Michael Vick's Bankruptcy Case Closed by Judge After Paying Over $17 Million

Scott Polacek@@ScottPolacekFeatured ColumnistFebruary 12, 2018

FILE - In this Jan. 1, 2017, file photo, former Atlanta Falcons quarterback Michael Vick stands on the sidelines before NFL football game between the Falcons and the New Orleans Saints in Atlanta. Vick told Fox Sports 1 Monday, July 17, 2017, that former San Francisco 49ers quarterback Colin Kaepernick should get a haircut in order to
John Bazemore/Associated Press

Former NFL quarterback Michael Vick is reportedly no longer bankrupt. 

On Monday, TMZ Sports reported he paid back more than $17 million in debt, leading to a judge to close his bankruptcy case. TMZ cited documents saying outstanding debt was owed to Bank of America, BMW financial services and a tax collector.

The story noted Vick filed for Chapter 11 in 2008 when he was out of the league and down endorsement deals after being sentenced to prison for his involvement in a dogfighting scandal and "owed approximately $17.6 million to dozens of creditors."

Vick, who played 13 seasons for the Atlanta Falcons, Philadelphia Eagles, New York Jets and Pittsburgh Steelers, made his last payment in November.

Darren Rovell of ESPN.com reported on the final payment in November and pointed out Vick filed for Chapter 11 instead of Chapter 7 bankruptcy so he could contribute future income to paying off his creditors.

He made almost $50 million from 2010 through 2014 while playing for the Eagles and Jets, which helped him reach this point where his bankruptcy case was closed.

"Paying 99 cents on the dollar, which he did, is remarkable," Joseph Luzinski, a senior vice president with the consultancy firm that was involved in Vick's bankruptcy, said. "It happens in, maybe, one out of 100 cases."

Vick was a four-time Pro Bowler during his playing days and joined Fox Sports as a studio analyst in 2017.

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