June 25, 2014
Vince Young, drafted star for the Tennessee Titans at the Quarterback position namely for his ability as a player, but what about his ability off the field? The star has recently filed for bankruptcy.
Young began with an astounding salary for a player at $26 million. So what happened that he blew through it all? Child support would be one of the things that attributed to his downfall. He pays child support to several women for his children. Young also entranced himself in several compulsive spending habits, in which it was exposed he would amass nearly $200,000 in expenditures per month.
Child support is not the only debt in this case. In 2011, during the players’ lockout, Young reportedly took out a $1.8 million from Peoples Financial Service Inc. There was a prior testimony that he was loaned a hefty sum for a birthday party he wanted to throw for himself, which had an estimated value of $300,000. A further judgment expanded the value to $2.5 million for this party.
In another case, Young sued various persons, his former financial advisor and ex-agent, claiming fraud and accusing them of taking $5 million without his authorization.