Tuesday, September 18, 2012

Another Millionaire Athlete Broke

You have to wonder where Vince Youngs financial advisers were.
From the San Francisco Chronicle:  Six years after entering the NFL as the third player taken in the draft, Vince Young finds himself without a team and with just a fraction of the money he received from a contract that guaranteed him $26 million.
The question is, where did it all go?
In an increasingly caustic war of words, attorneys have been arguing for months over whether Young is an out-of-control spender who put himself deeply in the hole or simply a victim of inexperienced advisers, one of whom was his own uncle.
Either way, the quarterback whose future seemed unlimited after he led Texas to a Rose Bowl victory in 2006 is now back home in Houston and in a tenuous financial condition.
"I would just say that Vince needs a job," said Trey Dolezal, Young's attorney, when asked to give a general assessment of his client's finances.
Young was cut by the Buffalo Bills, his third NFL team, in August. He was trying to make the Bills as a backup, the same role he filled with the Philadelphia Eagles in 2011.
The fall has been a dizzying one for the player who twice made the Pro Bowl with the Tennessee Titans. Young sent out a tweet thanking the Bills and their fans after he was released but hasn't spoken to the media since. He declined a request to be interviewed for this story.
Bottom line is that Young is responsible for for his problem.  He took an almost $2 million loan at 20%.  Who the hell does that?  
He joins the long list of pro athletes who have made millions only to lose by overspending or getting greedy or both.  While they may be great athletes they are quite few pancakes short of a short stack at the local IHOP.

1 comment:

  1. Sounds like his relatives helped themselves to the gravy and therre's nothing left for the dinner plate.

    How does one burn through so much so fast?

    ReplyDelete