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It doesn’t look like the Falcons will be getting their money back from Michael Vick anytime soon.
A court ruled in February that Vick owed the Falcons $3.75 million in bonus money, which was only a small portion of the $19.7 million in bonuses the team had already paid him and hoped to recoup. Vick, however, filed for bankruptcy protection earlier this week and cited debts between $10-50 million.
Money that the Falcons get back from Vick would give them salary cap space, which they could use to sign free agents and re-sign players already under contract. If the franchise was able to regain a substantial portion of the $19.7 million it seeks, that could make a major difference in the team’s offseason plans next year.
It would appear that Vick, who is serving a 23-month prison sentence for his guilty plea to felony dogfighting charges, will not be able to repay those debts or any others for some time.
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