Michael Vick takes hit in the wallet

By: The Associated Press
By: The Associated Press

Michael Vick has essentially lost his job as quarterback for the Atlanta Falcons.

He will likely end up losing his freedom. And if an arbitrator's decision holds up, he will also be losing a huge chunk of money from the Falcons.

The arbitrator's ruling isn't likely to be the only drain on Vick's finances.

He has lost the endorsement deals he has had with several firms. He has also been sued by an Indiana bank that claims he failed to repay at least two million dollars in loans for a car rental business.

In addition, a Canadian bank that claims he owes more than 2.3 million for real estate investments. The biggest issue he faces though is a prison sentence.

He is to be sentenced December 10th in the federal dogfighting case and is expected to get at least a year.

In addition, he faces dogfighting charges in the state of Virginia. Those charges carry possible sentences of up to five years each. And to top it off, Vick tested positive for pot last month. That likely won't sit well with the judge who will be sentencing him.

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