Wednesday, September 4, 2013
Report: Vick close to repaying $20M in debt
By Phil Sheridan
Michael Vick's contract status took on added significance with a report that the Philadelphia Eagles quarterback is close to repaying $20 million in debt.
The Virginian-Pilot reported that Vick could soon emerge debt-free from Chapter 11 bankruptcy, which he entered after federal charges connected to dogfighting derailed his NFL career.
"I had obligations and responsibilities that I had to take care of," Vick told the paper. "Through the success I've had over the last four years, I could take care of those issues. It was one of my goals."
Vick's initial success after signing with the Eagles in 2009 netted him a five-year, $80 million contract in the summer of 2011. Vick was scheduled to make $15.5 million for 2013 under that deal. However, after two down seasons and with a large roster bonus due to him, Vick agreed to a restructured one-year deal in February. He will make $7 million, including a $3 million signing bonus, with the chance to make up to $1.5 million more in bonuses tied to playing time.
Vick won the starting QB job in competition with Nick Foles over the summer. However, Vick will become a free agent after this season. Word of his repayment of $20 million means he is under even more pressure to earn another significant contract. Vick said that isn't on his mind going into the season.
"The way I look at it, I'm just here to play football," Vick said. "I came back to help this team win football games. I can't worry about my future. The past is history, the future's a mystery. I'm willing to walk that walk. I'm willing to take on this battle and challenge with my head held high."