Vince Young is Broke. His Rookie Contract in 2006 Included $25.7 Million Guaranteed
Vince Young is virtually broke, according to the Associated Press. His agent told the AP, “I would just say that Vince needs a job” when asked about the QB’s finances. Young was released last month by the Bills.
Ready for a sob story? Before you read the rest, remember: Young signed a 5-year rookie contract in 2006 – five months after one of the greatest performances in college football history – that gave him a guaranteed $25.7 million.
"Young is suing his former agent, Major Adams, and a North Carolina financial planner, Ronnie Peoples, alleging that they misappropriated $5.5 million. In some instances, the pair forged his signature or impersonated him on the phone or in emails, according to the lawsuit, filed in Houston in June. The suit was filed five days after a New York lender notified Young that a loan of nearly $1.9 million obtained in his name during the NFL lockout in 2011 was in default. Young is now seeking to stop the lender, Pro Player Funding LLC, from enforcing a judgment of nearly $1.7 million, claiming he wasn’t involved in obtaining the loan and that the proceeds went to Adams and Peoples."
So he didn’t piss his money away. Young was, allegedly, swindled. Well, unless you believe the other side: “Pro Player says its case is supported by the fact that Young’s signatures were notarized and that emails show he was involved in making sure the lender received repayment directly from the Eagles..” This one could get ugly.
Previously: Terrell Owens is Broke, After Playing 15 Years and Making $80 Million