ATLANTA, UPI–Aug. 25 Michael Vick stands to lose upwards of $100 million after his admission Friday to federal charges connected to dogfighting.
That figure could skyrocket to upwards of $144 million, according to The Atlanta Journal Constitution, reporting Sunday that lost Nike contracts, an Atlanta Falcons bonus and other deals gone South could make Vick’s career sack the biggest reversal of fortune in NFL, or even U.S. sports, history.
The beleaguered Atlanta Falcons quarterback signed a plea agreement admitting conducting an enterprise including gambling and the sponsoring and transporting of dogs in dogfighting operations.
Afterward, he was suspended indefinitely without pay by NFL Commissioner Roger Goodell.
Falcons’ owner Arthur Blank said the team wants to recover its $22 million bonus from the 10-year, $130 million contract Vick signed in December 2004.
Also, Nike has canceled its endorsement deal, which includes an athletic shoe due to be released to retailers later this year.
“The best advice any PR person can give Vick is ‘work out, lift weights and run a lot while in jail,’ Ronn Torossian, president and chief executive officer of New York-based 5W Public Relations, told the newspaper, “because the only money he has a chance to make in the future is on the football field, not off it.”