Former NFL QB Vince Young files for bankruptcy

[HammerDown]

Makes sense.

But, to be honest and fair about it ...

if I had a million dollars dumped in my lap at the age of 20, there's a good chance I would have been broke by the age of 30 too.

On our own? Probably. But I know for a fact that at some point my parents would sit me down and get it under control. VY, and the other cases like him are surrounded by bad people and they're too caught up in the lifestyle and too ignorant to know how to stop the vicious cycle.

 

[RobToxin]

On our own? Probably. But I know for a fact that at some point my parents would sit me down and get it under control. VY, and the other cases like him are surrounded by bad people and they're too caught up in the lifestyle and too ignorant to know how to stop the vicious cycle.

That's a very good point. My parents would have been like yours and .... had I listened to them (very important part to it)...they probably would have steered me in the proper path to money management. The people who are around these types do, I most definitely agree, help in their financial destruction and ruin.

 

[HammerDown]

The questions about the players' union are valid. If the purpose of the Union was to look out for the well-being of its members, then the collective bargaining agreement would include a section forcing 1/2 of all rookie contracts to be placed into a pension fund. Then, 1/2 of future contracts would also be paid into said fund until the player had, say, $3MM protected, at which point contributions would become voluntary.


The problem is twofold: One, leeches associated with agents want to access ALL the players' money and get them to 'invest' it with them. Two, more importantly - the players clearly don't want it, and the union is there to serve them, not babysit them. It can advise, but not enforce.


I look forward to 'Vince Young dead at 31' headlines in about 6 months.

VY isn't a bad guy, he's just dumb as fuck. I don't think he's going to be dead I just think he's not going to have a lifestyle of luxury that he should have had had he shown a measure of forethought.

It would be interesting to know how much VY is paid every year from his NFL pension. I've heard that a big reason why allot of players try to hang around one more year is to be further vested in the NFL pension because it exponentially increases with each game you're on the active roster.

VY blew it BIGTIME!!!

 

[night]

It doesn't surprise me, really.

He won us a national championship at UT but he seemed to not be cut out for the NFL.

You come in thinking that you're going to have a 20 year career with that kind of money and you spend it like crazy...then it ends all to soon and you wake up one morning broke.

He should have taken better care of his money.

I wonder what he got his degree in.

Wait for it...





Education

 

[darken65]

The questions about the players' union are valid. If the purpose of the Union was to look out for the well-being of its members, then the collective bargaining agreement would include a section forcing 1/2 of all rookie contracts to be placed into a pension fund. Then, 1/2 of future contracts would also be paid into said fund until the player had, say, $3MM protected, at which point contributions would become voluntary.


The problem is twofold: One, leeches associated with agents want to access ALL the players' money and get them to 'invest' it with them. Two, more importantly - the players clearly don't want it, and the union is there to serve them, not babysit them. It can advise, but not enforce.


I look forward to 'Vince Young dead at 31' headlines in about 6 months.

I hope I don't see the last sentence happen but I do agree that if the NFLPA is so concerned about a player's health then they should include a plan for a player's future beyond football....if they really care like they say they do. Maybe VY could get some money saving advice from TO

 

[RobToxin]

I hope I don't see the last sentence happen but I do agree that if the NFLPA is so concerned about a player's health then they should include a plan for a player's future beyond football....if they really care like they say they do. Maybe VY could get some money saving advice from TO

Okay...I laughed.

 

[wiskyisgood12]

The thing about finances and financial advice is even if the NFLPA offers it the players don't have to take it or listen to it. Realistically, how much of the Rookie Symposium already goes in one ear and out of the other? They can't make it just another thing they have to sit through. Unless the actual culture changes of athletes being more responsible with their money then we won't stop seeing these stories.

 

[Uhsplit]

It doesn't surprise me, really.

He won us a national championship at UT but he seemed to not be cut out for the NFL.

You come in thinking that you're going to have a 20 year career with that kind of money and you spend it like crazy...then it ends all to soon and you wake up one morning broke.

He should have taken better care of his money.

I wonder what he got his degree in.

Mismanagement.

 

[SoCalWizFan]

Makes sense.

But, to be honest and fair about it ...

if I had a million dollars dumped in my lap at the age of 20, there's a good chance I would have been broke by the age of 30 too.

A million - perhaps but $30 million? Cmon...