houston chronicle i am really bothered by this. bothered on multiple levels that i'll try and put into words. i like vince. he seems like a good guy with an amazing amount of talent. it bugs the crap out of me that so many athletes hire people that they "trust" but not folks with levels of expertise in the area that they needed help with. this drake thought of "no new friends" plays into this. i know this isnt always the case...and there are athletes out there who are being smart to put their money into trusts for safe keeping purposes, but it just really bothers me. vince young, NFL career aside, should not have to worry about money given the money he got from his first contract. he should be set up for life. it just bugs me that he isnt. it bugs me that this is far too common for young athletes.
Prop Joe is spot on. Situations like this are troubling on so many levels. Yeah, VY made the decision to hire the guys he did and is ultimately responsible for the financial decisions that produced this result; but, VY lacked the infrastructure to handle his then new-found wealth and fame. Those that he "trusted" preyed upon him and did not have the requisite level of expertise (or moral fiber) to make decisions that were in VY's best interests. On top of that, it appears that no system was in place to hold them all accountable. Hard lesson learned (we hope).
Prop Joe's being bothered is spot on. And equally as bothersome are those who are morally bankrupt, a bother which is only compounded when some are both financially and morally bankrupt. However, I can't help but think of Elton John's "Candle in the Wind" and wonder what part fandom plays in driving these people to this point. All very puzzling.
Excuse my ignorance but does UT, other schools, the NFL, etc not put draft eligible players through some kind of life skills - money management courses? Sad to hear. Montreal in the CFL has VY"s rights and Anthony Calvillo just retired. Who knows. Good luck VY.
i think rookies are required to go through a symposium...not sure if that was around when VY was getting drafted. similarly, i'm sure that UT positions themselves to provide advice to draft eligible student athletes.
Are you equally bothered by ex-presidents, real estate and media tycoons that declare bankruptcy? He earned his degree and can make another million or not. Vince is not a bright person. A fool and his money....
I can sympathize with VY but no more so than the millions of other people who are irresponsible and make poor life decisions. It’s no different from any regular Joe who runs up credit card or gambling debts, but with professional athletes it is magnified because of their celebrity-like status and the amounts of money involved. Life can be a tough instructor sometimes.
I know I'm an Aggie, but I don't get the "Vince is a victim" mentality that so many people seem to have. He definitely didn't align himself with the right people to help him manage his money and I'm sure plenty of them took advantage of him, possibly even stole some of his money. However, there are way too many stories out there about Vince spending thousands of dollars at restaurants like Cheesecake Factory and TGI Fridays. Today, The Ticket was talking about how Vince bought every seat on a SW airlines flight so him and his 9 buddies would have the entire plane to themselves. Vince deserves the majority of the blame for not having any money left today. But that's just like my opinion, man.
Didn't Vince borrow something like $300,000 for a birthday party after he was already having financial problems? Reminds me of when my son was about six years old and wanted me to buy him something relatively extravagant. I told him that I didn't have the money and his response was, if you don't have the money just use that card that makes it come out of the machine.
Serious question looking for a serious answer...what does he do from here on out? Television? As crazy as that sounds, Warren Sapp filed for bankruptcy and he has a gig. Car dealership? Coach?
I think he should exhaust all playing options because they pay more. Then, I think he should coach. He would have to get his teaching certification but football is something that he knows and hes the type of guy that would be good with the kids. The long hours and demanding schedule during the season would be good for him. He would be a normal Joe six pack, work for a living, and get a somewhat decent retirement someday.
Sad, sad news. I hope VY gets back on his feet and has a plan B. I agree coaching kids would be something he would have the skills for - I wish him the best.
Rookies get lots of instruction, warning and information on everything from advice to staying away from "those" women and that life. Taught about investments, wise purchases, not buying bling and cars for your entourage. Not plopping down cash on mansions right away, etc. Buy a house for your mom, maybe put some siblings through school and a decent place to live of your own. Don't buy a Lamborghini, Ferrari or Bentley. Get a nice BMW or Mercedes at about a tenth or more less. Be sensible. But many don't listen. The NFL very much provides this instruction and provides people to help as you go along. Either directly or through the team.
I distinctly remember when he announced his management team just after he left UT. My first thought was "oh, no."
I'm a huge VY fan and enjoyed watching him play in person more than any other player. While at Texas he had IT! However, VY declaring bankruptcy is not "sad" as other posters have mentioned. Sad is this story out of NY 8 year old saves 6 lives and is killed in fire It sucks for VY that he doesn't have any money, but that's his own damn fault. He had roughly 50mil in endorsements and guaranteed money and spent every penny and then some so I don't feel sorry for him or any athlete at that does that. If you don't have the sense to keep some for yourself then that's just too damn bad. Hopefully he'll put his degree to good use or play in the CFL.
In all seriousness, he (and other notable athletes) should open the Vince Young # 10 Insurance Agency. I would buy insurance with him: schedule a meeting, go into his office for a 30 minute consult and buy homeowners, auto, etc. from him. Or something like that. Of course, that will never happen.
Yep, pretty doubtful I'd want to buy my insurance, car, or have my shopping card rung up by someone who pissed away 30 million dollars. However, unlike my previous predictions about Vince setting up his new digs under I45's Pierce Elevated Downtown Houston, this legal move sounds like a tactical bankruptcy move, instead of Vince being flat broke and unable to pay the pizza delivery man. He'd foolishly borrowed money from some shady “payday” style loan outfit, who loans money to stupid and broke pro athletes, at high-*** rates. Now Vince is trying to renege on his loan and avoid paying by saying he's too poor to pay all of it back. Will most likely end up in some court ordered settlement where he pays some but not all of it back. As for all the CFL comments, it's my understanding for QB's anyway, the CFL is not just a minor league NFL. The field is longer and wider I believe, and with only 3 total downs you have to pass about every play. It takes a certain skill set to play in the CFL – you can't just be not good enough for the NFL. Doubtful someone who hasn't played in 3 years could get anyone interested in him. This isn't Spinal Tap, where you can go from the Air Force base to playing before a packed stadium in Japan.
It's not just Vince. A big proportion of big lottery winners are broke within a few years. If someone has never managed a large amount of money, they probably don't have the skills to do so and need ethical financial advisors, not friends.
Karma is a ***** and he should've stayed his senior year! He's reaping what he should've had.... Heisman, NC, etc.... I don't frown down on him.... he did this to himself!
