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Vince Young is broke and out of work
- Thread starter stingray
- Start date
$26 million is more than almost anyone will make in a lifetime. It's the equivalent of being paid $600k a year for your entire working life. How can you blow that so fast? That's insane.
As to his spending, I once saw him buying some bling at a local jewelry shop. His stuff wasn't as bad as what tank Johnson was buying but it was still fairly insanely expensive
As to his spending, I once saw him buying some bling at a local jewelry shop. His stuff wasn't as bad as what tank Johnson was buying but it was still fairly insanely expensive
HoustonFrog
Dallas Frog
Showtime100
Got JJ?
I can't say anything bad about him right now. Yeah, a fool and his money and all, but I feel for him because of the financial deceleration trauma he's getting ready to experience. 
Dutchrudder
Hall of Fame
I don't think all of his money was wasted in the typical fashion. 17.5 million is a lot to have disappear on anyone.
http://www.statesman.com/sports/longhorns/vince-young-sues-former-agent-financial-manager-over-2398410.html
http://www.statesman.com/sports/longhorns/vince-young-sues-former-agent-financial-manager-over-2398410.html
I dont feel sorry for VY. It was his decision to get in bed with a guy like Adams. Is Reliant still VY/Fanboys house?
Wonder if VY would be willing to either bulk up and become a TE? Or become a WR? Making some $$$$ is better than making none.
On second thought I couldn't see VY's ego letting him make a position change. So, broke he will be.
I don't have enough information to assess blame. Based on the lawsuit it appear the his advisor could have done business similar to Allen Stanford or Bernie Madoff. It's one thing to squander money, yet another to be wiped out by someone you trust steal from you.
TheMatrix31
Hall of Fame
Good. I'm GLAD he's broke. He's worthless and he's a loser.
How anyone could have the God-given talents he has and COMPLETELY blow them AND the MILLIONS of dollars he got just for being a top draft pick is ****ing beyond me.
**** him.
How anyone could have the God-given talents he has and COMPLETELY blow them AND the MILLIONS of dollars he got just for being a top draft pick is ****ing beyond me.
**** him.
jaayteetx
All Pro
Just got back from Clearwater, Fl and as I was finished checking in and walking up to to my room, who do I see? VY himself. It was Sunday and I was sporting my Texans t-shirt, I'm sure he was praying I would leave him be, which I did. My wife spotted him later at the beach also, hanging with his fam and enjoying his Sunday like the rest of us shmoes with no NFL gig.
Since VY is from Houston, he probably would have been gracious. The fact that the Texans didn't draft him has probably worn off by now. There are a number of pro athletes that were drafted to a team, but still a long time fan of another except when they play each other.
You weren't watching the Texans game?? You were in Florida. You could have rode up to Jax with me.
The1ApplePie
Hall of Fame
Some times you have to love the Texans fanbase. Still butthurt over VY and Reggie, hate Mario now because he's with a different team, wish nothing but bad things for every ex-Texan who isn't named DeMeco.
Some times you have to love the Texans fanbase. Still butthurt over VY and Reggie, hate Mario now because he's with a different team, wish nothing but bad things for every ex-Texan who isn't named DeMeco.
Personally I have no issue with any of those guys, not even Vince.
However the VY fanboys STILL making ridiculous excuses for him and STILL hating the Texans for not drafting him annoy me to no end. So Vince failing only makes them look more stupid than they already are.
Also, VY's ego and non willingness to work put him where he is. So no I do not feel sorry for him.
There are a lot of "untraceable" ways to lose money, including gambling, drugs, women, cash payments for stuff, etc
ChampionTexan
Hall of Fame
Some times you have to love the Texans fanbase. Still butthurt over VY and Reggie, hate Mario now because he's with a different team, wish nothing but bad things for every ex-Texan who isn't named DeMeco.
First, I don't think the "hating" of players who move on is limited to the Texans fanbase by any stretch of the imagination. I view that as within the confines of the game of football, and not extending to the personal life of the players involved. It may not be the most mature, logical position to take, but we are talking about football fans here.
In terms wishing ill personally on VY, I like to think that's one seriously misguided poster and not a representation of the Texans fanbase as a whole.
Dutchrudder
Hall of Fame
So how exactly is VY supposed to know that his agent and financial adviser were going to be thieves? I don't see how you could not feel sorry for him if he was genuinely a victim of these guys. There are millions of people out there who have been effected by guys like Madoff, Stanford, etc, and it's not the customer's fault.
Stemp
Brew Master
Taking an active interest in your finances and questioning how it is being used.
And if you have any concerns, having a third party review your books.
Well, at least he still has "his house".
chicagotexan2
Easterby = Little Finger/Cal = Fredo Corleone
I can't see how someone with that much money and that much on thier plate to not be able to oversee the money not hire a group like Ernst & Young or other private auditor to watch your advisors. The cost is worth it for not having to end up like this. If they stole from him they should be prosecuted and made to pay restitution. But even if they were to refund every penny I have no doubt that it would only prolong the inevitable, which is Young ending up broke due to his own lack of personal responsibility.
Mr teX
Hall of Fame
Hometown hero turned bum...kinda feel sorry for the kid now.
26 million...a good portion of that is lost to taxes (~ 9 mil or so) so u figure he had about 17 mil to play with.....
Say he got a really nice 1 million dollar home..............................................16 mil
3 really nice cars that total a combined 1 million.........................................15 mil
A couple of vacation homes across the U.S. that total 1 million......................14 mil
A few bad investments/stealing by his advisors totaling a combined 5 million......9 mil
Hooking up buddies and hangers on that total 4 million...................................5 mil
uncontrollable spending that total 3 million...................................................2 mil
Unlike other athletes who've made 100's of millions over they're careers (T.O., Sapp) i could see how he could be broke if you call having possibly only a few million left of 26 million being "broke". He more than likely has a few fixed assets that he can turn liquid, But then this is also just the contract money...doesn't even factor in a few of his endorsement so....
Same story, different athlete. When you come from nothing, more often than not, you never really learn how to handle that kind of money. We might see mario on this list in a few years if he hasn't gotten his car addiction under control.
26 million...a good portion of that is lost to taxes (~ 9 mil or so) so u figure he had about 17 mil to play with.....
Say he got a really nice 1 million dollar home..............................................16 mil
3 really nice cars that total a combined 1 million.........................................15 mil
A couple of vacation homes across the U.S. that total 1 million......................14 mil
A few bad investments/stealing by his advisors totaling a combined 5 million......9 mil
Hooking up buddies and hangers on that total 4 million...................................5 mil
uncontrollable spending that total 3 million...................................................2 mil
Unlike other athletes who've made 100's of millions over they're careers (T.O., Sapp) i could see how he could be broke if you call having possibly only a few million left of 26 million being "broke". He more than likely has a few fixed assets that he can turn liquid, But then this is also just the contract money...doesn't even factor in a few of his endorsement so....
Same story, different athlete. When you come from nothing, more often than not, you never really learn how to handle that kind of money. We might see mario on this list in a few years if he hasn't gotten his car addiction under control.
True but neither one of these guys had any experience. He should have hired a real NFL agent that has references and years of experience working with NFL players.
Instead he tried to "take care of his homies" and got burned for being naive or stupid as the wonderlic test demonstrated.
eriadoc
Texan-American
Well, like I said above, SIX. The Wunderlic probably isn't an indicator of much of anything when it comes to playing football, but it's probably a warning sign that he was not going to make smart decisions about complex things like finances. It sounds like a few people caught on to that fact and took advantage of it. Since VY probably never surrounded himself with paragons of integrity, no one caught on to it and protected him.
As far as him hiring those people, so did the dupes who got taken by Madoff, et al. They were sold a slick sales pitch and they bought in. Ponzi schemes and other elaborate cons don't typically go after the best and brightest society has to offer. They go after SIX.
I feel a little bad for the guy, but the same sense of justice that makes me feel a little bad for the guy also was annoyed that he got $26M in the first place, so it all washes out. The VY fanboys that made me dislike the mntion of VY over the years maybe tip the scales a little toward negativity toward VY. But hey, I'm sure he's a great guy, and now he has a chance to put that UT diploma to work and go get a cushy job somewhere making six figures like the rest of Americans, right?
OK, that was mean. I apologize.
yep. Nobody would feel sorry for me if I go bankrupt by letting morons handle my finances. Why should VY be any different? Because he's an entertainer?
Beside, dude has a college education, so he should have some smarts about it.
chicagotexan2
Easterby = Little Finger/Cal = Fredo Corleone
I have no doubt that his prestigious degree will make his other business ventures a success (i.e. Sausage empressario, steakhouse maven and sperm donor extrodinaire). If all else fails Mattress Mack will give him a job a furniture delivery man. No offense to furniture delivery men.
2012Champs
Hall of Fame
You take even bigger risk when you go with small fry advisors. If you work with a financial advisor at a big broker and they steal from you the firm pays you back. If your advisor owns his company, steals all your money and spends it then there isnt anything to get back. The same thing goes for CPAs and so on.
Both investors of Madoff and Stanford fall under the same opinion that I have of Young's situation ignorant, greedy or both. I dont feel sorry for the Stanford investors whom were putting money into CDs at 6-10% interest when the rest of the market couldnt pay 1-2% And with Madoff he had only 2 down months of investing out of 100+ month with the largest down month being 0.5% which is an impossible trading record but his investors didnt care, they just wanted the fake returns.
2012Champs
Hall of Fame
Im not sure why you would be annoyed that he got paid 26MM. What other people get paid doesnt mean much to me and even more so when its totally unrelated to what I do
chicagotexan2
Easterby = Little Finger/Cal = Fredo Corleone
Right here.
chicagotexan2
Easterby = Little Finger/Cal = Fredo Corleone
OK, that was mean too. I'll stop now.
Could be meaner and post a pic of Voung eating his own sausage...........
or boogers.
eriadoc
Texan-American
That's fine. You don't have to be.
Hervoyel
BUENO!
My thoughts are that Vince needs to get his butt to Canada and see if there's still time for him to learn to play QB. If there isn't then I think he needs to investigate the other side of the play and find out if he can catch the ball. TE, tailback maybe? It's time to look outside the box and find a place in professional football if there is in fact one for him.
A lot of great players weren't too good to go north and get their act together. Vince shouldn't be either. If he is then there's really nothing anyone can do for him at this point.
A lot of great players weren't too good to go north and get their act together. Vince shouldn't be either. If he is then there's really nothing anyone can do for him at this point.
utahmark
markbeth
He is 29 years old and never played either of those positions. Not sure that is an option for him.
I understand there is an issue with that also. Apparently the Montreal team owns his rights, have the best QB in the league, and are blocking him from going to another team.
Lingerie Football League maybe?
2012Champs
Hall of Fame
A good life lesson for you then. Try not to let things that have no impact on you and/or you have no control over annoy you.
Mr. White
Retired OLine Coach
I think he probably went with Major Adams because the guy wasn't a sports agent. Since he was from the entertainment field, he probably sold Vince some line about how he would "cross over" and be a black pop culture icon instead of a regular old NFL QB.
If my assumption is correct, then the guy delivered. He got him a BET reality show and a secured credit card endorsement before his rookie year even started. Too bad Major Adams didn't know jack about making him a better football player. If he did, then he'd probably be a starter somewhere now and he wouldn't be broke.
If he hires an agent that can help him get his head screwed on straight and sell him to the GM's around the league,there may be hope for him yet.
Dutchrudder
Hall of Fame
yep. Nobody would feel sorry for me if I go bankrupt by letting morons handle my finances. Why should VY be any different? Because he's an entertainer?
Beside, dude has a college education, so he should have some smarts about it.
If it's any consolation, I would feel bad for you if you lost all your money to an unscrupulous financier. Nobody deserves to have their hard earned money stolen from them.
So the answer is blame the victims for trusting their hired financial advisors? Jesus christ you people are rough.
chicagotexan2
Easterby = Little Finger/Cal = Fredo Corleone
Man I love and respect some of my friends and relatives, but there is not way in hell they'd be allowed to manage my millions (if I had millions). Just like there is no way in hell I'd let them perform surgery on me. If they stople from him give him back what is rightfully his, but he is about as far from blameless as he is from being smart.
jaayteetx
All Pro
You weren't watching the Texans game?? You were in Florida. You could have rode up to Jax with me.
Oh, believe me, I found me the hotel swim bar which had the Sunday ticket and made sure one their two televisions was set to the Texans game. It was pretty nice actually.
Very cool. Yeah, it wasn't shown locally. In the AFC I think they alternate between the Dolphins and Jags each week (just a guess at this point). I do know the Dolphins were on in central Florida this week and not the Jags.
Honestly, I keep going to games but the game is much better on TV these days. That said I am going to the Bucs game in 2 weeks. It is a late game and the Texans have the early game. I am going to see if I can stream the Texans from the tailgate area we will be at.
2012Champs
Hall of Fame
If its your money, you choose to have no idea whats going on, you dont question anything and dont care to even learn the slightest? Yup you deserve losing it all. Even more so when the situaiton as was the case with madoff and stanford where it would be overly obvious that things werent right and more so in the case of Madoff since all of those folks have to qualify as a much higher level of investor to get in.
Let me clear both Madoff and Stanford deserve to spend the rest of their lives in prison for their actions.
The best companies in the world have upper management who glady accept being challanged by their team and challanges their team at the same time. I am the CEO of my money and if I pass the responsibility on to someone else to make choices Im going to question them or have another manager look at the activity and question it as well.
At the end of the day its your money and what happens to it falls on your shoulders.
Enron 401k employer match was 1 to 1 unless you took enron stock which then they would give you 3 to 1.
Standford Cds paying double and triple what the rest of the world could offer
Madoff never losing money, ever, generating some of the smoothest returns over such a long period of time that makes the outcome so impossible that it makes no sense
All areas in which greed overtook responsible and prudent actions buy the investors and people around them
2012Champs
Hall of Fame
here is the chron article on it
http://www.chron.com/sports/article/QB-Vince-Young-out-of-the-game-and-out-of-money-3874936.php
its too much to copy and paste but at the bottom it certainly talks about VY's inability to accept responsibility for some of his actions that impacted his finances
http://www.chron.com/sports/article/QB-Vince-Young-out-of-the-game-and-out-of-money-3874936.php
its too much to copy and paste but at the bottom it certainly talks about VY's inability to accept responsibility for some of his actions that impacted his finances
Goldensilence
hipster elite
Holy **** bro. Did he like personally come and punch you in the face, kick your dog, or spit on your girl (in between dancing shirtless with his boys)?
Far as his NFL career goes if Montreal does still own his rights still might not be a bad idea to go up still get some sort of reps with any football team. Of course that's assuming he still really wants it.
Far as his finances go, I do kind of feel for the dude on that and it continues to highlight the importance of things like the rookie symposium and other ways to get young NFL players an idea of how to handle their finances during and after their careers.
2012Champs
Hall of Fame
His problems and many other pro guys only show an issue that far to many americans would face given large sums of money but people wouldnt want to admit it. Why kids dont have to take any personal finance classes in high school or beyond kills me but lets make sure we get the PE in