Vince Young Once Took $300K Loan for Birthday Party
We hope it was a good party, at least.
We hope it was a good party, at least.
If you believe a former financial adviser of Vince Young, the signs were there for the former star quarterback’s money troubles, as he apparently borrowed $300,000 just to throw a party.
Good enough for me. How about you? Didn’t think so.
Young is currently “challenging a $1.7 million judgment obtained against him in New York last July by Pro Player” (the balance of a $1.9 million loan taken out in May of 2011 at 20 percent interest).
Reportedly, more than a dozen players were loaned money by Pro Player during the lengthy lockout. Young contends that he ”probably” signed for a loan, but that he never needed nor sought one out. The Associated Press reports:
“The former financial adviser for ex-NFL quarterback Vince Young said under oath that he arranged a high-interest, seven-figure loan for Young during the 2011 lockout because the player wanted to throw himself a $300,000 birthday party even though he was running low on funds.”
Well, that doesn’t seem like an intelligent thing to do, especially during the uncertainty that was the 2011 lockout.
As we all know, NFL players will be NFL players, and many feel the waterfall of money is never-ending and financial woes are but fanciful tales. According to Young’s camp, the former financial adviser, Ronnie Peoples, is not entirely accurate with his account.
Peoples, who is president and CEO of Peoples Financial Service Inc. in Raleigh, N.C., made the statement in a videotaped deposition in January, when he also offered, “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. That’s what prompted that call.”
Young’s attorney, Trey Dolezal, completely dismissed what he considers to be an outlandish claim, stating, “I have no idea what he’s talking about with the birthday party and neither does Vince.”
Check out the rest of the article via our friends at Bleacher Report.
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