The Virginian-Pilot
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If he made it back to pro football, Michael Vick would be willing to hand over between one-fifth and one-third of his income to help settle his debts.
The offer is part of a proposed reorganization plan that Vick and his lawyers submitted this week in his bankruptcy case. The Newport News native is trying to repair his finances while he serves a 23-month federal prison sentence for dogfighting and gambling conspiracy.
On Friday, Vick's lawyers asked U.S. Bankruptcy Judge Frank Santoro to appoint a mediator to help resolve the case, according to an official court summary of the hearing.
Santoro will rule on the request after the creditors can discuss it.
Vick was among the most highly paid athletes in the world when he played quarterback for the Atlanta Falcons. He filed for Chapter 11 bankruptcy protection in July. Last month he listed his total assets at $16.1 million and his liabilities at $20.4 million.
In his proposed reorganization plan submitted Thursday, Vick would retain the first $750,000 of his adjusted gross income from the years 2010 to 2015.
Beyond that he would give an increasingly higher percentage of his income over to his creditors. For example, he would give up 33 percent of any income that surpassed $10 million in a year. Signing bonuses would also apply to the equation.
The plan also proposes to liquidate three of Vick's properties for creditors, but not his $1.5 million house in northern Suffolk.
Vick's projected release date is July 20, according to the Federal Bureau of Prisons' Web site.
Dave Forster, (757) 222-5563, dave.forster@pilotonline.com
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VICK
You people really need to get a life. Those saying he will never play pro football again, need to do their research. He is already guaranteed a hefty starting salary to play for the new "UFL" as the franchise league's marqee player.
His lawyers are already any negotiations with the commissioner of the NFL to be re-instated, although he does not need the NFL - the NFL needs him as he raised millions alone with the revenue from jerseys and shoes. So if you think the NFL is going to let that money walk away to the UFL - you people are totally delusional.
The bottom line is, you people are not mad at what he did, you are mad because he is an African American man that is super wealthy and will continue to be. He does not need to find a trade - he has one and that is dominating the league once again when he returns and no matter how much you hate on him, your word means very little and you will still be working your 9-5. Get over it!
Have a nice day :)
michael vick
Mr. Vick will be back as long as he can perform at a high standard.As long as he is marketable and profitable because of his talent.Just look at Kobe Bryant , not forgotten on the court but forgotten off!!!!Need I say more!!!!
What's the difference
I saw a picture of Sarah Palin posing with a dead moose that she killed-how vicious is that. Mike Vick kills a dog and he gets time jail, Sarah kills a moose and she gets a spot in the VP spotlight....am I missing something here. PETA needs to head to Alaska.
Am I missing something here?
Michael Vick is WILLING to pay part of his salary to pay off his debts. I'm not exactly, "willing" but I give way more than 20-33% of my income to pay my debts every 1st and 15th. It's a novel concept, Mike. It's called, "Paying your bills." You should try it sometime!
Of course, we're talking about the same genius that had to be thrown in jail to be convinced that dog fighting is illegal.
Umm......no!
Mike Vick will never be allowed to play again! Who would want to see him?
He is where he be for what he did to those dogs. When he does get out of prison, he should just go somewhere and shut-up!
I've Got A Better Idea...
Why doesn't Vick take another 1/3 - 1/5 of his salary and donate it to the rehabilitation of dogs rescued from figt organizations?
80%
80% of people released from prison end up going back. He will be back. People will stop looking the other way on the little stuff now. Just like the former #32 for the bills.
What is cruelty exactly?
I was channel surfing recently and came across a documentary boxing. Now we are talking about humans of course, and it amazes me that we allow humans to box, fight, whatever you want to call it and knock each other senseless and at the same time bet on them and this of course is legal, but dog fighting (and I am against them both) is a crime where a person loses basically everything they have gained in life and is placed in prison. Somehow this does not seem justified, nor correct. Looking a the story on PETA yesterday was really confusing, too much noise for animals, and replacing cows milk in ice cream with breast milk? Come on someone is really mixed up. We eat animals by the way and in some places they eat dogs. Who are more important, humans or animals, and what is worse, cruelty to humans(boxing) or cruelty to animals(dog fighting).
But this is the world we live in, stain at a gnat and and swallow and camel!
yeah!
it's not like he is Frank Raines!
Vick
Dog fighting and betting on the outcome is much worse than what Pete Rose did and he was banned from basball. Vick should be banned from football and made to get a real job .