Vince Young is broke six years after signing a $58 million contract, with $26 million of it guaranteed, and his attorney backs up the claims and says the former NFL quarterback needs a job.
Young threw it all away, according to AOL’s Sporting News, and he liked to party and spend his money while seeking approval by the entourage that surrounded him.
Plenty of people tried talking to Young. He certainly got an earful at the 2006 rookie symposium, where the NFL makes draftees sit through four days of cautionary tales. Some of them talked about career planning, life skills, and ex-players spoke about where they went wrong to lose everything.
Young probably sat there smugly glancing down at his Ferrari owner’s manual. He believed the commercials that dubbed him “In-Vince-ible.”
That’s how you end up letting a friendly defense attorney become your agent and handle your investments. The other partner was Young’s uncle, a middle-school teacher with no business experience.
It seems the only good investment Young made was in the Austin restaurant. All he probably did was lend his revered name to it, but at least the joint is still in business.
“What’s happening with Young and his financial situation is disheartening, because even if he isn’t going to be the NFL quarterback he hoped to be, he’s still done enough on the football field (yes, through college and the pros) to never have to be in a position to worry about money again,” SB Nation reported Thursday.
They are right, it’s hard to imagine what the man is going through right now, but there are some that don’t feel sorry for him one bit.
There are so many professional athletes this year going broke, blaming it on bad investments, such as Warren Sapp. But still, how can a person blow $26 million to $80 million in only a few years? Sure, they all had big mansions, but those were mortgaged.
It’s hard to fathom how anyone, such as Young, could spend all of it in just a few years.