(Source) The financial struggles continue for unemployed NFL quarterback Vince Young, the former Tennessee Titans 1st-round draft pick. According to a report from the Houston Chronicle, Young filed for Chapter 11 bankruptcy protection.
Attorney Brian Kilmer of Houston filed the petition last week in a Houston federal bankruptcy court on Young’s behalf, listing Young with estimated assets between $500,001 and $1 million and liabilities between $1,001,000 and $10 million. No specific details on Young’s assets and liabilities were immediately available.
It is extremely difficult to wrap one’s head around a guy who less than 8 years ago, signed a contract that gave him a $25.7 million signing bonus as a rookie. Young has maintained that he was swindled out of millions by his former agent, who impersonated him and forged his signature on documents. Young took out a loan back in 2011 during the NFL lockout for $1.8 million, and was sued due to not paying back the loans. This certainly a cautionary tale to many young athletes, that the money can run out, and to be careful with who you surround yourself with and how you manage your money. The checks won’t just keep coming.
The only shocking part of this is the fact that Vince Young hasn’t already declared bankruptcy. How is that possible? Like if you asked 100 NFL fans on the street if Vince Young is bankrupt I’m fairly confident 100 out of 100 would say yes. This wasn’t even an if, it was always a when. So I guess it’s actually kind of a job well done by Vince. He made it all the way to 2014 before officially filing for bankruptcy. I would have guessed 2009 at the latest. Way to be fiscally responsible Vince, proud of you dude.
@BarstoolBigCat Chapter 11 is probably the furthest he’s ever made it in a book
— Garrett B. (@bicklovin50) January 22, 2014