Former NFL quarterback Michael Vick may be in financial trouble, according to a report from South Florida.
By Miami Herald’s David Ovallea group of creditors have asked a Broward County circuit court to force the former Atlanta Falcons and Philadelphia Eagles star to repay approximately $1.2 million in judgments on loans he received in Maryland in 2018.
Lawyers for the group have reportedly issued subpoenas for Vick and her family, seeking to detail their assets in depositions scheduled for August 5. Luckily for Vick, her new home on the southwestern ranches of Broward County isn’t in jeopardy due to Florida law protecting primary residences. , but the plaintiffs hope to demand assets such as cars, jewelry and sports memorabilia.
From the herald:
“They indeed live in the house. There was a $160,000 Bentley in the driveway,” said Kevin Spinozza, a Coral Gables attorney leading the local collection effort. “Obviously a nice house, the one you’d think a retired NFL player would live in.”
Vick allegedly received a number of loans which he failed to repay. This lawsuit concerns two loans made to Atlantic Solutions in Bethesda, Maryland, in which Vick was supposed to repay the money through the sale of his former home and funds from his retirement and pension accounts with the NFL.
The debt was reportedly sold to a brokerage firm called SMA Hub, which then split the interest and sold it to a group of six people, one of whom was a 60-year-old teacher’s assistant from Texas. who claims to have paid all of his $50,000. life savings in investment.
Vick would never repay the loan.
From the herald:
His South Florida lawyer, Arthur Jones, suggested in a statement that the amount of the judgments was inflated.
“Michael Vick takes these matters seriously and is aware of the process and will be sure that all parties who are entitled to receive payment will be paid,” he said. “However, usurious calculations that produce absurd results should not be tolerated by Florida courts. Therefore, all appropriate defenses will certainly be employed. Further commentary on the shenanigans that lead to situations like this may be made available at a later date.
Not Michael Vick’s first money troubles
The Herald mentions $400,000 in loans also issued by Atlantic Solutions, which ultimately led to a $1.9 million judgment against Vick, a judgment he also allegedly failed to pay.
There were also reportedly lawsuits against Vick by CBS Radio East for alleged breach of contract by failing to appear regularly on New York’s WFAN and Mercedes Benz’s finance arm over him failing to make payments. on a car.
Vick’s NFL career was sadly cut short by his 23-month prison sentence for dogfighting, but he had still received over $115 million in career earnings by the time he retired. according to Spotrac. He played a total of 13 seasons, mostly with the Falcons and Eagles. He played one season each for the New York Jets and Pittsburgh Steelers late in his career.
Since hanging up his boots, Vick has worked as a media analyst, coached with the now-defunct Alliance of American Football and recently found employment with athlete management company Level Sports Group, according to the Herald. .
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