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Old 09-20-2012, 07:13 PM  
tk13 tk13 is offline
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Vince Young out of the NFL, out of money
http://www.cbsnews.com/8301-400_162-...-out-of-money/

There's a lot more to it, but a couple excerpts:

Quote:
Six years after entering the NFL as the third player taken in the draft, Vince Young finds himself without a team and with just a fraction of the money he received from a contract that guaranteed him $26 million.

The question is, where did it all go?

In an increasingly caustic war of words, attorneys have been arguing for months over whether Young is an out-of-control spender who put himself deeply in the hole or simply a victim of inexperienced advisers, one of whom was his own uncle.

Either way, the quarterback whose future seemed unlimited after he led Texas to a Rose Bowl victory in 2006 is now back home in Houston and in a tenuous financial condition.

"I would just say that Vince needs a job," said Trey Dolezal, Young's attorney, when asked to give a general assessment of his client's finances.

-----

"This is a person scrambling helplessly and pointing in all directions to blame others to get out of debt," said Charles Peckham, Adams' attorney.

Adams twice wrote checks to himself from Young's accounts, but both times were out of necessity, including once when the agent was required to use personal funds to charter a plane for the quarterback after he missed a team flight, Peckham said.
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Old 09-20-2012, 10:48 PM   #31
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Old 09-20-2012, 10:49 PM   #32
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he can float around Austin getting people to pay for his meals and drinks and get free pussy the rest of his life. piss broke or not, he's still a National Champion. i'd trade in my 9 to 5 to be a free loading champion in a heartbeat.
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Old 09-20-2012, 11:03 PM   #33
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The ****?
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Old 09-20-2012, 11:37 PM   #34
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Old 09-20-2012, 11:39 PM   #35
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BHIFAL?
Kinda ironic that that looks like "Big Fail" to a dyslexic person...
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Old 09-20-2012, 11:58 PM   #36
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If I had 26 million to play with, I sure as heck wouldn't be drinking Remy. They make/made a very fine limited edition cognac, but come on. Millionaires drink Hardy or Delamain, for crying out loud. This writer is an embarrassment to elitists everywhere.

As for Vince, it's sad because the league offers these fairly extensive classes to rookies about how to protect their money. Based on his Wonderlic, I guess Vince and class don't mix, though.

I have had the opportunity to meet a couple of guys who manage investments for sports figures and I can certainly understand why some of them go broke. I've mentioned this before, but they were far more interested in where we were going for drinks after the meeting than what the investment was going to accomplish for them. I suppose when it's SEM, it's easy to check your austerity at the door. That part of this is really a shame. Some of these guys really do fall prey to some heartless, selfish bastards.

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Old 09-21-2012, 12:02 AM   #37
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There's just no way of knowing with certainty how a 21 year old kid will react once you throw him instant millions. A lot of these guys lose their competitive edge and desire once they have "made it".
I'm pretty sure that I would have done an astounding amount of drugs and wound up dead.

Vince is alive. Could be worse.
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Old 09-21-2012, 12:07 AM   #38
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I'm pretty sure that I would have done an astounding amount of drugs and hookers and wound up dead.
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Old 09-21-2012, 05:26 AM   #39
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Originally Posted by FAX View Post
As for Vince, it's sad because the league offers these fairly extensive classes to rookies about how to protect their money. Based on his Wonderlic, I guess Vince and class don't mix, though.
Yep. He's probably been surrounded by yes men and asskissers his entire life and just assumed that the good times were always gonna roll and the money would just always appear because he was so talented.

I can't even fathom 26 million. If he's broke after 6 years it's like spending ~$360,000 per month. I don't even know if I could do that even if I tried.

Can't feel sorry for these athletes that go broke...he can blame whoever else he wants but ultimately it was his decisions that led him to where he is.
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Old 09-21-2012, 05:42 AM   #40
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Yep. He's probably been surrounded by yes men and asskissers his entire life and just assumed that the good times were always gonna roll and the money would just always appear because he was so talented.

I can't even fathom 26 million. If he's broke after 6 years it's like spending ~$360,000 per month. I don't even know if I could do that even if I tried.

Can't feel sorry for these athletes that go broke...he can blame whoever else he wants but ultimately it was his decisions that led him to where he is.
I don't know ... I hear this a lot. But, you might be surprised (or perhaps not) how easy it is to spend 20 million bucks when you're living large, Mr. PhillyChiefFan.

Let's forget about taxes for a minute ... you can spend 5 to 10 million on a house (easy), 2 million on cars (easy), if you're into jewelry and clothes, you can quickly burn through another million in a couple of shopping trips. Then, there's entertainment and trips and luxuries like chartered air travel, hotel suites for 5 grand a night, and toys of all sorts. Then, there's cocaine. A decent cocaine habit can run a guy many thousands a week keeping himself and his friends so high they have no idea what they're spending.

And, of course, if you happen to have a whack woman around and you give her some credit cards, you can easily and quite rapidly experience the joy of seeing at least half of everything you have zip out the door before you can say, "Why do you need 400 pairs of shoes?" as she enjoys the good life purchasing everything else in sight. I once knew a girl in LA who spent 12 grand on a one-off, designer dress she wore one time. Of course, she had to since all her friends would also be attending the event.

I've known guys who hit the big time and, within a year, lost everything. The way America is set up, they make it very, very easy to spend enormous gobs of cash very quickly.

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Old 09-21-2012, 08:00 AM   #41
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Old 09-21-2012, 08:04 AM   #42
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Wonderlic was correct Apparantly.....
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Old 09-21-2012, 08:07 AM   #43
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Its funny how much they spent at TGI Fridays. WTF????
Who could blame him really? That Jack Daniels grill is delicious.
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Old 09-21-2012, 09:43 AM   #44
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He needs to go to the CFL.
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Old 09-21-2012, 10:12 AM   #45
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If he has no heart , as some here have stated, why would anyone hire him for a roster spot. Maybe QB coach in TX?
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