Financial advisor says NFL's down time was party time for Vince Young

Tuesday, February 12, 2013 at 6:37pm

Getting older did not mean Vince Young was getting wiser.

Not when it came to money, at least, according to a former financial advisor for the one-time Tennessee Titans quarterback.

Ronnie Peoples, president and CEO of Peoples Financial Service Inc. in Raleigh, N.C., said in a deposition last month that Young took out a seven-figure loan while NFL players were locked out, in part to finance a $300,000 birthday party he intended to throw for himself.

The Associated Press obtained a transcript of Peoples’ testimony and reported on the content of it Tuesday. In the report, Young’s attorney disputed the claim.

''I have no idea what he's talking about with the birthday party and neither does Vince,'' Trey Dolezal said, according to the AP.

Young reportedly obtained a $1.9 million loan from New York-based Pro Player Funding LLC in May 2011.

Last July, Pro Player won a $1.7 million judgment — the balance of the loan, which came with a 20 percent interest rate — against the quarterback. Young has contested that ruling.

Peoples testified that he contacted Pro Player when he learned of the loan and said that Young already had used part of the money to finance the party despite the fact that the NFL’s 2006 Offensive Rookie of the Year had relatively limited finances at that time.

''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.''

Young turned 28 on May 18, 2011.

Poeples called Young’s financial situation in May 2011 “not good” and classified Young’s spending habits as unpredictable.

''It's almost like I can have a $30,000 budget that I know we had to pay here, but then, you know, I get an invoice for a Ferrari that he just bought for $176,000, and they want their money,'' he testified.

Young played in six games for the Philadelphia Eagles in 2011 but was released. He signed with Buffalo last year but was released following training camp and was out of the league for the entire 2012 regular season.

The contract he signed with Tennessee after he was drafted third overall in 2006 guaranteed him $26 million.

Dolezal told the AP that Young has assets of $5-7 million.

4 Comments on this post:

By: courier37027 on 2/12/13 at 8:53

Wait one minute, after Young scored a 6 on the Wunderlich Test the local press, err, Titans PR lackeys (most notably Plaz, McClain and McCormick) told us Young's low test score was a mistake. The score was (allegedly) more like a 16. Young was a genius in disguise. When Young got his diploma from the "other" UT, he had to choose between pro football or a career as brain surgeon. Indeed the Titans had a Rhodes scholar according to the local radio shows. Of course Willy and Darren agreed.

By: CaptainCatfish on 2/13/13 at 9:24

Ah... Vince. I remember him. A shame his career lasted such a short time. Wasn't he the fallen star that twinkled out just about the time that atari game dude wasted away all that talent for the gangsta life? And now he has what.. 1 interception since 2006? Well.. at least maybe... those that never realized the good that Jeff did on the field and in the city can appreciate the fact that he got another wanna-be with a pistol off of I-65, armed only with his soothing voice and a cell phone ...

By: 4gold on 2/13/13 at 11:10

Another NFL genius. And people worship these idiot manual laborers, pay them more than doctors and others that do something important in life. Values are truely screwed up in this world. How stupid do you have to be to sign for $26 million and have to take out a 20% loan to give yourself a birthday party?

Cut players salaries by 2/3rds and make NFL pay for their own stadiums. How did it get so screwed up?
Signed,Taxpayer
Go Nashville a great place to live!

By: Jughead on 2/13/13 at 4:53

Why does this story make me feel good?

Oh--I forgot--VY was a self-centered, entitled, drama-queen twit while he was in Nashville.