I was very sad to see a few days ago that our great, Vince Young, Texas legend, had to file for bankruptcy. When Vince left Texas early, he signed a $26 million dollar guaranteed contract over probably six years with the Tennessee Titans. This did not include any endorsements he may have obtained. The government probably took $8 million of that contract, but what happened to the rest?
Like so many other young athletes, Vince thought the well would keep flowing. He spent on a house for his mom. He spent on his friends. He made bad business deals that he apparently didn't know about or understand. He did not surround himself with people who would help him make sound financial decisions and investments.
It's sad that this happens to so many of these athletes. This is something that could easily happen to any of us who would find ourselves very rich, very suddenly, but without the maturity to know what to do with it. Vince can bounce back. He could still play. He can coach. Hopefully, a second chance will give him an opportunity to do something better with his money.
Good luck, Vince! Your restaurant in Austin is still around and is awesome. I recommend it!