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Tuesday, August 28, 2007

Vick's Biggest Problem May Not Be Prison

Aab The legal woes of Atlanta Falcons quarterback Michael Vick have been getting more play over on the blogs devoted to criminal law issues, but he’s got some potential contract issues as well.  Vick, who pleaded guilty to federal charges of conspiracy involving a dogfighting scheme, got a $120 million contract when he signed with the Falcons as the number-one pick in the NFL draft in 2001. The contract has a morals clause, which makes Vick potentially liable to repay an amount estimated to be between $22 million and $28 million.

Vick also has an endorsement contract with Nike, which had planned a "Vick Zoom V" shoe for release this year -- a product line that is now moribund. Nike, say sources, may have claims against Vick for the money it paid to develop and market the shoe.  (Image: Wikipedia Public Domain.)

[Frank Snyder]

http://lawprofessors.typepad.com/contractsprof_blog/2007/08/vicks-biggest-p.html

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