Damn, SMH. Another star athlete files for bankruptcy — this time it’s former NFL QB Vince Young. I’m definitely not surprised at this since that report last year on Vince taking out a loan to throw a big birthday party. Hit the jump for details…
Via CBSSports:
Sixteen months ago, it was reported that Young was nearly out of money, despite once signing a contract that guaranteed him $26 million.
Now, he’s had to file for Chapter 11 bankruptcy, according to the Houston Chronicle. The paper reports that attorney Brian Kilmer filed a petition in a Houston federal bankruptcy court, listing Young’s assets worth between $500,001 and $1 million with liabilities between $1,001,000 and $10 million.
More from the paper:
Over the last year, Young, 30, has been locked in a pair of lawsuits stemming from a $1.8 million loan obtained in his name during the 2011 lockout.
A New York state court has granted a judgment against Young to Pro Player Funding, a New York company that made the loan, which along with interest has grown to more than $2.5 million, according to a Pro Player attorney.
Pro Player Funding has made several efforts in a Harris County state district court to enforce collection of the judgment, but those efforts remain pending.
