Vince Young says media blowing up financial woes

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.

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.”

 

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About Stiletto Jill

Sports Culture Analyst Stiletto Jill is from LA, with a background in marketing, PR, and business development. Jill’s resume includes stints at Nike, Sony Pictures Entertainment and Virgin Records.
Jill can be seen weekly on the web show, "The Break Room" and has made guest appearances on ESPN Radio andYahoo Sports Radio. Jill is also a media partner for YardBarker, FoxSports.com and MSN.com