NORFOLK, Va. — Michael Vick’s revised bankruptcy plan will incorporate many of the suggestions made by a judge who rejected his first proposal, but will still be based largely on resuming his once-lucrative NFL career, a lawyer for the former Atlanta Falcons quarterback said Tuesday.
Attorney Paul Campsen told U.S. Bankruptcy Judge Frank Santoro that Vick and his advisers have made substantial progress on drafting a new Chapter 11 plan, but they need more time. Santoro scheduled another hearing for June 9, which will allow attorneys to meet with Vick in person after his May 21 transfer from a federal prison in Kansas to home confinement in Hampton, Va.
Santoro rejected Vick’s first plan earlier this month and ordered a more realistic one. He said Vick should liquidate some of his vehicles and one or both of the expensive homes Vick wanted to keep in Virginia — one for his mother, and one for himself, his fiance and their children.
“We’ve taken very seriously the comments the court has made,” Campsen told Santoro. He could not offer details about the new plan because discussions with Vick are continuing.
In rejecting the first plan, Santoro also had expressed concern that it was based largely on Vick’s return to the NFL. Santoro said there was no guarantee that NFL Commissioner Roger Goodell would lift Vick’s suspension after the former star completes his 23-month sentence for bankrolling a dogfighting conspiracy. The plan called for Vick to keep the first $750,000 a year that he earns, with a percentage of any amount over that going to creditors.
Meanwhile, the Albany Firebirds, an arenafootball2 franchise, have offered the 28-year-old quarterback a one-year contract at the league standard: $200 a week plus a $50 bonus for a win.
The Firebirds’ contract offer requires that Vick donate $100,000 to a local humane society.
A call to Vick’s agent was not immediately returned.