There wasn’t anything noble about it. I had a lousy year. I didn’t deserve the money.
Michael Vick will take the field on Sunday wearing the uniform of the Philadelphia Eagles, who took him in after his imprisonment for helping to run a dogfighting ring.
But thanks to his personal bankruptcy filing after he went to jail, he will also be playing for BMW Financial Services, Dodson Pest Control, Summertime Pool and the Monticello Woods Homeowners Association. They are not sponsors. Instead, they and many others have a claim on his future earnings.
Bankrupt professional athletes are a sad fixture on the sports scene, and Mr. Vick isn’t even alone among quarterbacks who have hit the financially injured reserve list. The former Cleveland Browns star Bernie Kosar and the current New York Jets backup, Mark Brunell, have had their brushes with bankruptcy, too.
Source: The New York Times
If there are lessons ordinary savers and investors can gain from the rise of the rich, there are lessons in the stumbles, too. To that end, here’s an L.A. Dodgers guide to personal finance…
“I’m tired of hearing about money, money, money, money, money. I just want to play the game, drink Pepsi, wear Reebok.”
“Hard work beats talent when talent fails to work hard.”