Michael Vick’s Biggest Fans? His Creditors

Michael_vick
Tomorrow night, ESPN Radio's "The Sporting Life" will air an "Outside The Lines" piece on Michael Vick's debt.  It seems his creditors are his biggest fans, as they stand to potentially earn a huge payday if Vick gets his new contract.

Vick owes various creditors upwards of $20 million, and the better he plays (and the more he makes), the better their chances of getting paid.

We have some audio from the upcoming segment, in which Vick's creditors and his former financial planner weigh in.

Rick Radtke, creditor owed $250,000 by Vick under bankruptcy agreement (owner of Radtke Sports memorabilia business):

“Every Monday morning, my wife asks me, ‘How did Mike Vick do? Are we ever going to see the money?’”

 

Michael Smith, a financial planner who warned Vick about his hangers-on (someone should tell Lou Williams about these guys):

“I used to tell Michael, ‘Listen, none of these guys have jobs. You know what their job is? Their job is to get money out of you. That’s their job."

 

Vick has fans everywhere.  Click to listen.

Vick Debt Preview SOT

 

Perhaps his girlfriend could have done without the $100,000 Porsche he bought her.  Although, he did sell exclusive pics of it to TMZ to recoup some of the cash…

You can listen to the full story on The Sporting Life with Jeremy Schaap tomorrow night at 10 P.M. on ESPN Radio.

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11 Responses

  1. “as they stand to earn a huge payday when Vick gets his new contract.”
    Uh, that’s not how bankruptcy works. They will be paid back money they loaned to Vick pursuant to the terms of the bankruptcy. Oftentimes they get back less than the principal amount that was loaned.

  2. made a small adjustment- it then goes on to say that the better he plays, the better their chances of getting paid. it’s not a 1-1 correlation, but with his contract comes the chance of them getting some money back

  3. Hey Saab no need to cry about it…I’m just saying, he shouldn’t be handing out money to his stupid girlfriend, he should be helping animals, the rest of his life.

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