Vince Young files for Chapter 11 bankruptcy protection

Former University of Texas and Tennessee Titans quarterback has liabilities of as much as $10 million.
Posted By Evan Bleier   |   Jan. 22, 2014 at 3:22 PM   |   Comments

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Jan. 22 (UPI) -- Former University of Texas and Tennessee Titans quarterback Vince Young filed for Chapter 11 bankruptcy protection last week in a Houston federal court.

According to the paperwork filed by attorney Brian Kilmer on Young’s behalf, the former NFL star has between $500,001 and $1 million in assets and liabilities between $1,001,000 and $10 million.

A judgment against the 30-year-old has been granted to Pro Player Funding, a New York company that made a $1.8 million loan in Young’s name during the 2011 NFL lockout.

After that ruling, Young sued his former financial advisers for defrauding him and conspiring with Pro Player Funding. Young has claimed he never received the money in question.

So how did this happen?

Young, who signed a contract in 2006 that guaranteed him $26 million, was reportedly spending $5,000 a week at the Cheesecake Factory and once threw himself a $300,000 birthday party.

After playing for the Philadelphia Eagles in 2011, Young signed with the Buffalo Bills in 2012 and the Green Bay Packers in 2013 but was cut both times.

[Houston Chronicle]
[CBS Sports]

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