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Thursday, October 30, 2014

Vince Young is reportedly out of money, squandered roughly $60 million in earnings

Vince Young is reportedly struggling financially. Since he signed a rookie deal with the Titans out of college in 2006 that contained more than $25 million in guaranteed money, that is hard to believe. Young earned more than $30 million of that contract, and a recent report from the Associated Press reminded us that “60 Minutes” once ran a feature on him back in 2007 during which is was revealed that he had endorsement deals worth roughly $30 million.

Yet, somehow, he’s in big trouble with money. Young recently filed a lawsuit against his former agent, Major Adams, and a North Carolina financial planner named Ronnie Peoples, alleging that they misappropriated $5.5 million of his money in ways that included forging his signature and impersonating him in phone calls and emails.

“They conspired to take Vince’s money,” Young’s attorney Trey Dolezal said. “It’s that simple. He was just very young … and allowing these people to have too much control over his life and his name.”

Young filed the lawsuit less than a week after he was served papers from a New York lender informing him that a $1.9 million loan he took out during the NFL lockout was in default. Young was one of at least 10 players who utilized Pro Player Funding LLC for a cash loan during the lockout. His lawsuit also alleges that being served by Pro Player during training camp “played a role” in Buffalo’s decision to release him.

“I wasn’t in the room when they (the Bills) made a decision, but what would you think? Dolezal asked. “It certainly wouldn’t help me if I’m the owner or the head coach knowing all this is going on with Vince and then he goes out and plays poorly.”

Lawyers for Peoples and Adams claim that Young was aware of every financial decision that was made and that the lawsuit against them represents his unwillingness to accept responsibility for his actions, which they say is a characteristic of Young’s that former Titans coach Jeff Fisher — who had a couple of known clashes with the Heisman winner — and others would attest to.

Even if his financial advisors successfully stole $5.5 million from Vince, may I ask where the other roughly $50 million or so disappeared to? Perhaps someone like Allen Iverson could help us answer that question.



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