Michael Vick Has Spent $29 of the $31 Million He’s Made In Last 4 Years
This is not a shocking or breaking story when you realize the particulars of the situation, still the number is shocking and hopefully can be a lesson for athletes reading this.
TMZ is reporting that Eagles quarterback Mike Vick revealed recently that he’s spent $29 million in the span of four years after filing for bankruptcy in 2008.
That equates out to nearly 95% of his income according to the website.
Legal documents from his case report that Vick has made $31 million since filing for bankruptcy.
He has had to spend $29 million of that already. $10.9 million went to uncle Sam, $9.2 million went to the creditors he owed, $2.7 million went to lawyers and accountants, and the rest to various other items including child support.
That has left Vick with about $1.5 million to himself for whatever he likes.
Vicks finances should be alright at this point considering he signed a 6 year $100 million extension at the beginning of last season, with $40 million of that guaranteed.
He is finished paying out to creditors, so with good money management skills, and keeping brother Marcus out his pocket, he should be fine.
All else fails, his wife Kijafa has a booming boutique here in Philadelphia the family can survive on.