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 .
Vicious Dog Killer
Who cares what he does? All I know is that he was vicious, cruel and inhumane to dogs.Why would any team want them to play for them????????
Michael Vick
He will serve his time...if he can get back into football, it's a good plan. People should leave him alone, after all this isn't Jeffery Dahmer!
RE: paid enough
"To paraphrase what Mike said: growing up he saw people fighting dogs and selling drugs. He saw people go to jail for sellling drugs, but he never knew anyone to go to jail for dog fighting"
There is something clled common sense that was not in play with Vicks thinking. I'm sorry, but anyone that doesn't understand dog fighting isn't playing with a full deck. Maybe he didn't know about cruelty to animals growing up, but one would hope as an adult he would undertand such a senseless act. Looks like he didn't! He is were he belongs------in jail!
What's wrong here
What's wrong with this plan? It's simple, no one knows what tommorrow will bring to their lives. Will he have a job tommorrow, will it be of the same type that he had before or will he be relegated to a lesser paying job? Sounds to me as if he knows what his future may bring. As foolish as it would be for him to be rehired to play professional football again, one must remember that professional football is nothing but a big business disquised as a national passtime. If he hasn't lost his touch, he will find a team to hire him. Will people still attend the games, sure. Will they eventually forget what he had done, probably. Does he deserve to be forgiven, who knows. But planning to make large payouts from his possible income is crazy. While everything is possible, including walking out of prison and being hit by a PETA protestors vehicle, accurately predicting ones worth is not one of them. Just look to recent events on wall street, or better yet, ask a Wachovia stockholder.
Gimme a Break Anold.
Criminal Activity. Crime. Criminal. What part of these do you NOT understand. What the heck does 700 Billion have to do with This anyway? Reputation? Dang Anold, the only reputation the Vicks have or had is pitiful. Role model for the kids? No wonder the kids are running wild with no respect for human decency and not knowing the difference between Right and Wrong. I just can't get over the Vick apologists sorry excuses for that sorry excuse for a role model.
He' paid enough!
Mike has done more than paid his fair share. After all, he's serving time for fighting dogs, not for robbing the taxpayers to the tune of 700 billion dollars. When is enough enough in his case? Asking more than he has already given (career, time, reputation, and money) is like telling us that we must do ten years and lose all driving privileges forever for getting a speeding ticket. To paraphrase what Mike said: growing up he saw people fighting dogs and selling drugs. He saw people go to jail for sellling drugs, but he never knew anyone to go to jail for dog fighting. Shouldn't the cause justify the means?
He's lost his mind...
He needs to learn a skill (trade) while incarcerated. They're always looking for folks in the construction business...that would be his best bet. Unfortunately, it won't pay him enough to pay off those debts. He needs to forget about playing pro ball, that will never happen.
Who do you think you are
to say what he should or should not keep?? Geeze! I tell you wealth envy is eating y'all up. You sound just like Obama and Binden!! Spin on you head and spit wooden nickles. Your skills warrant your job. Lol The NFL doesn't want you. You want Vick to have a regular job like you to make it FAIR. Vick will make it back to the NFL and hopeful keep a level head.
A perfect example
of our mortgage industry gone wild. No judge in his right mond should allow this pig to walk away from his debts. Where is the sacrifice?
He Had His Chance... He Blew It
Michael Vick had the World handed to him on a silver platter, and he blew it all away with his stupidity. Prison was suppose to rehab the guy, but for him to make an offer like this is just evidence that he still has no freaking clue. Throw the keys away.
michael vick
if michael vick thinks he can walk back onto a football field and continue where he left off with the Falcons,then he has learned nothing while incarcerated- football skills and even God-given talents fade over time- the road back to football may be rockier than Mr. Vick realizes..ultimately he must have a change of outlook, a change of heart within himself if he is to be successful at football once again...
let him live
on minimun wage.
Who Would Take Vick?
The Oakland Raiders and Al Davis! Al would take him now on work release.
Vick
He has a future in football? What team would want to take someone like him on as a player???
I have a better recommendation
I think that Vick should get only a small pittance of a salary- enough for necessities without extras. You know, kind of like most of us live. The rest should go to pay off his debts until satisfied.
You are right, Gertz. Who does he think he is?
The Big Payback
Well at least he is paying his debts or has good intention to do so. Get off Mike's back and let the man do what he needs to do! He's paying his debt to society, what do you people want, blood too?
my oh my
Quite a few assumptions being made here. 1)Early release date; 2)Someone will actually give him a job; 3)He'll make a huge salary; 4)He'll perform at a level and stay out of trouble long enough to pay off some debt. I don't like the odds here at all!
I have a question????
Who does Vick really think he is?
Did I miss something?
Let's see. He is suppose to serve 23 months. He is getting out in July 2009. That is the fastest 23 months, I have ever heard of.
no foolin...
where do I sign up for the plan that allows me to pay a mere pittance of my salary to pay off debts? Is the man stupid, or does he truly believe that we are so impressed with him that we are willing to accept anything that comes out of his mouth and fall fawning at his feet? somebody is out of touch.