Eagles' Vick gets endorsement deal with Nike
By Mike Jensen
Inquirer Staff Writer
Michael Vick has his first endorsement deal since returning to football - with Nike, the same company that had paid the Eagles quarterback millions before he went to prison. "He's had a long-standing relationship with Nike," Vick's agent, Joel Segal, said in a telephone interview yesterday. "He is looking forward to working with Nike now and in the future."
Segal, who negotiated the deal, declined to talk about terms. According to a source, Vick will wear Nike shoes and apparel. As of now, there are no plans for another signature Vick shoe, as Vick had before pleading guilty to federal charges stemming from his involvement in a dogfighting business and serving 18 months in prison.
This is a fascinating turn of events because Nike had cut its ties to Vick in August 2007 after he pleaded guilty. When Nike first suspended Vick's deal, a company statement said it considers "any cruelty to animals inhumane and abhorrent." Nike reportedly had manufactured 30,000 Vick V shoes and dropped the shoe before distribution, costing the company a reported $1.5 million.
"Maybe they still have all those shoes that were on a boat when he got arrested," said Paul Swangard, director of the University of Oregon's Warsaw Sports Marketing Center. "I don't know if they're on the bottom of the ocean, or on children's feet in Honduras."
Nike first signed Vick as an Atlanta Falcons rookie in 2001. A spokesman for the company declined to comment last night.
Vick must pay. The U.S. Department of Labor announced that Vick has agreed to repay at least $416,000 that he is accused of illegally withdrawing from a pension plan.
The Labor Department said the payment settles a lawsuit against Vick for transfers from a pension plan sponsored by a marketing company he once owned that is now in liquidation. Vick was accused of withdrawing more than $1.3 million from the plan and using the money to help pay penalties imposed on him after his dogfighting conspiracy conviction.
Source
hiladelphia Inquirer
By Mike Jensen
Inquirer Staff Writer
Michael Vick has his first endorsement deal since returning to football - with Nike, the same company that had paid the Eagles quarterback millions before he went to prison. "He's had a long-standing relationship with Nike," Vick's agent, Joel Segal, said in a telephone interview yesterday. "He is looking forward to working with Nike now and in the future."
Segal, who negotiated the deal, declined to talk about terms. According to a source, Vick will wear Nike shoes and apparel. As of now, there are no plans for another signature Vick shoe, as Vick had before pleading guilty to federal charges stemming from his involvement in a dogfighting business and serving 18 months in prison.
This is a fascinating turn of events because Nike had cut its ties to Vick in August 2007 after he pleaded guilty. When Nike first suspended Vick's deal, a company statement said it considers "any cruelty to animals inhumane and abhorrent." Nike reportedly had manufactured 30,000 Vick V shoes and dropped the shoe before distribution, costing the company a reported $1.5 million.
"Maybe they still have all those shoes that were on a boat when he got arrested," said Paul Swangard, director of the University of Oregon's Warsaw Sports Marketing Center. "I don't know if they're on the bottom of the ocean, or on children's feet in Honduras."
Nike first signed Vick as an Atlanta Falcons rookie in 2001. A spokesman for the company declined to comment last night.
Vick must pay. The U.S. Department of Labor announced that Vick has agreed to repay at least $416,000 that he is accused of illegally withdrawing from a pension plan.
The Labor Department said the payment settles a lawsuit against Vick for transfers from a pension plan sponsored by a marketing company he once owned that is now in liquidation. Vick was accused of withdrawing more than $1.3 million from the plan and using the money to help pay penalties imposed on him after his dogfighting conspiracy conviction.
Source
hiladelphia Inquirer
