How can it be? Doesn’t he have a college degree?
This is exactly why there are disparities in wealth between individuals.
You can lead a horse to water (in this case, prudent financial advice) but you can’t make him drink. The culture needs people who blow it, spectacularly, to serve as counterexamples for posterity.
Rumor has it he was dropping thousands a day taking “friends” out to restaurants, bar, and events.
I understand what you are saying, but that is too “Democrat” for my book. They are adults and certainly many are doing fantastic with their money. In every walk of life, a certain percentage are going to screw up. We cannot have an even more nanny state then we have already.
1) Declare bankruptcy.
2) Get a job.
3) Stop living like a drunken sailor on shore leave.
Car dealers, realtors, jewelers, night clubs love guys like Vince and lick their chops when they see those big salaries.
But I don't think it justifies a nanny sate approach by the NFL. People just need to learn not to be fools.
Agree that most of the money paid to young athletes should be placed in trust. However it will never happen. Try telling a twenty two year old pampered athlete that he is simply not mature enough to manage his money. Yet it is a good idea.
“I think pro sports leagues need some sort of trust system so athletes are unable to blow through their salary in a few years.”
Isnt that what finacial advisors are for? Having said that, if one doesn’t heed the advice then its too damn bad.
The answer is don’t pay players 25 million dollars. Lower ticket prices so that fans can better afford to go to games.
It's not the league's responsibility to look after a grown-ass man's personal business.
They should feature this dumb $hit on Lottery Losers.
To spend that much, as well as run up that much debt, he would have had to spend about $10,000 a day.
A good education might work, like bringing back a classical K-12 education, with Home Economics classes in Jr. High?
And if that doesn't work, life accepts the applications from people like Vince Young every day to demonstrate for the rest what to do and what not to do in order to live life according to the rules the world actually runs on.
Horse, meet water.
Really sad. I hope someone has befriended the young man and is keeping a suicide watch. He needs serious help.
This is just a variation on the theme where you hear of people winning a state lottery of millions and then managing to blow every single dollar of it. I remember seeing TV shows where they document what these people bought; mountains and mountains of stuff (ex. not 1 or 2 or 3 Rolex watches but hundreds of them, etc.).
No matter how much money one might get, there is always a way to blow it all. Just ask the Feds.
A financial adviser is just that - an adviser, not a controller. If the person doesn’t heed the advice, well then.
For those blaming The U of Texas, or any school, I read 78% of all NFL athletes are broke within 5 years of retirement. MOST of them are idiots, and Vincy is one of the kings of that catagory. My biggest complaint is that your child or mine might not get into his school of choice yet a football player who can’t read and you know can’t do college algebra gets in, gets it paid for, and gets a tutor doing the work for him.