Ronnie Peoples, a former financial advisor for former NFL quarterback Vince Young, said Young took out a seven-figure loan during the 2011 lockout in part because Young wanted to throw a $300,000 birthday party for himself.
Peoples made the statement during a deposition for a case in which Young is challenging a $1.7-million judgment against him by Pro Player Funding LLC, a lender that specializes in lending to pro athletes. Young had borrowed $1.9 million at 20% interest from them in May 2011.
“I think we still would have been OK to go ahead and survive until the next season, but he had a birthday event coming up that he paid 300 and some thousand dollars for,” Peoples testified. “That's what prompted that call.”
Young's attorney, Trey Dolezal, denied the loan was for a party. "I have no idea what he's talking about with the birthday party," Dolezal told the AP, "and neither does Vince."
Peoples said Young's monthly expenses were unpredictable, sometimes running as high as $200,000.
“It's almost like I can have a $30,000 budget that I know we had to pay here, but then, you know, I get an invoice for a Ferrari that he just bought for $176,000, and they want their money,” he testified.
Young has not played in the NFL since he was released by the Buffalo Bills before last season. He signed a guaranteed $26-million contract with the Tennessee Titans after he was drafted in 2006.