Michael Vick sued by Wachovia Bank

And the hits just keep on coming for former Atlanta Falcons quarterback Michael Vick. Wachovia Bank has filed a lawsuit in federal court accusing Vick of defaulting on a $1.3 million loan for a wine store.

Vick and his partner in the venture are not behind on payments. Rather, the bank has determined that, due to the fact that Vick is no longer employed by the Falcons, he is technical defaults of the covenants of the loan. According to The Atlanta Journal-Constitution, this is not the end of Vick's financial woes: Royal bank is suing over a $2.3 million loan, 1st Source Bank says he owes $2 million, and the Falcons want $20 million in bonuses paid back.

Then there's the legal fees associated with his indictments on dog-fighting. All of that aside, it's hard to understand why Vick had himself so overextended to begin with. MIchael Vick had a 10-year, $130 million contract. Why would a professional athlete earning that kind of money need to be borrowing to open up a wine shop?

Perhaps the Michael Vick story will also turn into the M.C. Hammer story -- but the dog-fighting angle will make him a much less sympathetic figure, and a lot of people are just itching to dance on his grave.