The costs of Vick’s evil just keep mounting up…
Thanks to PilotOnline.com for this article.
Arbitrator says Falcons can recoup nearly $20 million from Vick
By PAUL NEWBERRY, Associated Press
October 9, 2007
Already facing prison time, Michael Vick lost the first round of his financial battle with the Atlanta Falcons when an arbitrator ruled Tuesday that Vick should repay much of the bonus money he got while secretly bankrolling a dogfighting ring.
The players’ union said it will appeal the ruling by Stephen B. Burbank, a University of Pennsylvania law professor and special master who oversaw last week’s arbitration hearing.
The Falcons argued Vick, who pleaded guilty to federal charges for his role in the operation, knew he was in violation of the contract when he signed a 10-year, $130 million deal in December 2004.
The team said he used proceeds from the contract to fund his illicit activities and sought the repayment of $19,970,000 in bonuses he was paid in the past three years.
Any money the Falcons recover from Vick would be credited to its future salary cap, a huge step in recovering from the loss of the team’s franchise player.
In a highly technical, nine-page ruling, Burbank said the Falcons were entitled to $3.75 million of the $7.5 million bonus that Vick was paid after signing the deal in 2004, $13.5 million of the $22.5 million in roster, reporting and playing bonuses he was paid in 2005 and 2006, and $2.72 million of the $7 million roster, reporting and playing bonus that he received this year.