After Michael Vick signed a lucrative deal with the Philadelphia Eagles to the tune of about $100 million six-year deal, he could be arguably the most spectacular bankruptcy filing comeback ever. Back in 2008, Michael Vick filed for bankruptcy protection to eliminate $20.3 million in debt. At the time, Michael Vick was serving a 24 month sentence in federal prison for dogfighting. When Vick was convicted, he lost his $130 million contract with the Atlanta Falcons and Nike endorsement deal. NFL stars that have recovered from filing bankruptcy are not unheard of.
New York Jets quarterback, Mark Brunell made a bad investment and now he is in the process of filing bankruptcy to the tune of $24.7 million. At the time he made the failed restaurant real estate partnership deal, he was playing for the Jacksonville Jaguars. Last year, Brunell made a whopping $1.5 million and is expected to clear his bankruptcy filing in October.
Another NFL star that had to file for bankruptcy was former Los Angeles Rams offensive lineman Duval Love. When Love retired in 1996, he was in good financial shape. Until, Duval and former Rams teammate Eric Dickerson got caught up in a $35 million ponzi scheme by DFJ Italia. That and a few other bad ventures drained the one time star’s bank account. Since the bankruptcy filing, Love has recovered, focusing on a coaching career.