Tennessee Titans Quarterback Vince Young, who has been out of the NFL since August, is currently suing his former financial planner as well as his former agent because he claims that they took out a $1.9 million loan in his name during the NFL lockout and used the money for themselves.
The loan was issued by Pro Player LLC, who concluded that Young still owes his planner and agent a $1.7 million balance. Pro Player gave out more than a dozen loans to NFL players during the lockout.
From the AP:
[Young] testified during a deposition in December that he “probably” signed some of the loan documents in the presence of a notary at a law office in Houston. But he said he had no need for a loan, never sought one and didn’t have access to the proceeds.
That account was disputed by Peoples, who testified that he personally discussed the loan with Young at a meeting in Houston.
Moreover, funds from the loan, which closed a day before Young’s 28th birthday, were used to satisfy the quarterback’s “obligations,” Peoples said.
And what obligations would those be? The Financial Planner cleared the air in a videotaped deposition last month:
“I think we still would have been OK to go ahead and survive until the next season, but he had a birthday event coming up that he paid 300 and some thousand dollars for,” Peoples testified. “That’s what prompted that call.”
::Sigh:: and we actually thought an NFL player wasn’t in the wrong in a financial battle. Fame is clearly impairing Young’s ability to deal with any financial matters rationally as he apparently believes a $300,000 dollar birthday party is a necessary investment.
Sean Levinson | Elite.
