PDA

View Full Version : a fool and his money...


Gort
09-19-2012, 07:08 AM
...are soon parted.

in just breaking, shockingly shocking news, Vince Young has burned through all of his money and is now broke. i know, huh? i'm shocked too!

$26M gone in 6 years.

http://profootballtalk.nbcsports.com/2012/09/18/vince-young-is-broke/

rules for all incoming rookies...

#1 - DO NOT TRUST ANYBODY TO LOOK AFTER YOUR MONEY, EXCEPT YOU!
#2 - see rule #1.

fontaine
09-19-2012, 07:22 AM
...are soon parted.

in just breaking, shockingly shocking news, Vince Young has burned through all of his money and is now broke. i know, huh? i'm shocked too!

$26M gone in 6 years.

http://profootballtalk.nbcsports.com/2012/09/18/vince-young-is-broke/

rules for all incoming rookies...

#1 - DO NOT TRUST ANYBODY TO LOOK AFTER YOUR MONEY, EXCEPT YOU!
#2 - see rule #1.

I knew it was only a matter of time before his bank account sum would equal his wonderlic score.

Rohirrim
09-19-2012, 07:24 AM
You can't fix stupid.

bronco militia
09-19-2012, 08:01 AM
this thread is racist

Gort
09-19-2012, 08:05 AM
this thread is racist

now it is...

http://3.bp.blogspot.com/--LDRPRENKZM/Tqq3OnlWzDI/AAAAAAAACI4/lkw8PiXUoJ0/s1600/RacismIsFunny.jpg

Crushaholic
09-19-2012, 08:06 AM
OK. The amount of money, in question, comes to $7.2m. He was paid $26m. What happened to the rest? I don't think it was ALL his financial planner's doing...

Tombstone RJ
09-19-2012, 08:07 AM
OK. The amount of money, in question, comes to $7.2m. He was paid $26m. What happened to the rest? I don't think it was ALL his financial planner's doing...

cost of inflation... blame Bernanke.

hookemhess
09-19-2012, 09:32 AM
http://img1.ranker.com/list_img/163299/540281/full/the-very-best-of-the-confession-bear-meme.jpg?version=1342832419000

I really like Vince Young.

broncocalijohn
09-19-2012, 09:44 AM
I bet Matt Leinhart still has a lot of his money!

Kaylore
09-19-2012, 09:50 AM
#1 - DO NOT TRUST ANYBODY EXCEPT AN OLD FINANCIAL ADVISER WHO IS NOT ASSOCIATED WITH YOUR FRIENDS AND FAMILY IN ANY WAY TO LOOK AFTER YOUR MONEY, ESPECIALLY YOU!
#2 - see rule #1.
FYP

Dr. Broncenstein
09-19-2012, 09:54 AM
Lol. Stereotypes. They are often true.

Beantown Bronco
09-19-2012, 09:54 AM
OK. The amount of money, in question, comes to $7.2m. He was paid $26m. What happened to the rest? I don't think it was ALL his financial planner's doing...

<iframe width="420" height="315" src="http://www.youtube.com/embed/J6HEWobwgAo" frameborder="0" allowfullscreen></iframe>

Pontius Pirate
09-19-2012, 01:20 PM
/jamarcused

maven
09-19-2012, 01:22 PM
...are soon parted.

in just breaking, shockingly shocking news, Vince Young has burned through all of his money and is now broke. i know, huh? i'm shocked too!

$26M gone in 6 years.

http://profootballtalk.nbcsports.com/2012/09/18/vince-young-is-broke/

rules for all incoming rookies...

#1 - DO NOT TRUST ANYBODY TO LOOK AFTER YOUR MONEY, EXCEPT YOU!
#2 - see rule #1.

Couldn't even hang on to be a backup. At least Leinart is doing that.

TheReverend
09-19-2012, 01:27 PM
this thread is racist

http://i.imgur.com/xWMXZ.jpg

menonite
09-19-2012, 01:31 PM
Couldn't even hang on to be a backup. At least Leinart is doing that.

I still think I'd take Young over Leinart.

Even though his career has gown down in flames he still had a few great moments. That 99 yard game winning drive against the Cardinals back in 99 was pretty damn impressive. His first game against the Texans was very nice too. Leinart....almost beat the Bears. Until they let 'em off the hook.

Kaylore
09-19-2012, 01:34 PM
I still think I'd take Young over Leinart.

Even though his career has gown down in flames he still had a few great moments. That 99 yard game winning drive against the Cardinals back in 99 was pretty damn impressive.

In 1999?

broncosteven
09-19-2012, 01:35 PM
Looks like he is going to have to find a sugar daddy to pick up his tabs at shirtless dance parties

http://img292.imageshack.us/img292/7950/vince2bxnj7.jpg

menonite
09-19-2012, 01:41 PM
In 1999?


Yep. Vince Young built a time machine. He used it for that one game and then Libyan's blew it up. That's where the rest of his money went. What has Leinart ever invented? Nothing that's what.

Damn Libyan's.

ZONA
09-19-2012, 02:57 PM
That's what happens when you want to support a posse along with yourself and they all, along with you, want to live like a billionaire with no responsibility or look to the future.

I don't feel bad for him, not 1 bit. Yeah, never occurred to him to stash 1M away just in case everything went down the tubes. I mean, you look at your bank account and there used to be 27M and now there is 500K, oh well, time to blow that too, let's go party.

****in idiots

maven
09-19-2012, 03:02 PM
I still think I'd take Young over Leinart.

Even though his career has gown down in flames he still had a few great moments. That 99 yard game winning drive against the Cardinals back in 99 was pretty damn impressive. His first game against the Texans was very nice too. Leinart....almost beat the Bears. Until they let 'em off the hook.

Football wise/career wise. Well then yes to Vince Young. Pocketbook? Leinart still making a big paycheck.

lonestar
09-19-2012, 03:36 PM
I knew it was only a matter of time before his bank account sum would equal his wonderlic score.

:thumbs:

lonestar
09-19-2012, 03:44 PM
ok I'll play the liberal here..

the government got up to 40- 50% of that 27 million, his agent not withstanding the out right theft got between 10-20 %..

all of a sudden that 27 is more like.. 13 and change before living like a moron..

it s all Bushes fault.. ahahahahahahaaha

Gort
09-19-2012, 04:14 PM
ok I'll play the liberal here..

the government got up to 40- 50% of that 27 million, his agent not withstanding the out right theft got between 10-20 %..

all of a sudden that 27 is more like.. 13 and change before living like a moron..

it s all Bushes fault.. ahahahahahahaaha

IIRC, agents for NFL players are limited to 3%.

bronco militia
09-19-2012, 04:22 PM
http://i.imgur.com/xWMXZ.jpg

LOL.....I love that game

lonestar
09-19-2012, 04:32 PM
IIRC, agents for NFL players are limited to 3%.

:thumbs:

had not heard that,

looked it up and your correct..

frankly Most lawyers get more than that for representing people..

not sure I'd do it for 3% but then 3% of 27 mil is still a chunk of change.. In this case 810K.

I suspect they have to have a lot of morons to represent to make good money..

maher_tyler
09-19-2012, 05:16 PM
Why not go to a firm that handles all your expenses etc? If i made millions i would start by investing in a few things.

menonite
09-19-2012, 05:17 PM
If i made millions i would start by investing in a few things.

Me too. Hookers and blow.

maven
09-19-2012, 05:36 PM
IIRC, agents for NFL players are limited to 3%.

Hence why these agents try to hook them up with "financial advisors"

maven
09-19-2012, 05:37 PM
Me too. Hookers and blow.

Yep, and even with all the hookers and blow you could still put some money aside.

rbackfactory80
09-19-2012, 05:39 PM
cocaine=helluva drug

errand
09-19-2012, 05:45 PM
Whatever happened to put it the bank and live off the interest?

Lestat
09-19-2012, 06:04 PM
5.5 + 1.7 loan = 7.2, that still leaves him ****ing up 18.8 mil before taxes.

i just can't feel sorry for that type of financial stupidity.
he should have divvied up the money in 3rds. 1/3 you put away, 1/3 you invest and 1/3 you do whatever the heck you want with.

these players need to learn to get with other financial successful people and glean from their success instead of trusting jack and alberto with the money and hoping for the best.

broncosteven
09-19-2012, 06:20 PM
...
I don't feel bad for him, not 1 bit. Yeah, never occurred to him to stash 1M away just in case everything went down the tubes. I mean, you look at your bank account and there used to be 27M and now there is 500K, oh well, time to blow that too, let's go party.

****in idiots

I am not sure how much space a mill in gold takes up but after getting that $26mil payout I would have rented a safe deposit box somewhere bought some gold or stashed some cash in it for a rainy day.

It is amazing how well one could live on with a modest house that is paid off and a couple hundred K in the bank.

chadta
09-19-2012, 06:25 PM
maybe he will take the job offer from the Montreal Allouettes after all, the altho im not sure he would make it in the CFL

Cito Pelon
09-19-2012, 09:10 PM
Fool was pretty much prey for unscrupulous people, and too dumb to know it.

Broncobiv
09-21-2012, 12:03 AM
Vince Young cites 'betrayal' for financial woes (http://sports.yahoo.com/news/vince-young-cites-betrayal-financial-191047617--nfl.html)

DALLAS (AP) -- Former NFL quarterback Vince Young is downplaying what he calls ''unfortunate'' financial problems caused by the ''betrayal'' of trusted advisers.

''Yes, I need a job, who doesn't. Yes, I want to be out there playing the game I love and earning a paycheck, who wouldn't?'' Young wrote on his Twitter account Wednesday.

Young has been out of a job since he was cut by the Buffalo Bills in August. The tweet came after an Associated Press story detailed a series of legal entanglements over his finances and quoted his attorney as saying of the former Texas star's financial status: ''I would just say that Vince needs a job.''

Young, who received a contract that guaranteed him $26 million when the Tennessee Titans made him the third player taken in the 2006 draft, also wrote that he is working to rectify financial losses ''which stemmed from betrayal by those I trusted most.''

Young is suing his former agent, Major Adams, and a North Carolina financial planner, Ronnie Peoples, claiming they misappropriated at least $5.5 million of his money.

Young also alleges that the pair took out a loan for nearly $1.9 million in his name without his knowledge during the NFL lockout in 2011 and kept the proceeds for themselves.

The lender, Pro Player Funding LLC, has obtained a judgment against Young for the balance of the high-interest note, a sum of nearly $1.7 million.

Young was the first client of a company formed by Adams, a Houston criminal defense attorney, and the quarterback's uncle, Keith Young, a former middle school teacher.

Attorneys for Adams and Peoples claim their clients have done nothing wrong and that Young's spending habits have put him deeply in debt.

The Twitter message is the first public comment on the matter from Young, who has declined interview requests.

broncocalijohn
09-21-2012, 09:50 AM
It was reported that he spent $6k at Cheesecake Factory a week. WTH you going there unless you are trying to memick Jamarcus Russel.

maven
09-21-2012, 10:01 AM
Vince Young cites 'betrayal' for financial woes (http://sports.yahoo.com/news/vince-young-cites-betrayal-financial-191047617--nfl.html)

Young is suing his former agent, Major Adams, and a North Carolina financial planner, Ronnie Peoples, claiming they misappropriated at least $5.5 million of his money.

Young was the first client of a company formed by Adams, a Houston criminal defense attorney, and the quarterback's uncle, Keith Young, a former middle school teacher.

Yes, these guys are greattttt financial advisors...

Jason in LA
09-21-2012, 10:43 AM
Just read this story on Redskins rookie Alfred Morris. Pretty awesome.

http://sports.yahoo.com/blogs/nfl-shutdown-corner/redskins-rookie-alfred-morris-still-driving-1991-mazda-212015811--nfl.html

I'm assuming that he's doing this across the board in his life, and saving the money that he's making. Maybe he has a long career and makes a lot of money, but there is a good chance that his career won't last much longer than the typical NFL career for a running back, so he might not make a boatload of money. But if he saves right, he'll be sitting nice at the end of his career. He'll have a nice chunk of money in his late 20s, early 30s. I'm rooting for this guy.

Jason in LA
09-21-2012, 10:46 AM
http://i.imgur.com/xWMXZ.jpg

They don't need the player on the box. Black college football is more about the band and dancing girls. And the tailgates are great. It's really more of a social event than a sporting event.

razorwire77
09-21-2012, 10:55 AM
VY is an idiot. However, that doesn't mean that it wasn't illegal to commit fraud to steal 1.9 million dollars from him. If true, I hope the financial advisers go to jail and he gets his money back.

Beantown Bronco
09-21-2012, 11:15 AM
VY is an idiot. However, that doesn't mean that it wasn't illegal to commit fraud to steal 1.9 million dollars from him. If true, I hope the financial advisers go to jail and he gets his money back.

$1.9 mil? Even if he gets that back, all it would accomplish is delaying the inevitable for another 6-12 months.

lonestar
09-21-2012, 12:19 PM
$1.9 mil? Even if he gets that back, all it would accomplish is delaying the inevitable for another 6-12 months.

most likely he will never see that money it is past well spent..

if it is not it is in an off shore account somewhere they will never get it back..

Besides like you said it will take time to prove it and when those charged are found guilty years of a appeals will stop it from being paid back..

lonestar
09-21-2012, 12:20 PM
$1.9 mil? Even if he gets that back, all it would accomplish is delaying the inevitable for another 6-12 months.

I will add to this in another post..

I read the post as it taking time to get it back..

Now I see you probably meant the moron will blow it in 6-12 months..

that makes more sense..

Beantown Bronco
09-21-2012, 12:40 PM
Exactly.