Michael Vick plans to make how much money?

[KurtBevacqua]

I have to think there are perfectly sound legal and financial reasons why Michael Vick would file for such high potential salary in his bankruptcy proceedings. At least I hope there because if there isn't, the crack being smoked on Planet Vick must be pretty good.

In fact, I wonder if he could even earn the $750K minimum he filed for. Of course this makes a certain sense. Maybe he expects to make $750K or less so under his plan he can keep all of it. Shoot for the stars, and if you miss maybe you get the moon instead. I suspect when Vick does try out for the NFL again he will get a deal with minimal base salary and loads of incentives.

Michael Vick is banking on return to NFL | ajc.com

The embattled Atlanta Falcons quarterback is hoping to earn as much as $10 million a year or more, according to court filings in his bankruptcy case. Under the plan he submitted to the court, Vick would keep the first $750,000 of his annual income over the next five years. After that, a percentage would go to his creditors based on a sliding scale.

[PotatoPeeler]

Vick's bankruptcy plan also includes him keeping two of his homes and three of his cars, including a 2007 Lincoln Navigator, a 2008 Infiniti truck and a 2007 Land Rover.

Apparently Vick and his lawyers are a little fuzzy on the definition of "bankruptcy".

[Skipaway]

It's not that he truly believes he can make that much, or he really plans to make that much. It's just a plan presented to the court that would make debt payment easier for him.

One of his creditors is already objecting the plan.

[rem]

Well, that figure probably includes NFL compensation, endorsements, investment income and cut of any dog fights he's involved in.

[Cooleyvol]

Endorsements? Are you serious?

[rem]

Originally Posted by Cooleyvol

Endorsements? Are you serious?

Kobe Bryant's doing okay for himself. Besides, just about any starting NFL player has endorsements of some kind.

[eriqjaffe]

'sides, that Tru-Link Fence contract is worth some pretty good scratch!

[rem]

See, Vick has a full-time construction job lined up:

Atlanta Falcons quarterback Michael Vick is in bankruptcy court - ESPN

[Skipaway]

I was reading the news artilce on this, and I think the plan really has nothing to do with how much Michael Vick plans to make. It's just about how much Michael Vick plans to pay the creditors.

So if he makes less than $750,000, he'd get to keep it all. Everything he makes above that would be taken with a progressive rate that caps at $10m and 33%.

Some creditors like this because Vick's net value is in the negatives right now, and with this plan Vick would have the incentive to work hard back into NFL to repay all the debt. Some creditors don't like it because they don't think Vick can make enough, so liquidation might be better.

[Cooleyvol]

Originally Posted by remangiii

Kobe Bryant's doing okay for himself. Besides, just about any starting NFL player has endorsements of some kind.

I wasnt aware Kobe was a convicted felon.

[Jose Cardenal's Afro]

I heard he is opening up his own business see here

[Skipaway]

Judge rejects Michael Vick's plan to overcome bankruptcy - ESPN

But after more than three hours of testimony in which Vick laid out what he called his "exit strategy," U.S. Bankruptcy Judge Frank J. Santoro rejected it. Santoro told Vick to draft a new Chapter 11 plan, one with a bit more certainty.

Santoro said there is no guarantee the league will have the 28-year-old player back, and suggested he start on a new plan by considering liquidating one or both of his Virginia homes and three cars he had planned to keep.

[Michael Hopcroft]

I remember my own Chapter 7 filing a few years back. I had virtually no assets as opposed to some substantial liabilities (disability will do that to a guy). Luckily I had an understanding judge.

I think Vick has an understanding judge to -- that is a judge who understands the difficulty of Vick's position. I think he's genuinely trying to help Vick get out of this mess by bringing him abck to reality.

Even if Vick is reinstated, he would be a public relations nightmare for any team that signs him, and his contributions on the field wouldn probably not be worth the stress and strain. Even Jerry Jones, who is fond of such reclation projects, would have to think twice before taking in someone convicted of such a heinous (in the public eye) crime as dogfighting.

[Comedian2004]

In some 3rd world countries, dog fighting is legal, so, maybe companies that have sweat shops there may endorse him.

Originally Posted by Cooleyvol

Endorsements? Are you serious?

[stevebydac]

Originally Posted by Cooleyvol

I wasnt aware Kobe was a convicted felon.

He's not - but he is an alleged rapist.

This is part of the statement Kobe Bryant made at the end of the settlement: "Although I truly believe this encounter between us was consensual, I recognize now that she did not and does not view this incident the same way I did. After months of reviewing discovery, listening to her attorney, and even her testimony in person, I now understand how she feels that she did not consent to this encounter."

Did you know he lied to the police when first questioned about having sex with that woman? You can read it (on page 8) in the police interview HERE .

This - rape or fling (if you believe that) - all happened while his wife was home with his 5-MONTH-OLD child. Nice guy.

Tell me, if you were rich and someone FALSELY accused you of rape, would you A) make a guilty-sounding statement saying "I now understand how she feels that she did not consent to this encounter" or B) use all of your money and high-priced lawyers to defend your honor, and sue and ruin this person who was lying about you and destroying your image?

He didn't do the latter. He settled with this woman. Any truly innocent man - ESPECIALLY with a wife and baby - WOULDN'T settle.

So no, Bryant isn't a convicted felon. But only a blind basketball pom-pom waver can ignore what he did. And yet, Bryant gets endorsements because these companies know there are a lot of idiots out there who don't care about anything but a nice jump shot.

So, sadly, yes I believe someone will give Vick endorsements.

[KurtBevacqua]

Kobe does have one thing, OK make that a couple of things running in his favor Vick does not. First, Kobe has won multiple titles, Vick has never won anything of real significance. People are a lot more forgiving of a winner. Second, Kobe is about as fundamentally sound a player as you will ever find. His game is very nearly flawless. He's a fantastic combination of both style and substance. Vick is not by any means a fundamentally sound player. Oh he did some great things in his own way, but his game is flawed. Low accuracy and questionable decision making are two things you definitely don't want in a QB. Third, there were some doubts to Kobe's accuser. He successfully cast suspicion on her. Meanwhile there were no doubts about Vick's victims. They were innocent dogs that he admitted killing. Will Vick get some endorsements? I guess it depends on whether or not he can make a successful comeback. But no way do I ever see him in the same league as Kobe.

[Skipaway]

Vick can probably get endorsements if his comeback is successful and he donates all of the first couple of endorsements to dog-related charities. That way he could craft some kind of sincere reformer image.