i couldn't find the original 12 page thread.............
RICHMOND, Va. - Imprisoned quarterback Michael Vick filed for bankruptcy protection while serving time for federal dogfighting charges, saying he owes between $10 million and $50 million to creditors.
Vick filed Chapter 11 papers in U.S. Bankruptcy Court in Newport News on Monday. The seven largest creditors listed in the court papers are owed a total of about $12.8 million.
Vick is serving a 23-month prison sentence at the U.S. Penitentiary in Leavenworth, Kan., after pleading guilty last year to bankrolling a dogfighting ring. He was subsequently suspended indefinitely without pay and lost all his major sponsors, including Nike. He also faces state charges related to dogfighting.
The suspended Atlanta Falcons quarterback “will seek to rebuild his life and career” upon his release, according to the filings.
The debt includes part of a signing bonus that the Falcons are seeking to recover.
After the plea on dogfighting charges, the Falcons tried to recover about $20 million in bonuses Vick earned from 2004 to 2007. But a federal judge held that Vick is entitled to keep all but $3.75 million of the money paid to him for playing football through the 2014 season.
According to the filings, Vick’s other debts include $4.5 million owed to Richmond-based Joel Enterprises Inc., and $550,0000 owed to Radtke Sports Inc. for breach of contract.
In May, a federal judge ordered Vick to repay about $2.5 million to a Canadian bank for defaulting on a loan. The Royal Bank of Canada had sued Vick in September, arguing his guilty plea to a federal dogfighting charge — and the resulting impact on his career — prevented him from repaying the loan.
A default judgment for $1.08 million also was entered in January against Vick and a business partner in a lawsuit brought by Wachovia Bank over a loan for an Atlanta-area wine shop and restaurant.
Moderators: kylervk, Joe, Hank Fist, inx515xhell
Re: Dog Fighting Enthusiast Decides To Get Into Banking
Hank Fist wrote: RICHMOND, Va. - Imprisoned quarterback Michael Vick filed for bankruptcy protection while serving time for federal dogfighting charges, saying he owes between $10 million and $50 million to creditors. .
LOL. How does someone who makes millions and millions of dollars and is basically nothing but a consumer end up owing that kind of money? What a fucking idiot. I think pro athletes do deserve high salaries and all, but it says something about us a society when monkeys like this are given that kind of money to play around with.
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noel_nothing
- Posts: 2418
- Joined: Tue Jul 19, 2005 3:54 am
- Location: waterloo, ia
Re: Dog Fighting Enthusiast Decides To Get Into Banking
i think they're waaaaay overpaid just to play a game. if anything, they should be glad to get paid over the 5 digit mark, be glad they're on tv & be happy endorsement are always there. its a game after all... they're not fighting in iraq & putting their lives on the line like the under paid/under equipped soldiers.El Rhino wrote:I think pro athletes do deserve high salaries and all, but it says something about us a society when monkeys like this are given that kind of money to play around with.
Re: Dog Fighting Enthusiast Decides To Get Into Banking
obviously the sport creates enough revenue to allow these salaries so if you don't give it to the players, who do you think deserves it? guys are just getting their fair share of the pot.
"boobiez and buttz"
- u-god of the wu tang clan
- u-god of the wu tang clan
Re: Dog Fighting Enthusiast Decides To Get Into Banking
I agree, Crow... I know it takes a lot of talent and hard work to become a professional athlete and for that they do deserve something.... but seriously, dude, giving guys like Michael Vick millions and millions of dollars? That's a recipe for distaster.
Re: Dog Fighting Enthusiast Decides To Get Into Banking
that response was towards noel but i'm not too sure that dog fighting is really worse than what a lot of other whitebred million/billionaires have pulled.
"boobiez and buttz"
- u-god of the wu tang clan
- u-god of the wu tang clan
Re: Dog Fighting Enthusiast Decides To Get Into Banking
i blame it on babysitting.
Re: Dog Fighting Enthusiast Decides To Get Into Banking
crow wrote:that response was towards noel but i'm not too sure that dog fighting is really worse than what a lot of other whitebred million/billionaires have pulled.
No, it's probably not worse than what some whitebred rich people have pulled.
But come on, really, giving a guy like Michael Vick millions of dollars?
I'd also like to see the idiots who thought it was a good idea to loan this guy anything resembling a substancial amount of money too.
Re: Dog Fighting Enthusiast Decides To Get Into Banking
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i would think giving credit or loaning money to someone that makes that much on contract renegotiations would usually be a benefit, interest wise. despite the fact hes in prison its still a debt thats accruing interest.El Rhino wrote: I'd also like to see the idiots who thought it was a good idea to loan this guy anything resembling a substancial amount of money too.
Re: Dog Fighting Enthusiast Decides To Get Into Banking
http://sports.yahoo.com/nfl/rumors/post ... nfl,123957
Check this shit out...
Joey Porter of the Miami Dolphins says "all it was was dogs" talking about Michael Vick being banned from the NFL.
All it was was dogs. They act like they don't even like pit bulls anyway. That's the funny thing about it if you want to get back on that topic. I got pit bulls, I got to put them under a different breed just to travel. So you can't even fly pit bulls nowhere.
Apparently this guy went to college for four years. I still can't believe we empower people like this by giving them millions of dollars.
Check this shit out...
Joey Porter of the Miami Dolphins says "all it was was dogs" talking about Michael Vick being banned from the NFL.
All it was was dogs. They act like they don't even like pit bulls anyway. That's the funny thing about it if you want to get back on that topic. I got pit bulls, I got to put them under a different breed just to travel. So you can't even fly pit bulls nowhere.
Apparently this guy went to college for four years. I still can't believe we empower people like this by giving them millions of dollars.
Re: Dog Fighting Enthusiast Decides To Get Into Banking
he's now going to court for the State suet.
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Joey Chaos
- Destroy!
- Posts: 4369
- Joined: Sat Oct 16, 2004 1:35 pm
Re: Dog Fighting Enthusiast Decides To Get Into Banking
Dumb niggers is dumb niggers.
Re: Dog Fighting Enthusiast Decides To Get Into Banking
(CNN) -- Nearly two years after he pleaded guilty to a federal charge of bankrolling a dogfighting operation at a home he owned in Virginia, Michael Vick was reinstated to the National Football League on a conditional basis, according to an NFL statement Monday.
Michael Vick will be considered for full reinstatement based on his progress by the sixth week.
Vick "will be considered for full reinstatement and to play in regular-season games by Week 6 based on the progress he makes in his transition plan," the statement said. Week 6 of the NFL season is in October.
Vick may participate in practices, workouts and meetings and may play in his club's final two preseason games under the conditions of his reinstatement, the league said.
Vick, in a statement, thanked the league's commissioner and former Indianapolis Colts coach Tony Dungy, who has served as his mentor.
"I would like to express my sincere gratitude and appreciation to Commissioner [Roger] Goodell for allowing me to be readmitted to the National Football League," Vick said in a statement. "I fully understand that playing football in the NFL is a privilege, not a right, and I am truly thankful for the opportunity I have been given."
Vick, 29, was freed from federal prison at Leavenworth, Kansas, on May 20 and returned to his home to serve the last two months of his 23-month sentence in home confinement.
Vick also said in his statement that he is re-evaluating his life after the "terrible mistakes" he made.
"As you can imagine, the last two years have given me time to re-evaluate my life, mature as an individual and fully understand the terrible mistakes I made in the past and what type of life I must lead moving forward," Vick said in the statement. "Again, I would like to thank the commissioner for the chance to return to the game I love and the opportunity to become an example of positive change."
The former Atlanta Falcons player is a free agent and has not been signed by any team. Goodell said he was not involved in any negotiations between Vick and a team.
Dungy has agreed to continue working with Vick as an adviser and mentor, the NFL statement said.
Goodell said Vick underwent tests after requests from animal rights groups, including a psychiatric evaluation.
"We worked with animal rights activist groups, and we are clear," he said. "We worked with their medical professionals about the aspects of our evaluations. Michael fully cooperated with all of those tests. Those tests did not indicate there was any reason he couldn't make a transition forward."
In a letter to Vick, Goodell wrote that his decision regarding full reinstatement "will be based on reports from outside professionals, your probation officer and others charged with supervising your activities, the quality of your work outside football" as well as factors such as the absence of any further law enforcement issues. iReport.com: Should Vick get a second chance?
"This step-by-step approach is not meant to be a further punishment and should not be viewed as such," Goodell wrote, according to the NFL. "Instead, it is intended to maximize the prospect that you can successfully resume your career and your life. I believe that a transitional approach with a strong network of support will give you the best opportunity to manage effectively the various issues and pressures that you will inevitably face in the coming weeks and months and earn your full reinstatement." Watch Goodell talk about his decision »
The league suspended Vick indefinitely in August 2007 after his guilty plea. Although he was released from federal custody July 20, he must serve three years of probation, the league said.
In reviewing Vick's status, Goodell considered court records, submissions from Vick and others, reports from outside professionals and conversations with current and former players, among other items.
At a hearing July 22, Goodell spoke to Vick along with his representatives and others, including NFL Players' Association officials.
"As I emphasized to you when we met ... it is actions that count," Goodell wrote to Vick. "I accept that you are sincere when you say that you want to, and will, turn your life around and that you intend to be a positive role model for others. I am prepared to offer you that opportunity. Whether you succeed is entirely in your hands."
Vick has also filed for Chapter 11 bankruptcy. At a hearing in that case, he told the judge that he earned 12 cents an hour as an overnight janitor while in prison.
"We take this as a very serious matter," Goodell said. "We're dealing with a young man's life."
He said Vick admitted lying to him about his involvement in dogfighting and apologized. Goodell said he accepts Vick's apology.
He acknowledged that he does not like being lied to but said he intends to move forward.
The Humane Society of the United States has said Vick has offered to work with the organization on anti-dogfighting campaigns.
Wayne Pacelle, the organization's president, has said Vick was to work on programs aimed at preventing youths from getting involved in dogfighting and on programs to assist young people who have been involved.
In testimony before the bankruptcy judge, Vick acknowledged committing a "heinous" act and said he should have acted more maturely.
"Your margin of error is extremely limited," Goodell wrote to Vick. "I urge you to take full advantage of the resources available to support you and to dedicate yourself to rebuilding your life and your career. If you do this, the NFL will support you."
Michael Vick will be considered for full reinstatement based on his progress by the sixth week.
Vick "will be considered for full reinstatement and to play in regular-season games by Week 6 based on the progress he makes in his transition plan," the statement said. Week 6 of the NFL season is in October.
Vick may participate in practices, workouts and meetings and may play in his club's final two preseason games under the conditions of his reinstatement, the league said.
Vick, in a statement, thanked the league's commissioner and former Indianapolis Colts coach Tony Dungy, who has served as his mentor.
"I would like to express my sincere gratitude and appreciation to Commissioner [Roger] Goodell for allowing me to be readmitted to the National Football League," Vick said in a statement. "I fully understand that playing football in the NFL is a privilege, not a right, and I am truly thankful for the opportunity I have been given."
Vick, 29, was freed from federal prison at Leavenworth, Kansas, on May 20 and returned to his home to serve the last two months of his 23-month sentence in home confinement.
Vick also said in his statement that he is re-evaluating his life after the "terrible mistakes" he made.
"As you can imagine, the last two years have given me time to re-evaluate my life, mature as an individual and fully understand the terrible mistakes I made in the past and what type of life I must lead moving forward," Vick said in the statement. "Again, I would like to thank the commissioner for the chance to return to the game I love and the opportunity to become an example of positive change."
The former Atlanta Falcons player is a free agent and has not been signed by any team. Goodell said he was not involved in any negotiations between Vick and a team.
Dungy has agreed to continue working with Vick as an adviser and mentor, the NFL statement said.
Goodell said Vick underwent tests after requests from animal rights groups, including a psychiatric evaluation.
"We worked with animal rights activist groups, and we are clear," he said. "We worked with their medical professionals about the aspects of our evaluations. Michael fully cooperated with all of those tests. Those tests did not indicate there was any reason he couldn't make a transition forward."
In a letter to Vick, Goodell wrote that his decision regarding full reinstatement "will be based on reports from outside professionals, your probation officer and others charged with supervising your activities, the quality of your work outside football" as well as factors such as the absence of any further law enforcement issues. iReport.com: Should Vick get a second chance?
"This step-by-step approach is not meant to be a further punishment and should not be viewed as such," Goodell wrote, according to the NFL. "Instead, it is intended to maximize the prospect that you can successfully resume your career and your life. I believe that a transitional approach with a strong network of support will give you the best opportunity to manage effectively the various issues and pressures that you will inevitably face in the coming weeks and months and earn your full reinstatement." Watch Goodell talk about his decision »
The league suspended Vick indefinitely in August 2007 after his guilty plea. Although he was released from federal custody July 20, he must serve three years of probation, the league said.
In reviewing Vick's status, Goodell considered court records, submissions from Vick and others, reports from outside professionals and conversations with current and former players, among other items.
At a hearing July 22, Goodell spoke to Vick along with his representatives and others, including NFL Players' Association officials.
"As I emphasized to you when we met ... it is actions that count," Goodell wrote to Vick. "I accept that you are sincere when you say that you want to, and will, turn your life around and that you intend to be a positive role model for others. I am prepared to offer you that opportunity. Whether you succeed is entirely in your hands."
Vick has also filed for Chapter 11 bankruptcy. At a hearing in that case, he told the judge that he earned 12 cents an hour as an overnight janitor while in prison.
"We take this as a very serious matter," Goodell said. "We're dealing with a young man's life."
He said Vick admitted lying to him about his involvement in dogfighting and apologized. Goodell said he accepts Vick's apology.
He acknowledged that he does not like being lied to but said he intends to move forward.
The Humane Society of the United States has said Vick has offered to work with the organization on anti-dogfighting campaigns.
Wayne Pacelle, the organization's president, has said Vick was to work on programs aimed at preventing youths from getting involved in dogfighting and on programs to assist young people who have been involved.
In testimony before the bankruptcy judge, Vick acknowledged committing a "heinous" act and said he should have acted more maturely.
"Your margin of error is extremely limited," Goodell wrote to Vick. "I urge you to take full advantage of the resources available to support you and to dedicate yourself to rebuilding your life and your career. If you do this, the NFL will support you."
Re: Dog Fighting Enthusiast Decides To Get Into Banking
he still hasn't found a team that will take him has he?
"boobiez and buttz"
- u-god of the wu tang clan
- u-god of the wu tang clan
Re: Dog Fighting Enthusiast Decides To Get Into Banking
Smart money says that within two years Michael Vick puts out a rap album.
The guy will always be a shithead but I guess he paid his debt to society.
The guy will always be a shithead but I guess he paid his debt to society.
Re: Dog Fighting Enthusiast Decides To Get Into Banking
i thought the cowboys expressed interest?crow wrote:he still hasn't found a team that will take him has he?
Re: Dog Fighting Enthusiast Decides To Get Into Banking
It has been reported that a few teams expressed interest. Cowboys, vikings, patriots, redskins.
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TooManyHumyns
- Posts: 2223
- Joined: Sun Oct 17, 2004 6:47 pm
Re: Dog Fighting Enthusiast Decides To Get Into Banking
semi unrelated...but my uncle was next door cell mates to this guy in prison, my uncle got out several months ago...anyways my uncle got really into origami in prison, and made a bunch of oragami footballs for Vick to sign and send to family...unfortunately i did not get one...would have been a funny thing to sell on ebay...but, i guess they got along well...and considered one another friends...