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Falcons Salary Cap: Atlanta Receives $3 Million Credit, According To Report

According to a report by ESPN's Adam Schefter, the Atlanta Falcons received a $3 million credit to their salary cap back in March because of the money that former quarterback Michael Vick owed the franchise after he declared bankruptcy following his conviction for dogfighting.

The report indicates that the Falcons had been pursuing the credits since Vick signed his lucrative extension with the Philadelphia Eagles that included $35 million in guaranteed money.

Vick's contract with the Eagles meant he would be well positioned to clear all of the creditors listed in his original bankruptcy, of which the Falcons were the biggest.

Vick owed the Falcons $7.5 million through his bankruptcy repayment plan but it is unknown how much the franchise might have actually received from its former quarterback.

For more on the Atlanta Falcons and their salary cap situation head over to The Falcoholic. For more news and notes from around the NFL check out SB Nation's NFL page.

Photographs by coka_koehler used in background montage under Creative Commons. Thank you.