Vince Young is broke

[ThomasTomasz]

DALLAS -- Former NFL quarterback Vince Young is downplaying what he calls "unfortunate" financial problems caused by the "betrayal" of trusted advisers.

"Yes, I need a job, who doesn't. Yes, I want to be out there playing the game I love and earning a paycheck, who wouldn't?" Young wrote on his Twitter account Wednesday.

Young has been out of a job since he was cut by the Buffalo Bills in August. The tweet came after an Associated Press story detailed a series of legal entanglements over his finances and quoted his attorney as saying of the former Texas star's financial status: "I would just say that Vince needs a job."

Young, who received a contract that guaranteed him $26 million when the Tennessee Titans made him the third player taken in the 2006 draft, also wrote that he is working to rectify financial losses "which stemmed from betrayal by those I trusted most."

Young is suing his former agent, Major Adams, and a North Carolina financial planner, Ronnie Peoples, claiming they misappropriated at least $5.5 million of his money.

Young also alleges that the pair took out a loan for nearly $1.9 million in his name without his knowledge during the NFL lockout in 2011 and kept the proceeds for themselves.

The lender, Pro Player Funding LLC, has obtained a judgment against Young for the balance of the high-interest note, a sum of nearly $1.7 million.

Young was the first client of a company formed by Adams, a Houston criminal defense attorney, and the quarterback's uncle, Keith Young, a former middle school teacher.

Attorneys for Adams and Peoples claim their clients have done nothing wrong and that Young's spending habits have put him deeply in debt.

The Twitter message is the first public comment on the matter from Young, who has declined interview requests.

http://www.virtualsportsnetwork.com/forum/newthread.php?do=newthread&f=13

:dd:

 

[MrBill]

I have little sympathy for those guys that buy 10 Ferrari's and a couple of mansions before losing everything but I do feel bad for somebody like Young who gets betrayed by those he trusted with his money.

 

[Chrispy]

I have little sympathy for those guys that buy 10 Ferrari's and a couple of mansions before losing everything but I do feel bad for somebody like Young who gets betrayed by those he trusted with his money.

Who says they really did though? That he is saying but we don't know. If true that is sad, if not then I have no sympathy for him.

 

[ram29jackson]

Who says they really did though? That he is saying but we don't know. If true that is sad, if not then I have no sympathy for him.

oohh Chrispy,Chrispy, Chrispy

your banner is just sooo cheesy :smh: for shame, for shame

 

[Maynard]

he is claiming they took out a high interest loan in his name without his knowledge and pocketed the money. If that were true it would be criminal, but there is nothing saying they are being charged with a crime. sounds like Vince is poor money manager.

 

[krulmichael]

/sarcasm

 

[dave]

It's easy to bash Young and the other guys who lose all their money, but most of us look at money and life way differently than elite pro athletes.
They're young, think they're invincible and trust the people around them.
And, don't tell me at 22, you wouldn't buy crazy shit if you just got a cheque/check for $25 million.

What did Young score on his Wonderlic? 4?

Clearly, he got robbed ... trusted the wrong people.

 

[krulmichael]

What did Young score on his Wonderlic? 4?

 

[dave]

You know, Krul. I don't even think it's funny to pick on the guy.

Clearly he's stupid ... but he's still a human being.

It's not his fault he's stupid ... genetics are a bitch.

And I'm not being sarcastic. It's easy to pick on a guy like this in a situation like this ... but a guy like Vince Young had no clue how to handle money or fame. Hell ... smart people barely know how to handle it.

Look at someone like Amanda Bynes ... grew up in the spotlight and still can't handle it.

 

[krulmichael]

You know, Krul. I don't even think it's funny to pick on the guy.

Clearly he's stupid ... but he's still a human being.

It's not his fault he's stupid ... genetics are a bitch.

And I'm not being sarcastic. It's easy to pick on a guy like this in a situation like this ... but a guy like Vince Young had no clue how to handle money or fame. Hell ... smart people barely know how to handle it.

Look at someone like Amanda Bynes ... grew up in the spotlight and still can't handle it.

Checking out those Yahoo! articles I see. :kobe:

 

[dave]

Checking out those Yahoo! articles I see. :kobe:

Not really.

I was just stunned seeing Amanda's mugshot pics after lusting after her pre-mugshot pics.

 

[KINGOFOOTBALL]

26 million guaranteed. You can't possibly be that stupid as to not have bought a home outright under someone else's name or stored a huge wad of cash somewhere.
If 17 year old rappers can say thats what they would do then you are tennis racket stupid.
Getting robbed is sad sure...but 26 million.... It's retarded how much you'd have to fuck up to lose that much money.

 

[MrBill]

I think the amount he would have seen after taxes and agents fees would have been around $10-11M (IRS $13M, Agent $2.6M). Still an insane amount of money but much easier to make disappear.

 

[Golden Taters]

What about all the money he made from endorsements?

 

[dave]

What about all the money he made from endorsements?

Endorsements? Really?

 

[Golden Taters]

You know what I meant

 

[krulmichael]

What about all the money he made in college? :troll:

 

[Blick]

Dude was retarded.

How did Vince Young go broke after earning $26 million in six years of professional football? Cars? Trips? Houses? Women?

As Clay Tavis details, the former Tennessee Titans quarterback had a more lowbrow, deep-fried road to the poorhouse: He spent thousands of dollars per week at chain restaurants.

Folks in the Nashville area helped piece together Young's squandered wealth during the3-Hour Lunch radio show this week. Among other tales, they report the University of Texas legend spent as much as $5,000 per week at Cheesecake Factory during his rookie season.

Five thousand. Per week. At a place with appetizers for $7.99.

A buddy of mine waited tables at Cheesecake for years. He served a number of famous people and large groups and estimates that the biggest tab he ever saw was $1,400 from a 20-person group. Even if Young brought the entire Titans offense out to eat, getting to $5,000 per week is mind-boggling. It's not like there's $90 steaks and $250 bottles of wine on the menu to help rack up tabs, you know?

Other amazing, hard-to-believe rumors: Young once spent $6,000 in a single sitting at T.G.I. Fridays, he paid a kid $200 to carry his luggage at the airport and he'd do $600 shots of Louis XIII de Remy Martin at Morton's after games. It's the last one that's most appalling. Shooting, rather than sipping, a fine cognac is like putting ketchup on Kobe beef. Or, more appropriately, spending $6,000 at T.G.I. Friday's.

http://content.usatoday.com/communi...-how-to-go-broke-70000817/vince-#.UFwMhY2PVSR

 

[KINGOFOOTBALL]

I was expecting diamond encrusted hoes and strippers......not cheesecake and Remy Martin.
Not buying the 200$ luggage story, everybody knows black people don't tip.

 

[Tailback U]

This is sad but it's also kind of funny.

Not gonna lie if I was making millions when I was 22 I'd be flying my friends out to Vegas a LOT and who knows how much money I'd be spending.

I'd have set aside a good amount to make sure I was safe but yeah I'd be dropping thousands at restaurants and strip clubs no doubt about it. I like to party.