Due to a combination of many factors, Philadelphia Eagles quarterback Michael Vick reportedly only has $1.5 million remaining of the $31 million he has earned the last four years.
TMZ reported the news and completely misrepresented matters to make Vick look much more irresponsible than he is. Their headline says “MICHAEL VICK – I’ve Spent $29 MILLION In Four Years.”
The truth is that about a third of the $31 million — $10.9 million to be exact — went to taxes. I wouldn’t exactly call that spending. $9.2 million went to creditors to pay back debts. $2.7 million reportedly went to lawyers and accountants (he needs to find some cheaper lawyers and accountants because that is just a ridiculous amount).
Vick has about $1.5 million remaining, which means he has spent about $6.8 million over the past four years in child support and living expenses. If you figure about $1 million went to child support, that means he spent about $5.8 million in four years — or about $1.2 million a year to live.
We know he supports his wife, children, and other members of his family. While that is a lot of money to spend each year, Vick doesn’t appear to be nearly as fiscally irresponsible as TMZ and other outlets are making him out to be. Most people ignore that athletes pay taxes on their big contracts.
Vick could certainly stand to be more thrifty with his money, but he doesn’t appear to be blowing through it Vince Young-style.
Photo credit: Eric Hartline-US PRESSWIRE
