Ex NFL Star Player Vince Young Goes Broke !! Files For Bankruptcy !!
Being The Star in Houston’s Madison High School, Texas University, & playing Pro Football with Titians, Eagles & Buffalo, Vince Young, Months ago, it was reported that Young was nearly out of money, despite once signing a contract that guaranteed him $26 million.
Now, he’s had to file for Chapter 11 bankruptcy, according to the Houston Chronicle. The paper reports that attorney Brian Kilmer filed a petition in a Houston federal bankruptcy court, listing Young’s assets worth between $500,001 and $1 million with liabilities between $1,001,000 and $10 million.
Over the last year, Young, 30, has been locked in a pair of lawsuits stemming from a $1.8 million loan obtained in his name during the 2011 lockout.
A New York state court has granted a judgment against Young to Pro Player Funding, a New York company that made the loan, which along with interest has grown to more than $2.5 million, according to a Pro Player attorney.
Pro Player Funding has made several efforts in a Harris County state district court to enforce collection of the judgment, but those efforts remain pending.
Young, meanwhile, had sued his former agent and financial advisor, saying they had attempted to defraud him by obtaining the loan from Pro Player Funding and then taking the money for themselves. Reportedly, an unannounced settlement has been reached in that case.
As far as his NFL career, Young said in October that he wasn’t sure why he didn’t have an NFL job.
“Me and my wife and all my peers and fans, we’re all trying to figure this stuff out,” Young said. “I don’t have the slightest idea. It’s like a huge question mark over my head every day I wake up in the morning to take care of my responsibilities and know I should be playing. To not have one of those calls, it’s tough.”
Credit Source: CBS Sports