Jailed Michael Vick Owes $10-$50 Million, Files For Bankruptcy

After being suspended without pay for arranging dogfights in his home and then jailed for the same crime, Michael Vick now finds himself $10-$50 million in debt, including a part of signing bonus to the Atlanta Falcons that the team wants back.

AP: Vick filed Chapter 11 papers in U.S. Bankruptcy Court in Newport News on Monday. The seven largest creditors listed in the court papers are owed a total of about $12.8 million.

The suspended Atlanta Falcons quarterback hopes he “can, after the conclusion of the bankruptcy case, rebuild his life on a personal and spiritual level, resurrect his image as a public figure, and resolve matters with the NFL such that he can resume his career,” according to the filings.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.