Uh-oh. Do we have another Vince Young on our hands?!
Eh, not quite. Although Michael Vick is strapped financially right now, his situation is a little different than VY's is. Since he filed for bankruptcy in 2008, Vick has made about $31 million playing in the NFL for the Philadelphia Eagles and endorsing different companies. However, of that $31 million, more than $29 million of it is now gone. And, what did Vick spend it on? Well, according to some legal documents that TMZ got their hands on recently, $10.9 million went to taxes, $9.2 million went to creditors, $2.7 million went to lawyers, and about $7 million was used for things like child support and basic living expenses. So, all told, Vick only has about $1.5 million of the $31 million he's made since '08 left.
The good news in Vick's case is that he's paid off all his creditors now so he's finally free from his debt. The bad news? Although he's currently signed to a six-year, $100 million contract with the Iggles, there's a real chance this could be his last year with the team (and only $40 million of that contract is guaranteed). So, he better make sure he's handling the money he's got left right now very, very carefully. Otherwise, we will have another Vince Young on our hands soon.