Michael Vick’s new contract will benefit Falcons’ pockets

Michael Vick: Finally out of debt.

Michael Vick: He's finally out of debt.

Arthur Blank: He'll get back $7.5 million, maybe more.

Arthur Blank: He'll get $7.5 million, maybe more.

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

Follow me on Twitter @JeffSchultzAJC; friend me at Facebook.com/JeffSchultzAJC

251 comments Add your comment

ansel

August 31st, 2011
10:28 am

hsfootballcoach

August 31st, 2011
10:30 am

First! Good point, Jeff. Something good has come from Vick.

PUP FAN

August 31st, 2011
10:31 am

Not first…..don’t care.

Yea

August 31st, 2011
10:31 am

Emperor Palpatine

August 31st, 2011
10:31 am

Good….Good.

PMC

August 31st, 2011
10:31 am

about freaking time.

Marcus Vick

August 31st, 2011
10:32 am

I think Michael has worked hard to restore his credibility. He is my brother and I love him.

Falcon Hardy

August 31st, 2011
10:33 am

he’s still a bum

Rikus

August 31st, 2011
10:34 am

Wow, never heard of salary cap credits before. Would be sweet, although kind of late in the offseason to do very much with them!

Najeh Davenpoop

August 31st, 2011
10:35 am

No way Ledbetter actually reported that. His own blog filter would have blocked him from saying “Vick”.

Pat

August 31st, 2011
10:36 am

He finally did something good for the city that gave him everything.

NagoyaFalcon-Brave-Hawk-in-that-order

August 31st, 2011
10:37 am

Still hard to imagine that we didn’t get any picks out of that. We let the guy go, but with all that talent still should’ve gotten something in return, except for our own peace of mind. Glad he’s gone and doing well and hope he makes the Hall ‘o Fame one day cause he certainly made that Hall ‘o Shame. As much as I hate Vick, he was a Falcon, like MeAngelo and Me-on Deon, My Time. Love them all. But this is a team we got here. Ryan is King. Our Hope.

dmr

August 31st, 2011
10:37 am

Don’t use the term “Vick-haters”. Michael Vick disappointed the fans of Atlanta for sure. Many fans hated what he had done. Many people didn’t approve of Vick’s behavior. But before all that, Vick owned Atlanta. He was the superstar of all superstars to this City and people wanted nothing but his success.

Forward to today. I think the vast majority of people realize that everything has worked out for everyone for the most part. The Falcons have moved in a new direction with Smith, Dimitroff, and Ryan. Vick served his time and became a better man for it. Remember, he was literally just a kid when he was thrust into the limelight of Atlanta. Vick has grown up and is on the right path. The Eagles have heavily invested in Vick and helped him off the field in terms of guidance.

I think once Arthur Blank, to whom Vick owes a great deal, is made whole, the circle will be complete.

Benjamin [Atlanta, Ga]

August 31st, 2011
10:38 am

I love the guy now. Didn’t like him here and certainly didn’t like him when he did what he did, but he seems to have grown through the entire experience and has more than paid his debt to society.

Hope he plays well all six years and fully restores his legacy.

Fish Bisch

August 31st, 2011
10:40 am

DWall

August 31st, 2011
10:41 am

Vick has paid for his sins. Forgiveness is due. He is an amazing talent and I wish him the very best. Now he has to win a super bowl.

Reid Adair

August 31st, 2011
10:41 am

Any salary cap advantage will indeed by “slight,” at best. As a long-time Falcons fan, when the former #7 lied to Arthur Blank, the city of Atlanta and Falcons fans everywhere, then went to prison, I was no longer concerned with his actions. I honestly couldn’t care less who he plays for or how much money he’s making.

Remarkable

August 31st, 2011
10:42 am

Only $40 Million of that is guaranteed money. That only laves $20 million. Take the taxes away and unless he keeps playing he’s not really doing so well.

SirReal

August 31st, 2011
10:42 am

Let the man live. We all have a moment of redemption…..its not about the money. If he was such a slime ball…I dont think he’d have this type of karma come back. As soon as we stop judging each other so much and get a life, we’ll all be happy. Good for Vick and good for Blank b/c he treated Vick extremely well and deserves just recompense

HJones

August 31st, 2011
10:43 am

LAST I HOPE!

NagoyaFalcon-Brave-Hawk-in-that-order

August 31st, 2011
10:52 am

The really cool thing is that Vick will never ever be as great a Quarterback as Matt Ryan, no matter how you measure it. We ATL fans pinned our hopes and dreams on this guy, and how cool is it to have a QB that could be better than all of them. And if he had never had done wrong, we would have never known. Perhaps our guy would have been up North, or down South, or somewhere else. But no, he was brought to Falcon country, a land long tainted by mediocrity and talent-gone-wrong, now we got our precious jewel, Blank knows it and so does TD, that’s why they’re building around it and why Peter King says SuperBowl baby, something that was a pipe dream with the running man, the dog-killer-turned-pride-of-philly. Good luck to you boy. We got our joy.

PMC

August 31st, 2011
10:53 am

Why would anyone be disapointed he got this contract? Here’s a living example of a guy who screwed up his life, realized his mistake and now is obviously a different more determined person. Debtors are being repaid. That is awesome. Happy for him, that said, Week 2. I want him to throw 5 interceptions and lose by 60 pts.

PMC

August 31st, 2011
10:54 am

(mistake) I should have said, (horribly poor decisions) a mistake is obviously grabbing the wrong sock in the morning.

teamguy

August 31st, 2011
10:54 am

Reid Adair. .well said…and honestly, I don’t care what any athlete makes, or what they think about anything other than the sport or game they play. .I long for the good old days when reporters just reported on the games. Most of them have now become gossip columnists. Present company excepted, Jeff.

atlanta_lawyer

August 31st, 2011
10:54 am

Not so quick with the assessment this new contract will benefit the Falcons in terms of recouping actual cash on hand. I believe, earlier this year, the Falcons sold their claim in the bankruptcy court for an undisclosed amount to an investment firm. Generally, these investment firms pay a percentage of the debt to the debt holder in exchange for the right to collect the full debt. If that is correct, then the Falcons have already all the money to which they would have been entitled under the bankruptcy settlement. The actual money would be paid to the investment firm which bought the debt. So, as a Falcon fan, we can only hope there is some salary cap benefit derived in the future.

REAL

August 31st, 2011
10:55 am

HELP VICK AVOID THE RUSH… TO JUDGEMENT

PMC

August 31st, 2011
10:56 am

One of these days maybe we will be able to welcome him back like happened with Deion Sanders.

GT71

August 31st, 2011
10:56 am

Nope, not last.
Sorry.
Good for the Falcons. If it helps move them from that crumb-bum locale, so much the better.
They should accept NO public money and do it like capitalists everywhere do – with their own hard-earned money. Then they can thumb their noses at those neer-do-well politicians.

THE Dixie Redcoat Band

August 31st, 2011
10:57 am

Six years and $100 million…this is an insult, a slap in the face for vick.

tony

August 31st, 2011
10:58 am

Vick is a winner. Wish he was still a falcon. Good luck to the young man.

Shotyme

August 31st, 2011
10:58 am

Good for Vick, glad to see him doing well. I was a big fan of his when he was in Atlanta and I hated to see him go. But he aint here no more and he owes our team money, money that can help us sign players or whatever, so he needs to pay. Its about our Falcons and our quest for the Super Bowl, we are one player away. PAY UP VICK.

tmc

August 31st, 2011
11:03 am

it’s one good ripple in an ocean of wrongs forced upon the Falcons by Michael Vick. I’m happy for Aurthur Blank if he receives something positive from MV. He didn’t deserve any of the bad affects MV caused him.

PMC

August 31st, 2011
11:04 am

Just wish he was around Mike Smith rather than perhaps the worst coach in this franchises history in Jim Mora Jr.

That JMJ is employed at all now is shocking.

waynester

August 31st, 2011
11:09 am

I still can’t understand Falcon “fans” on here hoping that Vick wins the SB. Philly and their obnoxious fans could lose every game from here to forever and I’d just have to endure the schadenfreude of delighting in their downfall. The only NFC team I want to see in the SB wears red and black. The only reason I even read this article was to learn how it might benefit the Falcons. FORGET Vick……

Najeh Davenpoop

August 31st, 2011
11:10 am

“Just wish he was around Mike Smith rather than perhaps the worst coach in this franchises history in Jim Mora Jr. ”

Exactly.

Najeh Davenpoop

August 31st, 2011
11:12 am

“The really cool thing is that Vick will never ever be as great a Quarterback as Matt Ryan, no matter how you measure it.”

Thanks, I needed that laugh this morning.

I guess playoff wins isn’t one of the ways you measure it.

SC Ace

August 31st, 2011
11:13 am

Wouldn’t it be something if the Eagles and Falcons played in the NFC title game? Very realistic.

I don’t begrudge Vick at all. I’m glad he’s turned his life around and learned some things, even if he had to do it the hard way. He’s an exciting player and the game is better with him in it.

I’m glad the Falcons moved on and are in a better place now. Works out for all.

Dick Tracy

August 31st, 2011
11:13 am

Now that Vick has his $$$ back will he go back to his old ways………..Vick is not a winner except with the $$$…no World Championship rings?

Dr. Warren

August 31st, 2011
11:17 am

I don’t think Mularkey would have pulled out the best of Vick, either, Najeh. He seems to be a very good fit for Andy Reid’s offense and approach.

day old fries

August 31st, 2011
11:18 am

my thoughts exactly @waynester

JTH

August 31st, 2011
11:20 am

hard to figure out

August 31st, 2011
11:20 am

NagoyaFalcon-Brave-Hawk-in-that-order:

Excuse me what exactly has Matt Ryan won?

PMC

August 31st, 2011
11:25 am

indeed Waynester, Indeed.

BET

August 31st, 2011
11:25 am

Why are you still trying to piss on MV7, let it go…this is a none story. You folks in Atlanta are pitiful…that we you have never won anything. You have a QB that can’t win a playoff game…write about that…write about why the Falcons won’t ever get out of the first round of playoff with Matt no clutch Ryan. Let Mike have his day…he earned!!!

mountain_jim

August 31st, 2011
11:26 am

I question ProFootballTalk’s figures. Unless a later judicial decision changed this one, or unless other considerations other than the contested bonus apply:

http://www.usatoday.com/sports/football/nfl/falcons/2008-02-04-vick-bonuses_N.htm

This article indicates the ruling said the Falcons could only recover 3.75 million of the bonus, and that was the cap figure to be returned when he paid. Was there other salary and cap issues outstanding?

Falcon4Life

August 31st, 2011
11:30 am

omg all of you people who are still on this vick dog fighting suck it up, get a life and move on damn everyone deserves a second chance so get over it! he is human like us so suck it up!

BET

August 31st, 2011
11:32 am

Thank Jim…a man with facts on a AJC blog…you are unique montain Jim…why do you tolerate those pitiful sports writers down there…this ariticle was just pulled out of Jeff’s ass!!!

BRW

August 31st, 2011
11:37 am

“Excuse me what exactly has Matt Ryan won?” Try respect of the entire NFL…….

waynester

August 31st, 2011
11:38 am

“losing”BET
This city, franchise and fanbase were on the receiving end of the “golden showers” and many of us are still “pi$$ed” about it. The only thing that Vick “earned” from ATL was contempt for wasting our time and his talents…now his apologists have got me wasting my breath trying to explain how some of us feel about his willing and purposeful betrayal of everyone and everything associated with this franchise. Few ‘fans’ of other teams can understand neither the magnitude of the betrayal nor the depth of revulsion it engendered in some of us who are Falcon Fans first, not fans of any player who places himself above the TEAM….

PeaceDog

August 31st, 2011
11:39 am

Matt Ryan is gonna have plenty of playoff wins when its all said and done. Maybe even double digits, not just 2-3. What’s the over under on games that M. Vick completes this year? Looks like he has reverted to a run first QB again.