Vince Young downplays his financial problems

AP

After posting earlier this week an item regarding the current financial predicament of former (for now, perhaps forever) NFL quarterback Vince Young, we saw several references to the fact that he responded to the situation on Twitter.  But we (or at least I) decided that it didn’t rise to the level of being post-worthy.

And then I checked the traffic figures, which proved that Vince Young still puts asses in seats, in the web sense.

So here’s what Vince had to say, via a stream of tweets.

“It’s a shame to see people revel in and rally around negativity in the media but I guess it’s to be expected,” Young said.  “Yes, I need a job, who doesn’t?  Yes, I want to be out there playing the game I love and earning a paycheck, who wouldn’t?   We are working to rectify some unfortunate [financial] losses, which stemmed from betrayal by those I trusted most.  But these rumors are disheartening and just untrue.  I’ll keep pushing through regardless.”

Here’s apparently referring to the “rumors” that he squandered millions, in part by dropping several thousand dollars at a time during visits to places like the Cheesecake Factory and T.G.I.Friday’s.  Coupled with Vince’s lawyer summarizing the situation by saying, “I would just say Vince needs a job,” the picture that’s painted is one of a guy who needs greenbacks.

It’s fair for Vince to address the fact that he needs a job by saying, “Who doesn’t?”  But the broader point, regardless of how much money he has left, is that Vince shouldn’t.  With millions paid out over the past six years, he should have enough put away that he doesn’t need to work.

If he was victimized by those he trusted, that’s unfortunate — and hardly uncommon.  The truly trustworthy managers of talent and handlers of money usually don’t swarm around these kids the way the unscrupulous ones do.  But if Vince was spending like there’s no tomorrow and he’s now in a tomorrow where he has little left to spend, he has only one person to blame.

22 responses to “Vince Young downplays his financial problems

  1. if this goes to court, this being the young lawsuit, we will find out if he was ripped off or if he squandered the cash.

    at some point though ssouldnt/doesnt the nfl sit the rookies down and say “open a savings/retirement account kid set yourself up before you set up your posse”?

  2. Serious financial planning classes should be mandatory in the NFL…and players actually have to pass the class before they get paid.

  3. Didn’t he have an uncle representing him? Major Harris? Maybe trusting that to a legit, experienced agent would be a better play. And what did he do at TGI Fridays – buy dinner and drinks for everyone in the place?

  4. Dropping huge amounts of cash at someplace like the Cheesecake factory wouldn’t make him broke. You could spend $5,000 every single day and “only” burn through 1.8 M in a year.

    It takes serious fraud and awful investments to really burn through tens of millions so incredibly fast (26 million salary + 30? M in endorsements, minus taxes and agent fees). That must be like 30M net, right?

    I think that financial management advice is part of rookie orientation. Most apparently sleep through it.

  5. Whether the league likes it or not, it is an embarrassment for them to see their former players talking about going broke. But for people who prefer to call these guy names like, “idiot” because they blew there money, folks lets remember that most of these athletes have had a privileged life since high school when it comes to been protected by their coaches or teams. Also, they are young and suddenly find themselves with money they could only dream off and moochers for family members.

    The best way for the league to help their players out, is to withhold 20 percent of their yearly checks and have teams implement a counseling program that is mandatory that helps all NFL player with financial counselings. After being retired from the league for 5 years, the money will be paid out to the former player in full, and they can still maintain contact with the financial counseling. If the NFL implemented such a program, i would be surprised if we hear anymore stories like this.

  6. helix828 says: Sep 21, 2012 9:47 AM

    If you sign a contract for 26 million dollars and find yourself broke, welp, you’re pretty damn stupid.
    ==================================

    I see this has one down vote. Vince, shouldn’t you be doing more constructive things with your time?

  7. Vince used some big words in those tweets. And spelled them all correctly.
    He must have enough cash left to hire someone to handle his press.

  8. As cruel as it sounds, hard to feel sorry for this guy, with all the chances he has been given. To many people can’t find a job and hurting just as bad that can’t get four and five chances. Same people don’t get all the attention from the media and life goes on for them as well. Hit the pavement as others if you are broke.

  9. And this guy passed all his classes at the University of Texas for years? Might need an investigation of that.

    By the way , no employer should be able to withold income from those who earned it. Should GE , Walmart , Ford be witholding money from employees because they might blow it all? Absurd. People are responsible for their own behavior and future. At least they always have been until recently.

  10. But we (or at least I) decided that it didn’t rise to the level of being post-worthy.

    Yet, you had no problem posting unverified rumors, at least other media outlets are putting in the disclaimer “allegedly broke or nearly broke”. When you file for bankruptcy or sue a agent for mismanagement don’t translate into being broke ask Donald Trump or Prince. Plus, the spending spree information has come from callers on a radio show. It is easy to knock a person when they are down, but as a Christian I can not gloat in others misery. I don’t feel sorry for him, just hope he has learned from is mistakes, take a page from the rapper/actor Will Smith. You can blow it once, but when you get another chance, dont repeat it.

  11. covercorner: The question is not whether Vince has the funds to buy Bankruptcy for Dummies. The question is whether or not he can read it.

  12. Well hes not gonna jump for joy, like all bros, he’ll down play it to the public, never admit the truth or assume responsibility for his actions, did you ever really look at the size of his head to the rest of his body, its disproportionately smaller, akin to pinheads, seriously, take a look.

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