Stories of athletes losing their millions are pretty common these days. But we usually hear these stories once said athlete retires. Vince Young, currently unemployed but not retired from the NFL, seems to have blown through $26 million – or close to it – in record time (6 years in the L.)
Young is blaming bad finanical advisors and is claiming he was taken advantage of. He’s suing his former agent, Major Adams, and 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.
There was a $1.9 million lockout loan that’s in default from Pro Player Funding LLC. Young claims he wasn’t involved in obtaining the loan and that the money went to Adams and Peoples. At a 20% interest rate! Yikes! But what about the rest? Here’s an alleged account of how some of those funds were spent.
- $600 shots of Louis XIII from Morton’s restaurants for his buddies.
- A story of how he once spent $6000 at TGIF. Yes, you heard me right TGIF.
- One time Vince wanted to be alone on a Southwest Airlines flight, so he bought all the tickets.
- He had a Cheesecake Factory addiction so he spent $5k a week there during his rookie year in Tennessee.
- They also mention a random story of Lendale White ordering 75 shots of Patron in 30 minutes
Bottle service will be the source of many of these current athletes demise. I’ve watch athletes drop $15,000 in a night to pop bottles and have fun. When traveling, they- or their professional friends – want to keep the party going so that means funding transportation, meals, alcohol and whatever else.
I’ve talked about the “me too” complex athletes have most likely stemming from competitive nature. Vet has a new car, a chain, a new girl. Rookie says that’s what makes me “the man” so I have to have that too…
Vince Young responded on Twitter yesterday claiming that his financial situation has been blown up by “the media.”