The financial difficulties of Vince Young have reached a critical mass, with the former NFL quarterback filing for Chapter 11 bankruptcy protection in Houston.
Young, who led Texas to a national championship in 2005, was the No. 3 pick by the Tennessee Titans in the 2006 draft but lasted only five seasons there. He has not played in the NFL during the regular season since 2011, when he was with the Philadelphia Eagles. He was with the Green Bay Packers during training camp, but was cut. According to the Houston Chronicle, Houston attorney Brian Kilmer filed the petition last week in federal bankruptcy court, listing Young’s estimated assets between $500,001-$1 million and his liabilities between $1,001,000 and $10 million.
Young, 30, has been involved in lawsuits that result from a $1.8 million loan that was taken out in his name during the 2011 owners’ lockout of players. A judgment in favor of the company that made the loan has grown to $2.5 million. Young, in turn, has sued a group that includes his former financial adviser and former agent, claiming that they defrauded him and that he never received the money. Although a settlement reportedly has been reached in the second case, it has not been finalized, the Chronicle reports.