Vince Young explains financial woes

Vince Young
Vince Young was cut by the Buffalo Bills in August.
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Former NFL quarterback Vince Young is downplaying what he calls ''unfortunate'' financial problems caused by the ''betrayal'' of trusted advisers.

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Sports stars make loads of cash but they don't always hang on to it. Check out athletes who went bankrupt.

''Yes, I need a job, who doesn't. Yes, I want to be out there playing the game I love and earning a paycheck, who wouldn't?'' Young wrote on his Twitter account Wednesday.

Young has been out of a job since he was cut by the Buffalo Bills in August. The tweet came after an Associated Press story detailed a series of legal entanglements over his finances and quoted his attorney as saying of the former Texas star's financial status: ''I would just say that Vince needs a job.''

Young, who received a contract that guaranteed him $26 million when the Tennessee Titans made him the third player taken in the 2006 draft, also wrote that he is working to rectify financial losses ''which stemmed from betrayal by those I trusted most.''

Young is suing his former agent, Major Adams, and a North Carolina financial planner, Ronnie Peoples, claiming they misappropriated at least $5.5 million of his money.

Young also alleges that the pair took out a loan for nearly $1.9 million in his name without his knowledge during the NFL lockout in 2011 and kept the proceeds for themselves.

The lender, Pro Player Funding LLC, has obtained a judgment against Young for the balance of the high-interest note, a sum of nearly $1.7 million.

Young was the first client of a company formed by Adams, a Houston criminal defense attorney, and the quarterback's uncle, Keith Young, a former middle school teacher.

Attorneys for Adams and Peoples claim their clients have done nothing wrong and that Young's spending habits have put him deeply in debt.

The Twitter message is the first public comment on the matter from Young, who has declined interview requests.

Tagged: Vince Young

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