Where does Michael Vick's money go? Guy is in massive debt!

KingRevolver

Born Rambler
• Two-thirds of every dollar Vick earns goes to creditors and taxes.

• The rest of the money is strictly controlled. Think of it as an allowance.

• Vick can spend $4,250 per month on rent and utilities and $472 per month on a car. His mother, who was on Vick's payroll during his headier, pre-prison days, can receive $2,500 per month.

• Other obligations Vick owes include mortgages, child support, fees for his agent (who gets $800,000 through 2015) and for his tax lawyers (who will eventually receive a total of $2.6 million). The allowance does allow for Vick to pay $1,355 per month for private school for the two children he has with his fiancee, Kijafa Frink. (Munson calls it a "rare bit of extravagance.")

• His creditors stand to receive $12 million through 2015, provided Vick continues to receive a multi-million dollar salary.
 

Tuckman

Uh Poster
Re: Where does Michael Vick's money go? Guy is in massive debt!

He probably built up alot of debt when he has the huge contract out there, least he is paying it all back...
 

carolinakid

Banned
Re: Where does Michael Vick's money go? Guy is in massive debt!

i still say he has money hidden offshore etc.....ck
 

kirkmuller

EOG Senior Member
Re: Where does Michael Vick's money go? Guy is in massive debt!

How exactly do these athletes build up millions in debt? What for, exactly? Businesses?
 

KingRevolver

Born Rambler
Re: Where does Michael Vick's money go? Guy is in massive debt!

He probably built up alot of debt when he has the huge contract out there, least he is paying it all back...

Not so fast. Ballwonder is his new financial advisor.

Ziiiiiiiiiing!
 

diogee

Verly isnt going anywhere
Re: Where does Michael Vick's money go? Guy is in massive debt!

Pays back a lot more if he signs a deal worth more than 10mil per year as well.
 

KingRevolver

Born Rambler
Re: Where does Michael Vick's money go? Guy is in massive debt!

His mama still cashing it in, LOL $2,500 per month
 
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