Vick Thinking About The Future
Michael Vick traded his red and black jersey in Atlanta for the black and white stripes of a prison uniform and still can’t seem to get away from the legal system. This past Monday, Vick’s new lawyers filed for Chapter 11 Bankruptcy protection in Newport News, VA, as he sat in a federal penitentiary on dog fighting charges. Vick reportedly still owes anywhere from $10-$50 million to a multitude of creditors. Paul Campsen and Dennis Lewandowski of Kaufman & Canoles, P.C., out of Norfolk, VA, represent him now.
Among the creditors that Vick owes are the Atlanta Falcons, for $3.75 million from his signing bonus. Vick owes approximately $13.2 million to seven other large creditors. He is being sued by his former agent and lawyer for not paying past legal bills. Vick owes $4.5 million to Richmond-based Joel Enterprises Inc., and $550,0000 owed to Radtke Sports Inc. for a breach of contract. Others on the list are a Canadian bank, and Wachovia bank for loans they gave Mike to open a restaurant and wine store in Atlanta.
Vick is serving a 23-month prison sentence at the U.S. Penitentiary in Leavenworth, Kansas. As everyone knows, he plead guilty to bankrolling a dog-fighting ring in his hometown of Norfolk, VA. After denying the charges for a while, Vick finally pleaded guilty to dog fighting charges. The Falcons then sued Mike in an attempt to recoup $20 million in bonuses that Vick earned from 2004 to 2007. A federal judge ruled that Vick is entitled to keep all but $3.75 million of the money paid to him for playing football through the 2014 season. That $3.75 is included in the Ch.11 Bankruptcy Protection he filed for.
Vick stated from prison that he “will seek to rebuild his life and career” upon the end of his prison time. Filing for protection is the first move in restoring his future and is another good tactic by Vick and his new advisors. After messing up BIG TIME by participating in the dog-fighting ring to begin with, he put himself in the “doghouse” even further when he denied the allegations. He then showed up positive for marijuana on a court drug test, further tarnishing the Vick name (his brother Marcus both had many legal run ins).
His first good decision came when he decided to start serving his sentence early, and apologized a couple times. Now, after losing millions and everything else, he is making another good decision. This time it is a financial decision, by protecting his future assets now and filing for protection. It’s about time Vick learns from his mistakes and starts thinking about the future.
On the topic of Mike Vick’s future, some people have compared his return to football after jail to Barry Bond’s returning to baseball after his steroid allegations. We can see how that is going for Barry now. With the MLB trade deadline nearing the end of month, Barry has yet to be picked up by any team. Others, including myself, think it will be easy for Vick to get back in the NFL. He is Michael Vick, can run like a running back, and throw the ball 70 yards while playing QB. I’m sure some NFL team would love to pick him up. Recently, he has made better decisions and after time I believe some of this will blow over. PETA will move on, and so will some NFL managers when Vick becomes a free agent.
I am not condoning his actions for the despicable crime he committed. I just believe that he is paying for it to the fullest now and will make a serious comeback. The Vick family is plagued by legal troubles; it is about time Mike learns from the many Vick family woes and begins to act with respect toward the judicial system. After losing all his sponsors, money, credit, credibility, and everything else you can think of, he should make amends and then make millions again.
I heard on ESPN a month back that Vick was playing all time quarterback for the prison football team. I bet Vick’s getting his act together in jail, mentally, and physically, lifting and preparing to make his return. Everyone deserves a second chance and when Vick gets his I believe he will be a sick NFL QB once again. With the help of a good WR, a decent defense and a chip on his shoulder, he has a decent shot at winning the Lombardi trophy.