Mike Vick is a highly compensated professional athlete but also one with many debts to settle due to his earlier legal troubles. According to TMZ, the Eagles quarterback has spent a whopping $30 million since filing for bankruptcy in 2008, which translates to 95% of his income over four years.
Since filing, Vick has made $31 million through his contract with Philadelphia as well as via endorsements and other business ventures. The breakdown of where his money has gone goes like this:
The math is pretty simple — Vick had to pay a total of $29.6 mil — of that, $10.9 went to taxes, $9.2 mil went to creditors, $2.7 went to lawyers and accountants, and the rest is for various things, including child support and living expenses.
This has left Vick with $1.5 million to live off of, a shockingly low amount given his vast total income. However, with his debt settlements coming to a close and the $40 million of guaranteed money from his Eagles contract totaling $100 mil, Vick will be just fine.
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OCNN Report Columnist – Brandyn Campbell @sports_muse