How Vince Young Wiped Out Over $25M Thanks To His Love For The Cheesecake Factory And Other Spending Habits
An old saying suggests, “life comes at you fast.” And that’s a sentiment that proved to be true for former NFL player Vince Young.
Young was a college quarterback standout for the University of Texas Longhorns. He would lead the team to a national championship win over the University of Southern California Trojans in the Rose Bowl in 2006. His collegiate performance on the field led to his drafting as the No. 3 pick to the Tennessee Titans later that year.
According to Spotrac, Young’s initial contract with the Titans earned him $25 million. Throughout his career, he would go on to be signed by the Philadelphia Eagles, Buffalo Bills, and Green Bay Packers. During his overall time on the field, he averaged 8,964 passing yards and threw 46 touchdowns.
However, it was his time with the Titans that launched him into NFL superstardom. According to Bleacher Report, Young became the first-ever rookie quarterback to rush for over 500 yards, leading the Titans to a record of an 8-8 finish from a staggering 0-5 start.
And while his future in the NFL seemed bright, Bleacher Report also noted that his trajectory as a player took an interesting shift many weren’t expecting. His level of play decreased, and a minor hand injury in 2010 sent him spiraling, leading to the ultimate separation between Young and the Titan franchise.
He was then traded to the Eagles and eventually the Bills. However, his time with both franchises did not bode well for the Texas native.
Although Vince Young struggled to live up to the hype of his football talent, in his personal life, his finances would mirror his on-field results. The player that started with a $25 million fortune filed for Chapter 11 bankruptcy in 2014, Sports Illustrated reports.
The post How Vince Young Wiped Out Over $25M Thanks To His Love For The Cheesecake Factory And Other Spending Habits appeared first on AfroTech.
Spotrac notes that over the entire course of his career, Young earned over $35 million. But it was his spending habits that contributed to his financial downturn.
Based on a report from Sportscasting, Young infamously loved The Cheesecake Factory. He allegedly spent $5,000 a week at the restaurant, according to the outlet. What’s more, he reportedly even spent $15,000 in one sitting at the restaurant.
In a separate event, Young reportedly bought all the seats on a Southwest Airlines flight because he wanted privacy. These incidents weren’t the only contributors to Young’s situation.
He admitted that he did not take his finances seriously and left them in the hands of his advisor and an uncle he hired as his manager.
After filing for bankruptcy, Young went through files with his attorney, finding documents with forged signatures and investments in projects and businesses he didn’t know anything about.
At one point, $600,000 was paid to a business started by an actor he knew, but he had not known the company associated with them – according to Sports Illustrated.
While things appeared daunting, Young took time after his bankruptcy to recover. He hired another financial advisor, started a broadcasting job with his alma mater, and forged a partnership in a trucking business and real estate firm.
Vince Young Steakhouse.