Vince Young, former marginal football player/still broke guy has made some poor financial decisions. I guess you’d have to in order to get to where he is today. Well, here’s a new one: Young allegedly took out a high-interest, seven-figure loan during the lockout in 2011 to finance his $300,000 birthday party, while his funds were already running thin.
Young’s former financial adviser, Ronnie Peoples, testified under oath a few months ago that Young took out the high-interest loan in 2011, some of which went towards financing his $300,000 birthday bash. Via AP:
“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.”
Team Young swiftly denied the allegations, with Young’s lawyer Trey Dolezal claiming neither he nor Vince have any idea what Peoples is talking about with the birthday party. The fight between Young and Peoples stemmed from a $1.7 million judgement obtained against him in July by Pro Player, the firm that granted Young the loan, as well at least a dozen other NFL players, during the lockout.
According to 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 in turn, said he had no need for a loan, never sought one and didn’t have access to the proceeds. Peoples called shenanigans, and said he discussed the loan with Young, which was closed a day before his birthday and was used only to “satisfy his obligations.” You know, like his $300,000 birthday party.
Peoples also testified that Young’s spending was unpredictable, like when he dropped $176,000 on a Ferrari when his spending budget for the month was $30,000.
At the very least, Vince got a knockout birthday party and some sweet wheels. I’d take it.
[AP via ESPN, Getty Images]