So if I read this correctly, Michael Vick just helped Arthur Blank move $7.5 million closer to getting a new stadium.
Vick’s new reported six-year, $100 million contract with the Philadelphia Eagles means he should be able to clear all of the creditors listed in his original bankruptcy, which totaled about $20 million.
Not surprisingly, the biggest creditor was the Falcons. They are owed $7.5 million from his signing bonus after he defaulted on his contract. Something about dog fighting and prison. It’s all a blur now.
Our D. Orlando Ledbetter reported back in April of 2009 that Vick and the Falcons had reached a settlement on the salary cap refund, so that part of the story is not news. But this could be: Via ProFootballTalk.com, the Falcons will seek and could receive salary cap credits, which would come as Vick returns the money.
Greg Aiello, the NFL’s vice president of public relations, told Pro Football Talk via email “that such matters are reviewed on a case-by-case basis, and that the question of whether the Falcons will receive cap credits is currently under review,” according to the website.
Theoretically, getting salary cap credits could give the Falcons’ a competitive advantage over other teams, albeit slight. At the very least, Blank can stash the $7.5 million in his building fund.
So does this mean even Falcons’ fans and Vick haters can acknowledge something good has come out of his comeback?
By Jeff Schultz