Vince Young is broke

AP

Six years ago, quarterback Vince Young became the third overall pick in the draft, signing a contract with the Titans that paid him $26 million.

Now, Young is out of the NFL — and out of money.

I would just say that Vince needs a job,” attorney Trey Dolezal told the Associated Press regarding Young’s financial situation.

Young has sued his former agent, Major Adams, and a financial planner, Ronnie Peoples.  Young claims that they misappropriated $5.5 million, via forged signatures and impersonated phone calls and emails.  Young also alleges that a $1.7 million lockout loan in 2011 was obtained in his name by Adams and Peoples.

“They conspired to take Vince’s money,” Dolezal said.  “It’s that simple.”

Regardless of where the money went, the money is gone.  And Dolezal thinks Young was dumped by the Bills because of the financial issues.  “I wasn’t in the room when [the Bills] made a decision, but what would you think?  It certainly wouldn’t help me if I’m the owner or the head coach knowing all this is going on with Vince and then he goes out and plays poorly,” Dolezal said.

The Bills declined comment on the reasons for cutting him.  Regardless of the reason(s), the Bills didn’t want him — and no one else does, either.

82 responses to “Vince Young is broke

  1. jamarcus russell is next,

    his agent who robbed him or his “family” should let him know get off his behind and find a gym quick

    better make it a comeback like LL cool J ,

    or hes next

  2. What a shame. The dude blew through almost $30 mil in career earnings. I’m certainly not going to say he’s lying in these lawsuits but blowing through $30 mil…..you aren’t getting any sympathy from me.

  3. What happened to the other ~19mil Vince? Amazing these guys go broke. Give me 1mil, I will live comfortably the rest of my life. Hey, I might finally have time to take up a hobby.

  4. I wonder if Vince would still be a starting qb had he not had that meltdown in Tennessee. I also wonder if Chris Johnson misses Vince…

  5. I’m not sure who his agents are or how he became associated with them but its a shame when you can’t trust these people. That being said, he also needed to keep a better eye on the money coming in and out of bank account. Very unfortunate.

  6. Too bad – lots of players get ripped off by slick talkers, and given Vince’s Wonderlic performance, he was probably a prime target.

    I don’t buy the speculation about the release by the Bills – if his play was better, he’d likely have a job in the NFL even with his financial issues.

  7. I could see this happening he spends all his money. I live in Houston and i see him drive his custom made Farrari all around town. I also worked at the place he had his signing party at he probably dropped close to 100 grand on that party. This is before he signed that contract. If he was to get hurt before he would’ve been screwed.

  8. 5.5+1.7=7.2

    What happened to the other 18.8?

    When did living within your means become so uncool? “I guess it’s not how much you make, but how much you spend.”

  9. That’s ashame. These players need to call a financial advisor that they can trust and that have good character. Or ask people that .you trust for recommendations. Or buy silver.
    I wish I had a million bucks, I could live off that and help others also.

  10. Its always someone elses fault. This players are to dumb to screw this up by themselfs.Once and idiot always an idiot.

  11. If 2.6 M of the 26M that VY earned went to his agent, 8m goes to uncle Sam, 7.2 has been robbed as claimed, where is the rest of ~8M plus his earnings in Philly not to mention his roster bonus for not playing for the Bills. This guy has screwed up something.

  12. Well at least Vince Young has his brain and the degree to fall back on now that his athletic career. It’s a good thing he took full advantage of the free educational opportunities at Texas and stimulated his brain.

    Oh wait…

  13. I will never Know, because I will never sniff that much money ever. But how in the hell do you not know what is going on with your money? I could live 26 lifetimes with that money, and have enough leftover for my grandkids. What do you need? 3 bently’s and 2 Lamborghini’s??? Is having “clout” that important? I mean, c’mon, 26 million over 6 years just gone? I wish someone would donate me 26 dollars…. My gas tank is hurting

  14. S-H-O-C-K-I-N-G!!!

    Probably spent it all on “Dream Team” licensing last year in preparation for the Super Bowl run…..oops

  15. And he thought he was being smart when he made his uncle his agent on his rookie deal, lol.

    Didn’t see this one coming.

  16. He’s got Bengal written all over him, as indifferent as I am to that. He could sign for the minimum as a 3rd stringer and I wouldn’t be insanely mad about it.

  17. “Is he famous people broke or regular people broke?!?”

    Famous people broke. In regular people broke, you spend away all your money; in famous people broke, other people help you do it.

  18. I actually met VY downtown on Hertel in Buffalo. He’s a good guy who is personable despite others experiences. For everyone who wants to bash someone whose down, that says more about you than it does him.

  19. Oh and didn’t he get a free education too? He can get a job doing whatever else he I inspired to be. If that’s a lazy turd then I don’t know if he will have any luck.

  20. The 1.7 mil was a lockout loan so that doesn’t even go against the 26 mil! So he is suing Major Adams (the non-agent agent that he used) for 5.5 mil because he is broke. Which means VY blow the other 20.5 mil all by himself!!! I don’t feel sorry at all for that bozo!

  21. I don’t feel bad for anyone that loses that much doe…but everyone killin him on it is typical message board garbage. Guys don’t have a clue about what you would do with that much $ and fame and a ton of other things. No excuse but don’t think you know what its like unless you walk in his shoes.

  22. Not making excuses for Vince, but for all of you mathematicians posting “where did the rest of the money go?” If a guy gets 26 million, it’s safe to assume that about 10 million of that went to the tax man. Ya can’t blow what ya never had. Ya it’s a lot of money, but a lot of money equals a lot of taxes…..stil ridiculous to blow like 15 Mill though.

  23. A man once told me, “Fella don’t know broke til he’s sneakin’ in the woods and poopin’ in a bucket.”

    It’s not exactly wisdom, and it don’t exactly make a whole lot of sense…..but in this instance, I felt it was appropriate.

  24. Alright, if you are pocketing $26M+, why do you need a financial advisor? Buy a home, buy a couple cars, put the rest in the bank and manage a checkbook like an adult. Seriously, $26M isn’t enough money that you’d give some random schmoes power over it all? Dude is braindead.

  25. Its crazy how these athletes that work so hard since high school to college and finally get to their dreams in the nfl (bust or not) and blow MILLIONS of dollars and end up broke..i will never get it,just terrible with money i guess.

  26. Listen for all you people that have come into money or are new to having money. It GOES QUICK ! It doesnt matter how much you have Only TRUST people you know VERY well who you have known to be thrifty and careful with money. Family can rip you just like anybody else Be Generous and kind only to people who you are fond off but make sure they can handle your gift Think about it DONT BE NOT STUPID
    It pisses me off when i see people getting ripped off. Spend it enjoy it by all means but dont let others do it for you PLEASE

  27. I could live on his one signing bonus the rest of my life…..However, I could see where my wife could blow that fortune and I’d be broke the minute I was out of a job, so I understand his plight….to a point….

  28. Gee, what a surprise. At least he had his 15 minutes. I mean, in what other country could you earn $30 mil over several years while sporting a child-like IQ? No disrespect to Vince, but I honestly think he was lucky to earn that much.

  29. Another reason why the NFL should make rookies attend class on how to manage money. Most players have no clue how to do this. They are young, most were poor or middle class backgrounds. Maybe he needs to sell his cars, his bling bling and everything else. Buy a smaller house and GET A JOB like the rest of us. I do not feel sorry because you blew all of your money. Live within your means and quit showing off.

  30. 5.5+1.7=7.2

    What happened to the other 18.8?

    ——-

    Taxes take about 39%, the agent 10%, insurance on the contract another chunk. So even if he was never forced to take a pay cut, he only ever saw about $13M of his original $26M contract.

    The guy’s obviously made horrible choices, but if you’re gonna do math, do it right.

  31. Maybe it just me, but what happened when putting cash under or inside your mattress for rainy days? That what my mother showed me. Why put all your eggs in one basket or allow others to watch your money. I am a grown a** man, I can watch my own money. How many previous jocks been taken from investors?
    Fools will be fools…I guess he did not listen while he was a rookie when the veterans was educating of what and what not to do with your money. At least I know he will not harm himself while being broke.

  32. I have read several comments and I felt I should pass on the advise my dad once gave me. “Its not how much you start with its how much you end with”. Very appropriate indeed.

  33. doubledogcatch says:
    Sep 18, 2012 11:29 PM
    It would be refreshing to hear about a draft bust that saves his money and is doing well after football. ___________________________________ That would be Jamarcus Russell.

  34. maybe he just should of dealt with the situation in tennesee instead of causing problems. i mean statistacly thats where he was at his best but no he had to much faith in his ability and decided to go somewhere else, not a smart move. just hold your tongue and grit your teeth, and be happy youre making money. is what he shouldve done.

  35. csilojohnson says:
    Sep 18, 2012 10:56 PM
    What happened to the other ~19mil Vince? Amazing these guys go broke. Give me 1mil, I will live comfortably the rest of my life. Hey, I might finally have time to take up a hobby.

    Well maybe you could, but more likely no you couldn’t. It used to be a lot of money, not so much now. You’d have to be really, really frugal.

    I contrast all of this with Alex Smith who got off to a rocky start to say the least but chose to drive a Honda Accord his first few years instead of a Ferarri or AMG Benz. Not sure what he drives now but wouldn’t be surprised if its still an Accord. He’ll have money when he retires.

  36. My work has its own credit union, why doesn’t the NFL? Here’s an idea, put your money in a bank rather than giving power of attorney to these “I’ll double your money” con artist financial advisors.

  37. If he’s that broke, he should just hang out on the University of Texas campus and give students piggyback rides to class for $20 a pop. There you go, problem solved. Now stop bitching.

  38. One cannot just give carte blanche to a financial advisor or agent. If he had any smarts at all, he would have kept better track of his money. And the Bills would nver have cut him if they felt he could help them win. Pro football owners keep felons on the books like Michael Vick and Ray Lewis because they feel they have talent. Vince Young’s talent has disappeared.

  39. Vince, you messed up man! Just because you have millions don’t mean you have to spend it all. House, car, food and money for family. Of course you want to have fun too, and that’s fine. But jeez man, you spent 26 million. And what you got to show for it? All you need is a freaking checking account. SMH

  40. Also, use your brain, fellas. Of the $29 million, VY ended up seeing about $12 million in actual cash (at most) after taxes, agent fees, lawyer fees, etc. Assuming the accusations are true, he should still be a millionaire, able to afford to pay down loans on whatever he spent the other half on. Get off your poorly made soap boxes and relax.

  41. Young should be more sympathetic toward those dudes that allegedly impersonated him. After all, Young himself impersonated an NFL quarterback for several years.

  42. No one should judge another. I would ask Vince to understand that every choice has a path, every path has experiences, every experience has lessons, and every lesson learned has a blessing. Learn your lesson and move forward. Good Luck.

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