Vince Young files Chapter 11

[TexasExes98]

Vince young is the embodiment of Texas football.... So much talent and potential, just can't equate it to success.

Calm down, guy. VY went 37-2 as a starter at Texas and won a NC, much better than what Bradford ever did. Speaking of Bradford, your boy is an ass hair away from being an epic NFL bust, as his time in St. Louis is just about up. Also, VY had a much better record as an NFL starting QB than Bradford (30-17, 2 pro bowls, ROY and 1 playoff appearance, your boy Bradford is a pathetic 20-30 as a starter with ZERO playoff appearances and ZERO pro bowls). VY's problem was his head, but the guy could win in the NFL on a shitty team like the Titans. Your boy Bradford flat out sucks.

 

[MarkOU]

^^ did you pick up your hot links yet?

 

[BoiseMike19]

It is not a bad strategy at that level.
Filing Bk is not always a sign of destitution. Sometimes it is a deliberate strategy.

He can restructure and still come out with a fairly wealthy and comfortable life.
I don't know if he will ever be able to live the "over the top" NFL lifestyle....but it will still be fine.

He will always be able to get local restaurant and car commercial work in Texas. He could easily pull 200-300K per year milking that cow.

If nothing else, former Heisman winners can always do signing shows for 2-3 thousand for a few hours at sports memorabilia shows.

God Bless America. Sadly you are right. A guy with every advantage, a God given talent, one of the best "potential" educations on earth ignored, millions of dollars slipped through his fingers, and still not enough common sense to come in out of the rain.

Again, he will be fine because idiots like us will forget there are folks with down syndrom sharper than this guy and pay $100 for an autographed jersey.

 

[Thruthefog]

^^ did you pick up your hot links yet?

Seriously?

I only buy Earl Campbell hot links.

 

[starbigd]

The thing is, as much as we all will joke about this, pretty much 90% of the league will be in the same boat 3 years after retirement.

VY's case really isn't any different from pretty much every player out there. It really is a sad indictment on what happens when virtually ANYBODY comes into money like that.

 

[ATL96Steeler]

It is not a bad strategy at that level.
Filing Bk is not always a sign of destitution. Sometimes it is a deliberate strategy.

He can restructure and still come out with a fairly wealthy and comfortable life.
I don't know if he will ever be able to live the "over the top" NFL lifestyle....but it will still be fine.

He will always be able to get local restaurant and car commercial work in Texas. He could easily pull 200-300K per year milking that cow.

If nothing else, former Heisman winners can always do signing shows for 2-3 thousand for a few hours at sports memorabilia shows.

Donald Trump did it twice...VY reportedly did some stupid things with that cash and could very well be broke, but you're right, he should be able to bag work in TX. Has an NFL pension coming, should be ok.

 

[BoiseMike19]

The thing is, as much as we all will joke about this, pretty much 90% of the league will be in the same boat 3 years after retirement.

VY's case really isn't any different from pretty much every player out there. It really is a sad indictment on what happens when virtually ANYBODY comes into money like that.

Stats will show 90% is way off. 90% will be just fine and with an average 4 years service had the discipline to not retire, but plant the seed to do so well before the average Joe. You can give the best opportunity to learn to many of these goofballs, but you can't make them listen/absorb the info. Young will not be forced to eat mac n' cheese because it is all he has in the cuboard. However, 90% of the population that were given less will produce more with less tnan he ever will.

 

[starbigd]

Stats will show 90% is way off. 90% will be just fine and with an average 4 years service had the discipline to not retire, but plant the seed to do so well before the average Joe. You can give the best opportunity to learn to many of these goofballs, but you can't make them listen/absorb the info. Young will not be forced to eat mac n' cheese because it is all he has in the cuboard. However, 90% of the population that were given less will produce more with less tnan he ever will.

You're right.....it's only a paltry 78%

 

[BoiseMike19]

You're right.....it's only a paltry 78%

78% of former NFL players file any Chapter 7 to 11? Link paalleease.

 

[starbigd]

78% of former NFL players file any Chapter 7 to 11? Link paalleease.

GOOGLE works for you the same as me. USE it.

http://lmgtfy.com/?q=percentage+of+nfl+players+broke

 

[JuiceTheGator]

sheet. If Dan Marino got a fucking 15 on the Wonderlich, anyone who ever brings it up again is just a douche.

 

[starbigd]

sheet. If Dan Marino got a fucking 15 on the Wonderlich, anyone who ever brings it up again is just a douche.

Apparently the only players that do well on it are the ones that take it seriously. If you're clearly a great talent on the field, it's not like a team won't draft you in the first round whether you take it or not. It's not a predictor of success either; I'm not sure why it's even used anymore.

 

[ATL96Steeler]

You're right.....it's only a paltry 78%

It's pretty high whether 78% is the number or not...the running number was 70%. A couple of years ago we had an opportunity to talk with a former NFL player about it off mic on a local sportstalk radio remote.

Former Falcon...when he broke it down the light when off...he said that most of the players that get a 2nd NFL contract, especially the multi-million signing bonus contracts are not the players going broke. A VY type contract going bust is more rare than the norm, but they are news makers when they do go bust.

I did a little research on my own...on a 53 man roster on most teams you have about 15 to 18 such big contracts...then you have about 5 to 10 vet contracts around $800k to $1mil per season, the balance are making league minimum which is about $390,000 per season spread over 16 weeks. Less agent commission, less taxes...about $13,000 per game check...this is where most of the carnage is...every 3 years these guys are getting churned out of the NFL...1 contract players...so even if the player was somewhat frugal they are still likely to have a $2,000 mortgage, nice car, etc...$5000 a month expenses...he said that's a pretty good figure to use from his experience.

After the 3 NFL seasons are up, the $5k a mo expenses are not and there you go...eventually the player goes broke. Bottomline...these guys are condensing what amounts to a lifetime of earnings for the avg Joe into a 3 year time span. It's no wonder they blow it.

The NFLPA needs to spend a lot more time with players on money management

 

[occupant]

Calm down, guy. VY went 37-2 as a starter at Texas and won a NC, much better than what Bradford ever did. Speaking of Bradford, your boy is an ass hair away from being an epic NFL bust, as his time in St. Louis is just about up. Also, VY had a much better record as an NFL starting QB than Bradford (30-17, 2 pro bowls, ROY and 1 playoff appearance, your boy Bradford is a pathetic 20-30 as a starter with ZERO playoff appearances and ZERO pro bowls). VY's problem was his head, but the guy could win in the NFL on a shitty team like the Titans. Your boy Bradford flat out sucks.

On July 30, 2010, Bradford signed a six-year, $78 million deal, which has $50 million of guarantees and has a maximum value of $86 million making it the largest contract ever for an NFL rookie.

In his first season in the NFL, Bradford set the record for most completions by a rookie in NFL history, which helped earn him the NFL Offensive Rookie of the Year award.

On January 23, 2014, Bradford is still the starting QB for an NFL team.

:charlie:?

 

[starbigd]

Thanks for that info.

Most of these guys probably have never had any significant amount of money or knew anyone who did. They don't understand basic financial principles, or have plans for post playing careers. A lot of them probably don't have any appreciable skills outside of football. Then you also have to factor in health care for a lot of those guys, as that's going to get worse as they get older. Knee issues, possible concussions.....and no insurance companies will touch any of them

LOTS of factors. In VY's case it looks like he just spent it all frivolously, as well as his advisors lost a good chunk of it.

 

[ATL96Steeler]

Yeah...VY made it and blew it.

16 paychecks has to be a little intimidating for a young person whom like you said probably has never had that type money...

I remember my 1st corporate exec (junior corp exec)...gig...I was making $32k...not bad for a 25 y/o, but we got paid once a month...boy, the 1st month was tough, but I learned to spread that money out pretty quickly.

There will always be a VY, Jamarcus Russell, or Ryan Leaf that will squander any size contract, but these guys need some help is my point here...considering the rank n file are paying most of the union dues as they are larger in number, the NFLPA should be really ashamed that the percentages are anywhere near that high for player finances going bust.

 

[TexasExes98]

Yeah...VY made it and blew it.

16 paychecks has to be a little intimidating for a young person whom like you said probably has never had that type money...

I remember my 1st corporate exec (junior corp exec)...gig...I was making $32k...not bad for a 25 y/o, but we got paid once a month...boy, the 1st month was tough, but I learned to spread that money out pretty quickly.

There will always be a VY, Jamarcus Russell, or Ryan Leaf that will squander any size contract, but these guys need some help is my point here...considering the rank n file are paying most of the union dues as they are larger in number, the NFLPA should be really ashamed that the percentages are anywhere near that high for player finances going bust.

The NFLPA does everything possible to educate these incoming rookies on financial responsibility. They hold several symposiums for these guys, that are mandatory to attend, teaching them about financial responsibility. After that, it's up to them. They are grown men, no need to hold their hand throughout the whole process. If they're dumb enough to spend $55K for dinner (Dez Bryant's dumbass spent $55K at dinner his rookie year), or spending $5K a week at Cheesecake Factory and buying $600 shots of Louis XIII at Nashville clubs (what VY's dumbass was doing), then this is what will happen. Then don't forget how the player's entire family (not just immediate family, but cousins, aunts, uncles, etc) mooch off of him like leeches and throw in the entourages, you can easily see why these players go bankrupt.

VY will be fine though. He's a UT legend and will be taken care of. You won't see him working as a bank teller like Tyrone Protho, making minimum wage. We take care of our own.....

 

[ATL96Steeler]

The NFLPA does everything possible to educate these incoming rookies on financial responsibility. They hold several symposiums for these guys, that are mandatory to attend, teaching them about financial responsibility. After that, it's up to them. They are grown men, no need to hold their hand throughout the whole process. If they're dumb enough to spend $55K for dinner (Dez Bryant's dumbass spent $55K at dinner his rookie year), or spending $5K a week at Cheesecake Factory and buying $600 shots of Louis XIII at Nashville clubs (what VY's dumbass was doing), then this is what will happen. Then don't forget how the player's entire family (not just immediate family, but cousins, aunts, uncles, etc) mooch off of him like leeches and throw in the entourages, you can easily see why these players go bankrupt.

VY will be fine though. He's a UT legend and will be taken care of. You won't see him working as a bank teller like Tyrone Protho, making minimum wage. We take care of our own.....

IF that is true. then they need to scrap the content and start over, because it's clearly not working if the reported % is anywhere close to be true.

On the other grandstanding stupid stuff...that's not every NFL player...those are the guys that will blow any size contract...small % of the players.

Family...definitely, but I think it takes a lot more than a one or two day seminar when you're dealing basically with young adults making real money for the 1st time.

A corporate exec earning $400k a yr and an NFL player earning $400k a yr should be managed entirely differently.

 

[TexasExes98]

IF that is true. then they need to scrap the content and start over, because it's clearly not working if the reported % is anywhere close to be true.

On the other grandstanding stupid stuff...that's not every NFL player...those are the guys that will blow any size contract...small % of the players.

Family...definitely, but I think it takes a lot more than a one or two day seminar when you're dealing basically with young adults making real money for the 1st time.

A corporate exec earning $400k a yr and an NFL player earning $400k a yr should be managed entirely differently.

If I was commissioner, I would pay rookies $60K a year for the 1st 3 years. That is still much better than what they would earn coming out of college if they weren't playing pro ball. Teach them financial responsibility for 3-4 years and make them earn that high pay. I've always thought it was so stupid to pay an unproven rookie more than a proven veteran.....

 

[7NationalChampionships]

you do know what his wondelic score was doncha????

This, I think the dude is borderline retarded.