It has come to our attention that NFL star Michael Vick has spent nearly $30 million since filing for bankruptcy in 2008, which is nearly 95% of his total income. Ouch!
However, before you go on assuming and landing the pro baller with stereotypes, Mike did not spend all his money on popping bottles in the club, strippers, and lavish thing on the contrary the majority of it went to paying off past debts.
(via TMZ) According to legal docs obtained by TMZ filed in his bankruptcy case, Vick made $31 million since he went belly up that includes his Eagles salary and various endorsements and other business ventures.
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.
All tolled, Vick is now left with around $1.5 mil. That’s nothing to sneeze at, but considering what he made it’s pretty shocking.
Things are looking up for the NFLer. Vick signed a 6 year, $100 million contract in 2011 with almost $40 mil in guaranteed money, so he won’t be poor in rich terms for much longer.
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