Joel R. Glucksman
Partner
201-896-7095 jglucksman@sh-law.comFirm Insights
Former Heisman Trophy Winner Decided to File for Bankruptcy
Author: Joel R. Glucksman
Date: January 30, 2014
Key Contacts
Back
There was a time when Vince Young, was the most popular man in college football.
He was a Heisman Trophy-winning quarterback from the University of Texas, who had just led the Longhorns to a BCS National Championship against the powerhouse USC Trojans. Young proceeded to be drafted 3rd overall by the Tennessee Titans in the 2006 NFL Draft. However, he never lived up to expectations, and didn’t last long in the league.
Young’s troubles didn’t end with being a failed first round draft pick, as he recently filed for protection under Chapter 11 of the bankruptcy law. The former NFL quarterback listed between $500,001 and $1 million in estimated assets, and liabilities between $1 million and $10 million.
“Vince is trying to stay low and just wants this over with,” Trey Dolezal, Young’s Austin-based personal attorney, told the Austin Statesman. “He was so happy and relieved when we reached a financial settlement, but Vince is owed several million dollars, and that has not been paid. I would say he is very frustrated.”
Unable to secure a backup job in the NFL, and facing multiple lawsuits, Young has been facing financial troubles for quite some time. During the NFL lockout in 2011, Young took out a $1.8 million loan in his own name, which has led to many costly lawsuits, as he now owes Pro Player Funding – the company that offered the loan – $2.5 million.
In response, Young filed a lawsuit against his former financial adviser, as he claims he never saw the funds from the $1.8 million loan. He said Ronnie Peoples – his former adviser and agent – conspired with Pro Player Funding to defraud him
- Industries: Entertainment & Media
- Practices: Corporate Transactions & Business, Bankruptcy & Creditors' Rights, Bankruptcy Litigation
- Locations: Red Bank, NJ, New York City, Little Falls, NJ
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
Why Secured Transactions Are Important
Secured transactions form the backbone of a wide range of business dealings, including business loans, mortgages, and inventory financing. Because the stakes are often high and relatively minor oversights can have drastic consequences, lenders and borrowers should thoroughly understand how to form an enforceable security agreement that protects their legal rights. What Is a Secured […]
Author: Dan Brecher
Don’t Cash a “Paid in Full” Check Without Understanding the Legal Implications
Cashing a check marked “paid in full” can be a risky endeavor, particularly if you don’t fully understanding the legal implications. If you are owed more than the amount of the check you accept and deposit, you may waive your right to collect the full disputed amount. That is why you should consider either rejecting […]
Author: Dan Brecher
Changes to Qualified Small Business Stock Will Benefit Startup Founders and Investors
The One Big Beautiful Bill Act of 2025 (OBBBA) significantly impacts federal taxes, credits, and deductions. A key change relating to Qualified Small Business Stock (QSBS) allows greater tax-free gains for investments in startups and other qualifying small businesses. Company founders and other investors should understand how the enhanced tax strategy works or risk missing […]
Author: Dan Brecher
Corporate Consolidation and Antitrust Issues in Mergers
Corporate consolidation involves two or more businesses merging to become a single larger entity. The result is often a stronger and more competitive company that can better navigate today’s competitive marketplace. What Is Corporate Consolidation? Corporate consolidation closely resembles a basic merger transaction. The primary difference is that a consolidation creates an entirely new business […]
Author: Dan Brecher
What is Business Law and Why Is it Important?
Business law plays a critical role in nearly every aspect of running a successful enterprise, from negotiating a commercial lease to drafting employee policies to fulfilling corporate disclosure obligations. Understanding what is business law and your legal obligations can help your business run smoothly and build productive relationships with clients, business partners, regulators, and others. […]
Author: Dan Brecher
Corporate Transactions: Best Practices for Successful Deals
Corporate transactions can have significant implications for a corporation and its stakeholders. For deals to be successful, companies must act strategically to maximize value and minimize risk. It is also important to fully understand the legal and financial ramifications of corporate transactions, both in the near and long term. Understanding Corporate Transactions The term “corporate […]
Author: Dan Brecher
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.