When the 2006 season began, football player Michael Vick had it all. The #1 pick in the National Football League's 2001 draft, he had become an all-pro as quarterback for the Atlanta Falcons. Vick's endorsement income from contracts from Nike, EA Sports, Coca-Cola and other top corporations had earned him 33rd place on Forbes' list of Top 100 Celebrities in 2005.

During the 2006 season, however, Vick's image began to change for the worse. A well-publicized finger gesture to the Falcons' fans during the season was a harbinger of the devastation to follow.

In April of 2007, all hell broke loose when Vick was accused of operating a six-state dog fighting ring based from his notorious Bad Newz Kennels. Further details, including the accusation that Vick personally executed one of his dogs, disgusted the American public and sent his endorsement deals down the drain.

After admitting his guilt in a plea deal, Vick was recently sentenced to 23 months in a federal kennel. Although prosecutors recommended a shorter sentence, the judge overrode their request due to Vick's lack of promised cooperation. As a result of his conviction, his financial empire has also collapsed, and his future earning potential looks as bleak as O.J.'s. Vick agreed to return nearly $20 million of his signing bonus, and banks are after him to return more than $4 million in business loans.

Animal lovers can take some solace that, even from the grave, the dogs Vick tormented managed to bite him back.

Be sure to check out other Money Losers of 2007.

In 2004, Atlanta Falcons' quarterback Michael Vick signed a 10-year, $130 million contract that assured fans his unique combination of running-back elusiveness and speed and rocket passing arm would lead the team for years to come.

Then came the dog-fighting scandal. Now, with Vick's career in ruins and facing a stretch in the slammer, the Falcon's are applying the coup de grace, suing to recover almost $20 million in bonus money paid to him at the time the contract was signed.

The measure was approved by the NFL's Special Master Stephan Burbank, who is charged with resolving league/union disputes. It sets a new and dangerous precedent for the players. While almost no one (thankfully) is speaking up in defense of Vick, the league is rife with players that have transgressed in other ways; drug use, drunken driving, and sexual peccadilloes, for example. The notion that the players could not only lose future employment, but also be forced to repay money already received, will be sobering. The league hopes.

The NFL Player's Union is appealing the decision, as one might expect. Either way, I'd guess in the future player's agents will demand signing bonuses be constructed to safeguard their clients from such reversals.

Suspended Atlanta Falcons quarterback Michael Vick's best chance at public redemption lies with Oprah Winfrey. At least that's the conclusion of Detroit Free Press columnist Drew Sharp, who makes a convincing argument that "now that pop culture dictates news judgment, it's only appropriate that a pop culture diva quite possibly holds the key to Michael Vick's NFL future."

Vick should take Sharp's advice. If Vick goes on Oprah, his handlers would no doubt encourage him to cry, talk about "finding Jesus" and encourage young people to make smart decisions. Unfortunately for Vick, the road to redemption starts with the talk show queen. Vick will have to spend the next few months apologizing until the American public is sick of seeing his face.

The question for Vick's handlers is where to go after Oprah.

Will he try to reach NFL fans through Walt Disney Co.'s (NYSE: DIS) ESPN cable network or News Corp.'s (NYSE: NWS) Fox?

What about the morning shows? You can bet that ABC, General Electric Co.'s (NYSE: GE) NBC and CBS Corp. (NYSE: CBS) would kill to land an interview with the disgraced athlete. "Dateline" and "60 Minutes" are probably working on stories about the evils of dog fighting. The story also continues to be the gift that keeps on giving for Time Warner Inc.'s (NYSE: TWX) CNN, Fox News channel, and MSNBC.

But I am not sure that all of the apologizing in the world can save Vick's NFL career. People understand that young, rich athletes misbehave and occasionally break the law. But Vick's behavior was so heinous that it defies explanation.