Many have wondered how former University of Texas quarterback Vince Young could end up being broke after signing a massive NFL contract at the age of 23. Well, this latest story told by a former financial advisor of Young's may help shed some light on the matter.
Young, the quarterback who’s currently out of the NFL but was the third overall pick of the Titans in the 2006 NFL draft, is currently embroiled in a lawsuit with his former financial adviser. And that adviser testified that Young once took out a loan because he didn’t have enough money to throw himself the kind of birthday party he wanted.
Ronnie Peoples, president and CEO of Peoples Financial Service Inc., said in a deposition that between the end of the 2010 season and the start of the 2011 season, Young decided that he had to have a huge 28th birthday bash. And when Peoples told Young that he didn’t have the money, Young instructed Peoples to place a phone call to take out a loan.
Young reportedly dropped $300,000 on the festive affair. Yes, $300,000!
The lawyer for Young has disputed the allegation, of course. His lawyer claims that People's mismanaged the money of the former national champion.
Young has been publicly vying for another shot in the NFL lately, but hasn't had any luck in finding a team that is willing to give him one. This is probably because teams fear Young manages an offense about as well as he does his checking account.
Via NBC Sports