $10 million a year or more, according to court filings in his bankruptcy case.

In a 2007 plea deal, Vick admitted bankrolling a business called Bad Newz Kennels to raise and train pit bulls for dogfights on his property in Virginia and in other states. He said he provided most of the money to operate the business and bet on the fights. He admitted being involved in killing several pit bulls that did not make the grade as fighters.

Joel Enterprises says Vick owes about $4.5 million. Andrew Joel, a Richmond sports agent, filed a lawsuit against Vick in 2006 claiming he reneged on an endorsement deal.

In a complaint last month, Joel Enterprises alleges Vick transferred property and cash to relatives and friends in the year before he filed for bankruptcy to defraud his creditors. The complaint also alleges that Vick misrepresented his assets.

Vick?s attorneys say they have made progress toward settling objections from other creditors. They include the Internal Revenue Service and Virginia Department of Taxation, which claim Vick owes $696,930 combined in back federal and state taxes, penalties and interest.

Another deal is with the U.S. Labor Department, which has accused Vick of illegally spending about $1.3 million in pension plan funds from his marketing company for his own benefit.

As of December, Vick had $16 million in assets and $20.4 million in debts, court records show.

Vick is expected to return to prison in Kansas after the bankruptcy hearing ends Friday
............................................................

he was around too many thugs

1.2 million for life insurance :142smilie

 

[AR182]

I hope a brick falls on his fawking head.

eventhough vick has paid his debt to society (by our standards)...i defintely agree with you......

 

[THE KOD]

Judge rejects Vick?s bankruptcy plan
Jailed QB will have ?one more chance to come up with workable plan?
By JEREMY REDMON

The Atlanta Journal-Constitution

Friday, April 03, 2009

Newport News, Va. ? A federal judge has rejected former Falcons quarterback Michael Vick?s plan to emerge from bankruptcy but is giving him another chance to come up with a plan. Judge Frank Santoro has ordered an April 28 hearing on the status of Vick?s new plan.

Meanwhile, Vick?s attorneys are asking the judge to order Vick?s appearance at that hearing. The judge has not made a decision about that matter.

Do you think Michael Vick will play another 10-12 years in the NFL?

--------------------------------------------------------------------------------

Yes 39.01% 761
No 60.99% 1190

Vick?s attorneys also sought to keep Vick in a local jail until the April 28 hearing, but the judge indicated he didn?t have that authority. His attorneys said they were handicapped in working on the plan while Vick was in prison.

?I?m going to give you one more chance to come up with a workable reorganization plan, but that is your last chance,? Santoro said. ?I think it would be important for you to make the most of it.?

Santoro said he rejected Vick?s plan in part because he calculated it would create a $6 million to $9 million hole for Vick after he paid his creditors.

And he suggested that Vick sell off some of the real estate and cars he planned to retain.:nono:

The attorneys? request to keep Vick nearby, rather than return him to a federal prison after Friday?s hearing, came after Santoro repeatedly questioned them about the feasibility of Vick?s proposed bankruptcy exit plan.

Vick is nearing the end of a 23-month prison sentence at Leavenworth, Kansas, on dogfighting conspiracy charges. He was moved to the Western Tidewater Regional Jail in Suffolk, Va., for the bankruptcy court hearing on his plan to pay off creditors.

Earlier Friday, Vick took the stand and testified that he believes he has a shot at being reinstated by the NFL because he is remorseful for the actions that landed him in prison.

Vick predicted he has another 10 to 12 years left in his football career, assuming he stays in shape and avoids injuries.:SIB :SIB

Returning to the NFL is a key part of Vick?s plans to pay his creditors and emerge from bankruptcy. Under the proposed bankruptcy exit plan, Vick could keep the first $750,000 of his annual income over the next five years. After that, a percentage would go to creditors.

?If I do the right thing and show true remorse, I think I will have an opportunity? to rejoin the NFL, Vick told the court. NFL Commissioner Roger Goodell has said he wants to see true contrition from Vick before considering lifting his suspension.

Vick also told the court that prison has given him time to reflect on his life.

?I committed a heinous act,? he said. ?It was very irresponsible. I didn?t do all the right things at that point in my life. What I did was wrong. When you know better, you are supposed to do better.?

As part of a 2007 plea deal, Vick admitted bankrolling a business called Bad Newz Kennels to raise and train pit bulls for dogfights on his property in Virginia and in other states. He said he provided most of the money to operate the business and bet on fights. He admitted to being involved in killing several pit bulls that did not make the grade as fighters.

?There wasn?t a day that went by that I didn?t value my freedom and think about the crimes I committed,? Vick said about his prison life.

Vick, who earned between $10 million and $12 million annually before he entered prison, said he is being paid 12 cents an hour now working as a janitor in prison. He said he works an 11 p.m. to 3 a.m. shift.

The former Virginia Tech standout added that he has been staying in shape, reading, writing and playing basketball on a championship prison team.

Vick, now 28, said he wants to build a new life once he gets out of prison.

?I can?t live life like the old Mike Vick,? he said. ?I was very immature. I was na?ve to a lot of things.?

Discussing his financial woes, Vick testified that a series of financial advisers gave him bad guidance, inexplicably bought $90 million in life insurance for him and his mother and invested his money without giving him any returns on it.

Vick said one of the advisers bought $70 million in life insurance for him and $20 million for his mother, explaining that Vick was ?around too many thugs ? and was engaged in unlawful activities.? Vick said he had to pay $1.2 million annually on the insurance premiums.

Another adviser took $500,000 of Vick?s money, saying she would invest it in a bank in Nebraska and give him 10 percent interest in return. He said that adviser spent the money and he has not received any back.

?I was trusting these people,? Vick said.

Vick said he has hired attorneys and an accountant to help him manage his money better once he gets out of prison. Santoro asked him if he realized he had racked up about $3.7 million in bills for professional services during his bankruptcy case, or about $13,700 a day for the last 270 days. Vick said he is aware of the costs.

The bankruptcy exit plan faces opposition from some creditors including Joel Enterprises, which claims Vick owes it about $4.5 million. The firm?s attorney also questioned Vick Friday before the lunch break, raising doubts about the suspended quaterback?s credibility and past money management.

Vick?s attorneys said they are close to settlement deals with other ceditors that have objected to the plan, including the Internal Revenue Service.
.................................................................

that had to leave a mark


avoids injurys.

Vick was one of the most hamstring injured not wanna play QB in the NFL

He also used his prima donna antics to stay out of as many pre season games as he could.

When things did not go well in a game , Vick would sometimes take a fall so to speak.

Never will forget the time him and Jim Mora skipped riding on the bus with the other players so they could ride in a lamborghini to the event.

attitude in locker room suspect.

Yeh I think Vick is worth 10 million a year.

maybe in Europe