Report: Vick spent $29M in 4 years

Michael Vick signed a $100 million contract extension last year. (AP Photo)

Michael Vick signed a $100 million contract extension last year. (AP Photo)

Eagles quarterback Michael Vick has filed court documents that show he spent more than $29 million since filing for bankruptcy in 2008, TMZ is reporting.

During the four-year period, Vick had income of about $31 million from his Eagles salary, endorsements and business ventures, TMZ said, citing the documents.

Vick paid out a total of $29.6 million — $10.9 million in taxes, $9.2 million to creditors, $2.7 million to lawyers and accountants and $6.8 million in child support and living expenses, according to the documents.

The former Atlanta Falcon still has $1.5 million left, TMZ reported, and that’s not counting a new contract he signed with the Eagles last year that is worth a reported $100 million, $40 million of which is guaranteed.

Vick’s financial troubles stem from his dogfighting conviction and 18 months he spent in federal prison from 2007-2009. He signed with the Eagles in 2009.

60 comments Add your comment

Martavious

October 2nd, 2012
7:28 am

It pays to be baby Momma

Nacos

October 2nd, 2012
9:11 am

holy $hit! how many babies he have

Phillyfantilddup

October 2nd, 2012
9:34 am

Enter your comments here

bwell

October 2nd, 2012
11:01 am

He should be ashamed of himself. But when you make money like that I guess he says kiss his A**. I would like to see him invest more and turn that into a profit. Paying out millions to baby mommas no way. Rap it up man. Later in life he will need that money. Stupid

Time

October 2nd, 2012
11:25 am

10.9 million in taxes??? That’s more of a waste of money than sending it to the baby momma’s..lol

Tom

October 2nd, 2012
11:34 am

10.9 million in taxes. This is what you get from your lawyers and accountants for 2.7 million? He needs to talk to Romney.

Mike Lewis

October 2nd, 2012
11:36 am

As he has made poor decisions in ATlanta playing football and now in Philly, he makes the same stupid mistakes in life…he evens has a second chance and only time will tell if he “mans up” to life itself, the real game. Needs some strong “spiritual” guidance from a local church to get his priorities straight…we’re all sinners….but you got to man up.

Reverend

October 2nd, 2012
11:55 am

Its amazing how we sit back and judge someone else…Nevermind the stupid mistakes we have made in our past. Leave this man alone…this story has nothing to do with anything other than a city that wants to continue to smear his name. You have no clue nor is it your business what he does with his money. At least he paid taxes, cant say that about Mitt Romney!

moorman

October 2nd, 2012
12:14 pm

ANY of you WISH you could be in the position above…………..get real………..lol

RBM

October 2nd, 2012
12:19 pm

Dumbass of the year award goes to this jerk

haha

October 2nd, 2012
12:23 pm

ok people before you start trippin, he paid his taxes and creditors.

I hope all of you pay uncle sam and your credit card bills and anyone else you owe money before you start chirping.

Unless you have made millions and lived the life of the rich and famous you may not be able to relate to this.

ha ha ha ha ha ha ha ha :)

Anything for hits and money by the AJC.

ha ha ha ha ha ha ha.

Really..?

October 2nd, 2012
12:31 pm

Get real…and stop getting personal with this junk! Please…report the SPORTS NEWS! Leave this poor guy alone AJC!

Really..?

October 2nd, 2012
12:33 pm

How bout writing some real stories JOEL PROVANO….What if someone reported where you spent all your money?

The Sham

October 2nd, 2012
12:41 pm

@Reverend: I tend to agree with your first statement and I applaud your non-judgemental tone, but then you wasted it and your credibility by getting political… SMH

Coop

October 2nd, 2012
12:45 pm

When I saw the headline I thought this was going to be a story of another athlete spending all his money on frivolous stuff. But Vick is paying his taxes, his lawyers and accountants, his creditors and his child support (GLAD to see that) and he still has 1.5 mil in the bank. Sounds like he’s doing what he’s supposed to be doing. Good for him.

The Sham

October 2nd, 2012
12:50 pm

@ Really..? : Kudos! Seriously, this dude paid his child support, creditors, taxes and other bills. I know the guy doesn’t deserve the Nobel Peace prize for this, but why is this article asserting something negative here? AND YES JOEL PROVANO YOU ARE ASSERTING SOMETHING NEGATIVE ABOUT THIS BY VIRTUE OF THE TITLE.

5150 UOAD`

October 2nd, 2012
1:01 pm

He HAS NOT PAID ALL HIS CREDITORS OFF……He is paying them but he has not paid them off. He is still on a PAYMENT PLAN and is on an Allowance.

KOOL

October 2nd, 2012
1:07 pm

I agree with you Coop. I’m no fan of Vick, however, I see no evidence in the above article that Vick is spending his money frivolously.

Paddy

October 2nd, 2012
1:07 pm

Vick paid all these bills because the court has ordered him to do so, this was not left up to him to decide. So no Kudos there!
Reverend….you were going along great in your post then lost credibility, too bad.
Mike Lewis, you may want to re-think that church thing. A top flight money manager is what he really needs now. The church will have alot easier time working w/ MV if he has some cash in the bank.

bjohnDawg

October 2nd, 2012
1:21 pm

6.8 million in child support and living expenses in 4years? 1.7 million a year?I see a Leon Spinx story coming on.
Vick broke and a greeter at Casino in Vegas.

MariettaMike

October 2nd, 2012
1:31 pm

In 4 to 6 years when his NFL career is over he may be broke again. Michael Vick is a great athlete, but he is just one of a long list of athletes that have wasted their money. I hope that $40 million ($27 million after taxes) will last with his expensive lifestyle. Sadly with big time athletes, it never does.

JB

October 2nd, 2012
1:32 pm

Or another words….A train wreck. Can’t believe all these pro Athletes that make 50 to 100 million in a short 10-12 year career and end up dead broke…….. You would think they would put up say 5 million bucks in some type of annuity and have an income for life……And in the real world, he’s about $12 an hour on a landscape crew as for qualifications…….Geez.

5150 UOAD`

October 2nd, 2012
1:35 pm

Maybe he should have gone PRO as a Drug Runner. He is Fast and Elusive to use his skills and NEVER would have been so Rich to Be so Stupid.

Leon Spinks

October 2nd, 2012
1:42 pm

bjohndawg, Dude you spelled my name wrong!

Eisendawg

October 2nd, 2012
1:42 pm

Give him a couple of years and he can replace Andre Rison on “Broke”

billyBobjacket

October 2nd, 2012
2:00 pm

Now THAT GUY is the “1%” that you guys should be after, burning through that kind of money without producing anything meaningful. The only “jobs” he produces are evidently in the baby momma business. Same goes for the Alec Baldwins, Madonnas, and Sean Penns of the world. They get paid millions for essentially nothing but entertainment (and much of that is not even that good), yet it is the guy running the small business trying to keep six people employed that you guys are going after with taxes and Obamacare mandates that will drive him out of business and put those six workers out on the street. The multimillionaires and billionaires don’t care cause they have money to burn, but you guys want to go after everybody making over $250000 a year. If that guy pays each of his workers $40k in salary and benefits, that leaves him $10000 for all his other business expenses and his own income…really sounds like he is a rich fat cat, need to take more of his money.

Rev. Al Sharpton

October 2nd, 2012
2:14 pm

Vote Romney!

rollo lawson

October 2nd, 2012
2:21 pm

We have some ignorant people replying here. Out of $29 million, he spent roughly $23 million paying bills and taxes, while living off of a 1/4 of his actual earnings and still having $1.5 in the bank. Not counting a $40 million signing bonus from a $100 million contract. Sounds like a bunch of ignorant haters to me.

Paddy

October 2nd, 2012
2:23 pm

1.7 mil a year in child support and expenses, WOW!..Is he supporting an orphanage run by The Sisters of the Sick & Poor?

JB

October 2nd, 2012
2:27 pm

Yep, he’s a Democrat. All the traits…

JSS

October 2nd, 2012
2:28 pm

That is only $850,000 dollars divided by the two children… By the way, since they’ve married now, they can ask the trustee to revisit the payments after a year of marriage if they please…

Ron

October 2nd, 2012
2:39 pm

What a t hug!!! He is and most other black athletes. Cracks me up seeing them buy 10 houses, 15 cards, guns, and as much gold as possible. Then, a few years later, they have no money left and they wonder why.

Ron

October 2nd, 2012
2:39 pm

Larry J

October 2nd, 2012
3:21 pm

I’ll start caring about Michael Vick’s issues when he starts paying me. Until then, I couldn’t care less about his problems as I have issues of my own…and so do the rest of you. MIND YOUR OWN BUSINESS.

Bryan

October 2nd, 2012
3:22 pm

shame how you show your racist and bigotist mindset in a sports post @RON…da heck are you talking about? where did it say he bought houses, cars and guns or maybe that’s where your jealous mind is? it is sad that sooooo many people reply to stories like this and show their true color while hiding behind screen names. try reading it’s fundamental. I’d hardly say he voluntarily “spent” this money. This is called taking care of your responsibilities, and GOD gave him the talent to be in this position #hatersneverdie!

decatur joe

October 2nd, 2012
3:36 pm

You all can say what you want about him. I bet 95% of you would give your left arm to be in his position. He’s still a millionaire!

Najeh Davenpoop

October 2nd, 2012
4:04 pm

Most of that spending was ordered by the court as part of the terms of his release. Ain’t misleading headlines great?

Supersize that order, mutt

October 2nd, 2012
4:08 pm

He is a loser and so is his family

Curious George

October 2nd, 2012
4:25 pm

How long will it be before Mr. Vick is ‘ax-ing’ me what I will have at THE VARSITY, assuming that fine restaurant’s policy of not hiring convicted felons is still in place?

PMC

October 2nd, 2012
4:30 pm

What part of this is negative?

He paid 11 million dollars in freaking taxes, is paying his creditors and taking care of his children.

Curious George

October 2nd, 2012
4:30 pm

Since it has already been revealed the Mike Vick will NOT be voting to re-elect President 0bama in 2012, shouldn’t we all honor Mr. Vick and follow the example he has set for us?

PMC

October 2nd, 2012
4:31 pm

What is to be ashamed of here? He’s doing exactly what he’s supposed to and has managed to save apparently 1.5 million. Good for him. Good luck Mike, I hope it goes well for you when you aren’t playing the Falcons.

Curious George

October 2nd, 2012
4:38 pm

If Mike Vick were any less intelligent and less educated, would people start wondering how he liked being a “student” at that University over at Athens?

BradATL

October 2nd, 2012
4:40 pm

Very misleading headline. As best as I can tell, the guy has been a model citizen and very fiscally responsible since getting out of prison. Give the guy a break.

Dennis

October 2nd, 2012
4:51 pm

I agree with BradATL, he’s done his time and he’s been above board since. I would say he probably needs to get a better tax accountant/CPA; 37% overall rate based on the numbers mentioned is a bit high, although it is salary and not capital gains. He could defer some of that income or do some other things to reduce his taxable liabilities. I think he’s a changed man and we need to let him go about his business.

Bubba

October 2nd, 2012
5:21 pm

yo rev,obama not be paid no taxes cuss.shiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiit

JRHD

October 2nd, 2012
5:31 pm

A salary of $31mm and out of that he pays taxes, child support and court ordered payments of $29.6mm, including legal and PC fees of $2.7mm. This leaves him with $1.5mm in the bank (savings). That is a savings rate of 4.8%. Man, if the US gov’t could take care of their business like this AND end up with that much money left over at the end of their fiscal year think of how much better off we would all be!!!!!!!!!!!!!!! There is a large faction of people who will hate Vick no matter what he does with this second chance he has been given. He could save a child from a burning building and someone would claim they saw him with a match. As the saying on the street goes, “Haters gonna hate.”

farmer

October 2nd, 2012
5:44 pm

he will always be a good for nothing piece of s#^t who kille dogs for fun.. i hate the sight of him.. hopefully one game someone will break his neck and put his sorry ass in a damn wheelchair. that would be awesome

BRW

October 2nd, 2012
8:34 pm

Nothing negative in the headline Vick apoligizers. Just the facts.

longduckdawg

October 2nd, 2012
10:12 pm

you can take the bunny out of the jungle but you can’t take the jungle out of the bunny.