Vince Young files for Chapter 11 bankruptcy


Photo Credit: Elisabeth Dillon | Daily Texan Staff

Since leaving Texas for a career in the NFL, Vince Young has had trouble both on and off the field. Now, nine years after winning a national championship for Texas, Young has filed for Chapter 11 bankruptcy.

Attorney Brian Kilmer, who was unable to be reached for comments, filed a voluntary petition in the federal bankruptcy court in the Southern District of Texas for Young. The document, filed Friday, states Young’s assets are between $500,001 and $1 million while his liabilities are estimated between $1,000,001 and $10 million.

Young is indebted to approximately 20 individuals and companies, including the Pro Player Funding, which has been after Young since he defaulted on a loan he took out in 2011. Young obtained about $1.7 million from the New York lender during the NFL Lockout. Young claims to have had no involvement in the obtaining of the loan or the takings. He has since filed a lawsuit against his former agent, Major Adams, and financial planner, Ronnie Peoples, both of whom he says took the money for their keepings. 

Young, a 30-year-old Houston native, has been criticized in the past for being irresponsible and an out-of-control spender. Young is currently left with little from a contract that guaranteed him $26 million, as attorneys argue what happened to it.

After leaving Texas his junior year, Young was the third player taken in the 2006 NFL draft. He played four seasons with the Tennessee Titans and appeared in two Pro Bowls before becoming the backup for the Philadelphia Eagles. After the Buffalo Bills cut him in 2012, Young had a chance to get back in the NFL but was released within a month of signing with the Green Bay Packers at the start of this season.