To Mike Vick or not to Mike Vick, that is the question, and the controversy that is surrounding athletic apparel giant Nike (NYSE: NKE).

Actually it isn't too much of a question, mainly because the company that once used Vick as a celebrity endorser dumped him and his products once he was arrested and charged with running a dog-fighting ring. Vick has spent his time in prison and has since been signed as a back-up quarterback for the Philadelphia Eagles.

Well, earlier this week Mike Principe (one of Vick's agents) announced that Vick had recently inked a deal with Nike. This announcement caused quite a bit of Internet backlash toward the Swoosh, but there were many that thought the deal was "bogus." (That quote is from a tweet by CNBC's Darren Rovell.)

Continue reading JockStocks: A look at the Nike/Mike Vick saga

JockStocks: A look at the Nike/Mike Vick saga originally appeared on BloggingStocks on Fri, 02 Oct 2009 12:10:00 EST. Please see our terms for use of feeds.

Before Michael Vick, quarterbacks were (mostly) tall, slow white men who passed the football, handed it off or got creamed by pass rushers. Vick changed the game by combining the strength, speed and agility of a running back with the arm and savvy of a quarterback. With it, he turned the traditional also-ran Atlanta Falcons into a contender. How could any company in the sporting goods field not sign such a sure-fire hall-of-famer as a spokesperson?

And sign him they did. Nike (NYSE:NKE) created a "Michael Vick Experience" ad campaign. He appeared on the cover of the 2004 version of Electronic Arts' (NASDAQ:ERTS) Madden football. The sponsor money rolled in, and when the Falcons signed Vick to a 10-year, $130 million contract, he had reached the pinnacle of sports success.

Then came the expose. News reports tying Vick to a dog fighting ring, then naming him as the pivotal figure in a horrendous gang who raised killer dogs in a kennel on Vick's property and buried the losers nearby. By the time Vick was taken into custody, his brand was so fouled that companies couldn't back away from him fast enough. The only sales of equipment with his name on it was to dog owners who used them as chew toys.

In a fiasco, everyone involved suffers. I just wish the everybody here hadn't included innocent dogs.

Read the entire series

Spokesperson fiasco #4: Michael Vick and Nike originally appeared on BloggingStocks on Mon, 21 Jul 2008 14:04:00 EST. Please see our terms for use of feeds.

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.

Money Losers of 2007: Michael Vick, or dog bites man originally appeared on BloggingStocks on Fri, 21 Dec 2007 08:10:00 EST. Please see our terms for use of feeds.