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UPDATED: 9:14 am CDT July 8, 2008 RICHMOND, Va. -- Imprisoned quarterback Michael Vick is seeking bankruptcy protection, saying that he owes between $10 million and $50 million to creditors. 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 28-year-old also estimates his assets at between $10 million and $50 million. Vick is serving a 23-month prison sentence at the U.S. Penitentiary in Leavenworth, Kansas, after pleading guilty last year to bankrolling a dogfighting ring. He was subsequently suspended indefinitely without pay and lost all his major sponsors, including Nike. He also faces state charges related to dogfighting. According to the filing, the debt includes a $3.75 million prorated... [read full story]
