FanNation - The Republic of Sport

Why would a man making $50 million a year with endorsements need a line a credit worth $2.5 million?

he lost all that.

You're questioning Micheal Vicks intelligence? I think it is safe to say that he isn't running with much so this doesn't surprise me at all. And I would wager a bet this won't be the only time we hear something like this. I just really wish they would quit posting things about Vick. He done, he's gone, let us enjoy the moment for Pete's sake, quit throwing his face up here everyday with "who cares" articles about him.

cdadoe... where are you... Vick needs ****-kissing... sorry... your support!!

he didn't do it cdadoe!!!.... Vick is innocent of all charges... the bank is just suing him because he's black!!!!

Sounds like Vick is way in over his head in a lot of ways.

two words....

money laundering...

What am I gonna do with 30 subscriptions to vibe?

It's not about being broke or not. The super rich operate in a diffrent realm than the rest of us. They get credit of anything, so they dont have to use their own money. When you have multi-millions of dollars, you can actually make money by not spending your own. I'm willing to bet the interest on his savings way offset the interest charged to the line of credit. He wasnt banking on losing everything when he took the line out.

Chaz are you super rich and we did not know it? If so, I need a loan....there is this really cool boat I want. It is for deep sea fishing... Oh yeah I am supposed to be talking about Vick aren't I.

EVERYBODY is jumping on this train eh? I don't feel bad for him, but really, how many people are going to come out of the woodwork to take a chunk out of this guy?

Well I heard on the radio that they are looking at him now b/c he was at some funeral of someone murdered involved in dogfighting.

Just let him crawl in a corner and die somewhere so we can stop hearing about this discrase to human life

Chaz, never thought of it that way. Can you handle my 401k?

Since all this outrage about animal cruelty is still going on here is an article that i'm sure most of you have never heard about. I am willing to bet this doesn't get 1% of the coverage Vick gets. http://www.wistv.com/Global/story.asp?S=7129070
Where's Peta on this? Oh wait there's no celebrity involved.

gocanada........hopefully everyone and thier mother takes a chunk out of this "guy" if that what you want to call him.....soon he will be someones bit ch in prison. He deserves all that is comming to him.Let him rot in hell

Isn't it obvious, "off-shore banking" accounts ALWAYS = shannanigans!

KEELEE those people are just as sick and demented as vic.........................but, you are missing one key point. THOSE PEOPLE ARE NOT ROLE MODELS TO MILLIONS OF CHILDREN, AND ARE NOT NOT FACE OF A MULTI MILLION DOLLER NFL FOOTBALL TEAM. Ofcourse Vick is getting all the publicity because of who he is, thats part of the deal, you get paid millions and your in the public spotlight. THAT DOES NOT change the fact that he is a discusting, murderer with a sadistic mind.

Simply put, the bank is covering it's own [backside]. I guess they see the writing on the wall and know that his sources of income will be severely strained, and his ability to pay off the line of credit will go as well.

They'll be the first of many (c/r PacMan's house foreclosure). They wanted to try and get what they can first before he pays off someone else.

is the title incorrect? should it not be: vick defaults on bank loan?

WhoCares? : Don't i wish.

Texex: No problem. I used to run accounting for Enron.....

BTW - just re-read the article. Although it's a Canadian Bank (Royal Bank of Canada), the lender is it's American subsidiary, RBC Centara, which is big in the southeastern US.

So, the idea that this is a "foreign bank" deal (aka offshore banking) is a bit misleading.