Vince Young Broke: Possessions Seized, Will Be Sold At Auction To Cover $1.7 Million Loan Debt To Pro Player Funding

on July 26 2013 9:41 AM

Free agent NFL quarterback Vince Young has struggled to find a new team so authorities have found another way to collect on his debt. Authorities will  sell the 30-year-old professional athlete's possessions at auction to cover his $1.7 million debt to Pro Player Funding of New York, reports said.

Three Harris County officers took inventory of possessions in Young’s Houston mansion, including “furniture, jewelry, [and] artwork” to determine the value of his personal property, local television station KHOU reports. Young was allowed to keep $60,000 worth of belongings as “exemptions,” but the rest will likely be sold at auction to cover the loan payment.

Young’s financial debt originated during the 2011 NFL lockout, when he received a high-risk $1.9 million loan from Pro Player Funding, Yahoo Sports reports. The former University of Texas standout eventually defaulted on the loan, with Pro Player ultimately obtaining a $1.7 million judgment against him.

Sean Bellew, attorney for Pro Player Funding, told KHOU that the decision to auction off Young’s possessions is a “last resort.”  Young is fighting the court’s ruling, claiming that he was deceived by former financial adviser Ronnie Peoples.

Meanwhile, Trey Dolezal, Young’s attorney, referred to the forced auction as “guerilla tactics” enacted by Pro Player lawyers. He has sought a temporary court order to block the visit, KHOU reports, but the motion was denied.

The apparent auction is just the latest in a series of financial setbacks for Young. The former Tennessee Titans star previously claimed that Peoples and Major Adams II, his former agent, manipulated him into the loss of nearly $5.5 million, Yahoo Sports reports. According to Young’s lawsuit, the pair “falsified documents and forged his signature.”

As the No. 3 selection in the 2006 NFL Draft, Young once signed a 6-year, $48 million contract with the Titans, $25.74 million of which was guaranteed, Yahoo Sports reports. In 2012, Young signed with the Buffalo Bills only to be cut before the start of the season. At the time, Bills' executives hinted that Young’s debts and their effect on his overall mindset factored into the decision to release him.

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