Categories: First Down

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.”

 

Jill Munroe

Jill Munroe is a Los Angeles-based host, producer, and writer. You can find her work on sites such as FoxSports.com, EURweb.com, and MSN.com. Munroe is a current member of the African-American Film Critics Association and the National Association of Black Journalists. Munroe has also been a frequent guest on ESPN radio and Yahoo Sports. In 2015, Munroe released her first book, "PostGame Pass: access into "the life" JillMunroe.com

Share
Published by
Jill Munroe

Recent Posts

‘Reasonable Doubt’ Season 2 Hulu Tackles Friendship, Power & Secrets | Exclusive with Raamla Mohamed & Emayatzy Corinealdi

Hulu's *Reasonable Doubt* highly anticipated second season delivers a complex mix of courtroom drama, personal…

1 month ago

Frasier Reboot Season 2: How Olivia, Eve, and Roz Redefine Strong Female Characters | Watch on Peacock

The *Frasier* reboot on Peacock returns for its second season, bringing back the beloved character…

1 month ago

Puff Daddy, Hugh Hefner, and 70s Rock Icons: Two Sides of the Same Coin?

The lifestyles of music and media moguls, from rock stars of the 1970s to hip-hop…

2 months ago

Zoë Kravitz on Directing ‘Blink Twice’: Exploring Paradise, Danger, and Feminist Themes

Zoë Kravitz on Directing 'Blink Twice': Crafting Tension in Paradise Zoë Kravitz has stepped behind…

2 months ago

Diddy’s Explosive New Lawsuits: Drugging, Assault, and Voodoo Tattoo Connection

Sean "Diddy" Combs has found himself at the center of a storm, with new allegations…

2 months ago

“Seeking Mavis Beacon:” A Cultural Icon Who Was Never Real

The mystery behind Mavis Beacon, the face of the beloved 1980s typing software, has intrigued…

2 months ago

This website uses cookies.