Vince Young needed loan for $300,000 party

· February 12, 2013

The former financial adviser for ex-NFL quarterback Vince Young said under oath that he arranged a high-interest, seven-figure loan for Young during the 2011 lockout because the player wanted to throw himself a $300,000 birthday party even though he was running low on funds.

Ronnie Peoples, president and CEO of Peoples Financial Service Inc. in Raleigh, N.C., said during a videotaped deposition last month that he contacted New York-based Pro Player Funding LLC about the loan after being informed that Young had already paid for the party.

“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.”

A transcript of Peoples’ deposition, taken Jan. 16 in Raleigh, was obtained by the Associated Press.

Young’s attorney, Trey Dolezal, said Peoples’ account contains numerous inaccuracies, including the statement regarding the birthday celebration.

Young is challenging a $1.7 million judgment obtained against him in New York last July by Pro Player. The sum represents the balance of $1.9 million borrowed at 20% interest in the former University of Texas star’s name in May 2011. Young, who has been out of football since he was cut by the Buffalo Bills before last season, was one of more than a dozen NFL players who obtained loans from Pro Player during the lockout.

He testified during a deposition in December that he “probably” signed some of the loan docu*ents in the presence of a notary at a law office in Houston. But he said he had no need for a loan, never sought one and didn’t have access to the proceeds.

Young is challenging a $1.7 million judgment obtained against him in New York last July by Pro Player. The sum represents the balance of $1.9 million borrowed at 20% interest in the former University of Texas star’s name in May 2011. Young, who has been out of football since he was cut by the Buffalo Bills before last season, was one of more than a dozen NFL players who obtained loans from Pro Player during the lockout.

He testified during a deposition in December that he “probably” signed some of the loan docu*ents in the presence of a notary at a law office in Houston. But he said he had no need for a loan, never sought one and didn’t have access to the proceeds.

  • Queso (The Corp)

    Niccas need to get their priorities in order.

  • http://atlnightspots.com Rasheed Lateef

    this is the same guy who once had a $26 million rookie contract with the Titans. He was cool to watch with them as well..he fell off once he went to Philly. Get it together,bruh.

  • Ice

    Wow.

  • Ramw

    This is why the black community can t own any of the businesses in our neighborhoods…

    • Pose

      +1

      Too many acting like this fool.

    • Mister Mister

      True, $300K could have brought a couple franchises. These bammas need to holla at Jamal Mashburn. Show them how to make more money once out the league

      • MoorFedayeen

        White guy once told me “Never matters if a n1gger gets wealthy selling dope or just by luck. He’s already been programmed to give all back in a hurry thanks to the hip-hop way of life we push on him. Creating a business is the last thing on his mind.”

  • QueT

    dumb ass…

  • presto 2.5

    Signed contracts for the loan in front of a notary…but didnt need the loan??

    this boy got head problems…we all kno this…so stop act’n like the nicca aint slow…lol

    • MoorFedayeen

      Yea 20% interest rate is f*ckin outrageous. He need his azz kicked up and down the field

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    the gift that keeps giving (black talent).. where are the women?

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