Facts of Michael Vick
|Full Name||Michael Dwayne Vick|
|Birth Name||Michael Dwayne Vick|
|Profession||NFL Analyst & Former NFL Player|
|Birth City||Newport News, Virginia|
|Birth Country||United States|
|Father Name||Michael Boddie|
|Mother Name||Brenda Vick|
|No Of Children||4|
|Education||Homer L. Ferguson High School, Virginia Tech|
|Date of Birth||June 26,1980|
|Married Date||June 30,2012|
Michael Vick, an American retired NFL quarterback played for 13 seasons primarily with Atlanta Falcons & then with Philadelphia Eagles, until his retirement in 2017.
Through his playing career, Vick made $47.105 million in salary alone & was listed 2nd highest-earning athletes in 2006 with $25.4 million yearly income, after NASCAR's Dale Earnhardt, Jr, by Sports Illustrated.
After missing the 2007 & 2008 NFL season due to imprisonment, Vick joined Philadelphia Eagles in 2009 & became NFL Comeback Player of the Year in 2010.
Indeed, Michael's downfall to bankruptcy due to poor management, bad investments, and lawsuits in 2008 & later arise to a millionaire is indeed an aspiring story of never giving up.
As of 2020, he has a net worth of $16 million as per Celebrity Net Worth.
How Much Is Michael Vick's Net Worth In 2020?
The 4-time Pro Bowl played professionally from 2001 to 2017 totaling NFL career earnings at $117.218 million. Although, as per financial advisers, Michael Vick was thought to be worth $100 million by 2010, he was rather $20 million in debt by the time.
After struggling Chapter 11 bankruptcy & ongoing financial management, Vick's finance smoothed & gained pace following his return to NFL in 2009 after a 2-year hiatus (was in prison).
According to Celebrity Net Worth, Michael Vick has an estimated net worth of $16 million as of February 2020.
The Virginia Tech alum became the Atlanta Falcons' top pick in the 2001 NFL Draft & signed a 6-year contract worth $62 million.
Following his involvement in the 2007 Bad Newz Kennels dog fighting, the NFL suspended Vick for 2 seasons citing the violation of the league's regulation & even was imprisoned for 3 years.
After release from prison, the 6 ft. tall NFL player returned in late 2009 and joined Philadelphia Eagles (2009- 2013) and then one-season play with New York Jets and Pittsburgh Steelers.
Check out his earnings from NFL teams:
- Atlanta Falcons (2001- 2008, 6 seasons)- $57.46 million
- Philadelphia Eagles (2009- 2013, 5 season)- $54.741 million
- New York Jets (2014 Season)- $4 million
- Pittsburgh Steelers (2015 Season)- $1.017 million
Retired From NFL After 13 Season: NFL Contracts & Salary
After 13 seasons on NFL (except suspension in 2007 & 2008), Michael Vick professionally played since his draft in 2001 until his retirement on June 12, 2017.
As for a fact, after being waived from New York Jets following the 2015 season, Vick announced to play for a season in 2016, though remained contract-less for a year & eventually retired.
The Newport News, Virginia-born signed his career-high contract worth $130 million for 9 years with the Falcons on December 23, 2004.
However, after he pleads guilty to felony charges for dogfighting in 2007, the multi-year mega-contract was nullified.
Despite these facts, Michael's NFL comeback recorded his NFL career earnings of $117,218,908 including $47.105 million from base salary alone.
Contracts Signed In NFL:
|Atlanta Falcons||6-year deal signed on May 9, 2001||$62 million|
|9-year contract penned on December 23, 2004||$130 million|
|Philadelphia Eagles||2-year contract signed on August 13, 2009||$6.8 million|
|Exercised option bonus for a year (March 2, 2011)||$5. 2 million|
|Was offered 1-year franchise tag||$16 million|
|A 5-year contract on August 29, 2011||$80 million|
|1 year restructured contract on February 11, 2013||$7.5 million|
|New York Jets||1-year contract signed on March 21, 2014||$4 million|
|Pittsburgh Steelers||1-year deal signed on August 25, 2015||$970 K|
Salary From From NFL Teams: Falcons, Eagles, Jets & Steelers
|2001||Atlanta Falcons||$2 million ($3 million signing bonus)|
|2002||$900,000 ($8 million option bonus)|
|2003||$3.4 million ($100,000 incentive)|
|2004||$5 million ($7.5 million signing bonus)|
|2005||$60,000 ($22.5 million restructure bonus)|
|2006||$1.4 million ($200,000 roster bonus & $3.4 million restructure bonus)|
|2009||Philadelphia Eagles||$1.625 million (1.5 million restructure bonus & $1.266 million incentive)|
|2010||$3.75 million ($1.97 million incentive)|
|2011||$10 million ($7 million signing bonus & $3 million roster bonus)|
|2013||$3.5 million ($7.7 million signing bonus, $500,000 roster bonus & $500,000 incentive)|
|2014||New York Jets||$2 million ($2 million signing bonus)|
|2015||Pittsburgh Steelers||$970,000 ($47,908 incentive)|
Suspension From NFL & Imprisonment
After Michael plead guilty to the single charge for his involvement in the Bad Newz Kennels dog fighting in August 2007, he received a 3-year sentence in prison, a fine of $2,500 & even more, was suspended indefinitely.
He was released on July 20, 2009, however, his financial structure disfigured after poor management & numerous lawsuits along with legal charges.
While in prison, Atlanta Falcons who earlier signed him on a $130 million contract in 2006, asked Vick reimburse them $20 million of the $37 million bonus. After arbitration, the payable amount to Falcons was reported to $19.97 million.
Michael Vick, already on negative net worth, filed for bankruptcy later.
Filed Chapter 11 Bankruptcy: How He Drowned In Debt?
With almost no income while in prison (had almost $18 million debt before he entered prison), Michael Vick's bank balance saw downhill soon after.
Along with bad investments & poor management, the monthly expenses of $12,225 for several large homes for his family & friends, turned out a nightmare as Michael made only $277.69 monthly.
On July 7, 2008, the now-retired NFL player filed for Chapter 11 Bankruptcy filing a total debt of between $10- $50 million while asset holding was less than $50 million already.
Here are the major debtors of Michael Vick & their lawsuits added in financial troubles with increased legal fees.
- Joel Enterprises- The NFL players signed a 5-year marketing agreement with the firm but backed out some weeks later. Thereafter, Joel Enterprises sued him for $45 million for compensatory & breach of contract & in December 2006, the company got favor with a rule of $4.5 million.
- Option bonus reimburses with Atlanta Falcons- From the $37 million signing bonus of 2004, the NFL team asked $20 million in refunds & but arbitrarily agreed between $6.5 and $7.5 million following Vick's bankruptcy.
- Royal Bank of Canada- On September 20, 2007, the bank filed a lawsuit against Michael demanding $2.3 million over a loan tied to real estate. Later in May 2008, the court issued an order to Michael to pay $2.5 million.
- Wachovia Bank- Following Wachovia's federal lawsuit against Michael & Gerald Frank Jenkins (who owns Atlantic Wine & Package LLC since 2004) in October 2007, the bank got a rule in their favor with $1.11 million despite seeking $900,000 upon $1.3 million loans given.
Plans To Overcame Bankruptcy: Paid All Debt By 2015
With his attorneys, on November 12, 2008, Michael made plans for bankruptcy reorganization, which included sales of his 3 homes out of 6 & pay back every creditor in 6 years with an estimated $9 million in assets to be liquidated.
Moreover, he sold his $85,000 worth Mercedes-Benz to pay debts.
Since his return in NFL in 2009, it aided in debt payment; living off only $300,000 & paying the rest of money earned to debtors. All those expenses were divided into:
- $12,363 a-month to fiance (now wife) Kijafa Frink & 2 children including $3,712 per month on the Hampton house mortgage & $1,355 per month in private school tuition for children
- $14,531 a month to his mother
- $3,000 per month in child support for son, Mitez, with former girlfriend Tameka Taylor
As per court documents, by 2014, Vick cleared 87% of his debt & became debt-free in late 2015.
Did you know? Vick paid his agent Joel Segal, a sports agent, $32,500 in 2010, $104,000 in 2011 & a total of $776,500 throughout 2012- 2015. Moreover, his expenses on bankruptcy lawyers recorded $2.6 million.
Endorsements Deals & Earnings
After Michael's arrest in 2007 for dogfighting, Nike cut off $2 million deal with the now-retired NFL player & would later sign him again in 2011.
Furthermore, on January 27, 2011, he signed an endorsement deal with Unequal Technologies. In 2012, the NFL star launched a sports clothing line called V7.
Reportedly, his earnings from promotional deals were $2 million in 2012.
Charity Works & Donations
Michael's ran 2 non-profit organizations: Michael Vick Foundation (ceased in 2006) and The Vick Foundation. With the charitable organizations, he raised over $100,000 in funding.
Moreover, following the Virginia Tech massacre in 2007, Vick along with the United Way donated $10,000 to support the families of victims.
What Is Michael Currently Doing & His Lifestyle?
Already with an encounter with bankruptcy still follows $300,000 living off rule & does savings reportedly. Currently, Vick works as an analyst on Fox NFL Kickoff on FS1 since 2017.
Reportedly, Michael Dwayne Vick (born on June 26, 1980) lives in Virginia with his wife Kijafa Vick & 3 children: London, Jada & Michael Jr.
The duo married on June 30, 2012, & are together ever since.
The former NFL star maintains 2 Virginia houses; in Suffolk and in Hampton. Reportedly, his 5-bedroom Hampton house sitting on 3,538-square-foot was valued at $748,100 in 2008.
In late January 2020, Michael listed his Plantation, Florida house asking $2.399 million. The 6,000-square-foot property spread on 6 bedrooms & 6 bathrooms was bought by him & wife Kijafa in December 2018 for $2.38 million.
Reportedly, the couple also put their 10,563 square feet house in Duluth, Georgia featuring 7 bedrooms & 8.5 bathrooms for sale asking $4.5 million in October 2007, however, no report on the trade came up.
Formerly, Michael owned a house in Davie, Florida, which he sold in August 2018 for $1.399 million, a little above the purchase price of $1.32 million in 2013.
Aside from real estate, the millionaire NFL personality owns a fleet of luxury cars: 2012 Jaguar XJB, 2012 Audi ABL, 2012 Lexus LX570, 2012 Cadillac Escalade EXT, and 2013 Infiniti QX56.