Advisor says Vince Young took out loan for $300,000 birthday party
Ronnie Peoples, a former financial advisor for former NFL quarterback Vince Young, said Young took out a seven-figure loan during the 2011 lockout in part because Young wanted to throw a $300,000 birthday party for himself.
Peoples made the statement during a deposition for a case in which Young is challenging a $1.7-million judgment against him by Pro Player Funding LLC, a lender that specializes in lending to pro athletes. Young had borrowed $1.9 million at 20% interest from them in May 2011.
“I think we still would have been OK to go ahead and survive until the next season, but he had a birthday event coming up that he paid 300 and some thousand dollars for,†Peoples testified. “That’s what prompted that call.â€
Young’s attorney, Trey Dolezal, denied the loan was for a party. “I have no idea what he’s talking about with the birthday party,†Dolezal told the AP, “and neither does Vince.â€
Peoples said Young’s monthly expenses were unpredictable, sometimes running as high as $200,000.
“It’s almost like I can have a $30,000 budget that I know we had to pay here, but then, you know, I get an invoice for a Ferrari that he just bought for $176,000, and they want their money,†he testified.
Young has not played in the NFL since he was released by the Buffalo Bills before last season. He signed a guaranteed $26-million contract with the Tennessee Titans after he was drafted in 2006.
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