When the NFL informed the 32 teams of their cap space for 2012, adjusted from the base amount of $120.6 million, the Falcons received another $3 million — thanks to one of their former players.
Adam Schefter of ESPN reports that the NFL gave the Falcons a $3 million credit via bonus money recovered from former starting quarterback Mike Vick via his bankruptcy case.
Vick was suspended by the league during the 2007 preseason, after he was indicted on multiple federal charges relating to dogfighting. The team did not release his rights, in part to preserve their eventual attempt to recover a significant portion of the bonus money he received. Vick ultimately owed the Falcons $7.5 million through his bankruptcy repayment plan.
The headline of the item at ESPN.com potentially creates the impression that the Falcons are receiving the credit now. They’re not. The Falcons got the credit in March; thus, it was included within our various reports regarding the cap space that the Falcons had.