Vince Young is in poor financial shape. That much we know. The former Tennessee Titans quarterback blew around $60 million in career earnings and is now in a dispute with his former financial adviser. The adviser claims Young took out an extremely high-interest loan during the NFL Lockout because he needed finances. Young claims he didn’t really know what he was signing — that he was misled — and that his former advisers misappropriated around $5.5 million of his funds. It’s up to you to decide whom to believe in the the situation, but there is one part of the story that must be shared.
Young’s former financial adviser, Ronnie Peoples, says he arranged for Young to have a seven-figure loan taken out during the lockout because the quarterback had committed around $300,000 to spend on his birthday party and needed the money to cover the expenses, The Associated Press reports. Young’s birthday is May 18, 1983, so he would have been turning 28 at the time and probably had gone months without getting a paycheck since the NFL was in the offseason. $1.9 million was borrowed from Pro Player Funding, L.L.C., at 20 percent interest. Pro Player Funding is seeking reimbursement for the loan.
I don’t doubt that Young signed stuff he had no understanding of, but that’s probably because he thought he had limitless funds and didn’t care enough to pay close attention. He’s probably only claiming now he was misled because he’s lost it all and he never thought that would happen. Just look at his alleged spending habits around the Nashville area to understand what kind of spender he was.Google+