Vince Young Broke

[gnadfly]

You know these guys get paid to take blows to the head?

Don't blame the NFL. They have several mandatory programs all the rookies take to warn them about leeches and teach them basic money management skills.

Vince Young had the best game of his life on live TV for the national collegiate championship. He is not an NFL type QB. He ended up costing Jeff Fisher his job.

At least Vince Young gave it a honest effort - unlike JaMarcus Russell.

[Randy4Candy]

Ah, athletics, that bastion of rugged individualism, metaphor for how to get ahead in the world, builder of character, etc., etc., etc.

Well, actually a lot of that is right - uh, ummm, make that it was right 40 years+ ago. Do we all not know in our home towns the ex-high school sports hero who had their greatest moment at age 16-17 and went on to a life of monumental underachievement (trying to be kind here)?

In today's times, with all of the cash that's awash in the college and professional level, there's a lot of pressure for "the system" to coddle, give passes to, and otherwise promote "the kid with the golden arm," legs, whatever, so as not to potentially damage his ability to "make it." Granted, the ones who do make it do a lot more than just stand around and let it happen to them. There's a lot of very hard work and time spent to develop even great skills. Unfortunately, none of that time is spent in developing much outside the realm of their athletic specialty. And, given the fact that a lot of these stud athletes come from backgrounds that are unaccustomed to dealing with even moderate sums of money on a regular basis and unskilled at finances in general, what should we expect?

It's not really a question of effort or a willingness to "do what it takes," it's a question of being able to figure out where to make the effort. The post above by gnadfly regarding the dichotomy between Vince Young and JaMarcus Russell is a perfect example.

[Guest032516]

Originally Posted by oden

I heard 87% of NFL players retire broke.

That's a questionable statistic.

How do they even measure it? What does "retire" mean in the NFL?

I read somewhere that the average player spends only 4-5 years in the NFL. It sound ridiculously low at first, but after second thought I realized it was true. Many players are gone after only 2-3 years, a bunch more are gone after 5-6 years. Only a very few ever get to 8 years.

So, if you play 4 years for a team or two, get cut and don't get picked up by another team, you will be about 27 years old.

Is that really retired from the NFL? It is more like 87% of players pass through the NFL before getting real jobs.

So, the majority of NFL players player only a few years and most don't make big bucks. They make only $200K-$300K for those few years. That won't last a lifetime.

On the other hand, you have guys like Emmit Smith who are well-known tightwads. I hear Emmit still has the first dollar he ever made in the NFL.

[CJ7]

not all college stars thrive in the NFL .. Vince was one ..

[Guest032516]

Originally Posted by CJ7

not all college stars thrive in the NFL .. Vince was one ..

Matt Leinart is another.

[Texas Contrarian]

I saw a story earlier this week on Vince Young's predicament.

Sorry I can't find a link, but the gist of it is this:

Attorneys for Young, his agent, and a "financial planner" are battling over the extent to which his problems were caused by out-of-control spending or clueless, possibly crooked advisors. Apparently he is suing a former agent for about $5 million, alleging that he teamed up with an accomplice to rip off Young by forging signatures and impersonating him in emails.

Additionally, the report indicated that Young made a number of other bad decisions and very bad investments recommended by inexperienced and incompetent advisors, one of whom was his uncle.

It's sad to see anyone throw away financial security in such a manner, but it's hardly unique.

Just look at the case of Nicolas Cage. Of course, he made far more money than Vince Young could have possibly dreamed of. But bad advice, bad investments, and a penchant for buying multiple houses each worth eight figure amounts did him in.

Antoine Walker and Terrell Owens each made more than $100 million during their careers, but now they're both flat busted.

Seems like I recall reading that Mike Tyson pissed away as much as $300 million.

There are probably hundreds of cases of less well-known athletes and entertainers suffering similar fates on a smaller scale.

[Squarenot]

Roger Staubach, U.S. Navel Academy and former Dallas Cowboys QB, made out pretty good after the NFL. Seems to be the exception.

[CJ7]

Originally Posted by Squarenot

Roger Staubach, U.S. Navel Academy and former Dallas Cowboys QB, made out pretty good after the NFL. Seems to be the exception.

and took Troy and Emmitt with him


Big E after football ..

Smith approached Staubach the way he did Jones. Staubach invited him to work at his company during the summer to learn the ropes. He was impressed by Smith's commitment and eventually helped him form Smith Cypress Partners in 2005.
One of the first deals Smith put together was a $45 million mixed-use project in Phoenix. He was primarily in retail development with Staubach but wanted to broaden his reach. Smith liked the model of Magic Johnson Enterprises, which goes in and revitalizes blighted urban areas. He broke off and formed ESmith Legacy three years later.
The company has offices in Dallas, Baltimore and Philadelphia and is 100 percent minority-owned. The Zenith is a $48 million project with 191 luxury units and 6,000 square feet of retail space in Baltimore. Then there is 414 Water Street, a 31-story, luxury condominium project with views of Baltimore's Inner Harbor. That cost $49 million.
What excites Smith most is what he calls the Harlem project, a vacant site at 125th Street and Lenox Avenue that will be transformed by a major hotel, supermarket chain and the Y. The $81 million project has the blessing of city officials and has received $20 million in federal tax-exempt financing. It is projected to create 129 construction jobs and 81 permanent jobs after the work is complete.
Smith's company also has entered into a partnership with Learning Links Center, a California-based firm that will help it refurbish a 326-unit apartment complex in North Dallas.

[Texas Contrarian]

Originally Posted by Squarenot

Roger Staubach, U.S. Navel Academy and former Dallas Cowboys QB, made out pretty good after the NFL. Seems to be the exception.

True that!

And back at the time, stars earned a very tiny fraction of the megabuck salaries they pull down today. I remember hearing that Roger's contract -- even during his later years -- provided him less than $300K/year. That lands a bit short short of the 7-figure range even if you adjust for inflation. Nowadays, of course, the bidding would start at something like fifteen times that for a QB who was obviously headed to the Pro Football Hall of Fame.

Staubach was a visionary who was instrumental in pioneering the concept of "tenant representation" in office leasing. He is greatly respected by virtually all of those with whom he came in contact.

Great story about Emmitt Smith, CJ7. I knew that he had begun an apparently very successful association with Staubach, but didn't know all of those details.

Observers of the sports world have seen plenty of failures, but some very savvy movers and shakers as well.

[Guest123018-4]

Roger staubach is not a Democrat.

[pyramider]

Originally Posted by gnadfly

At least Vince Young gave it a honest effort - unlike JaMarcus Russell.

No he didn't put in a honest effort. If he put in a honest effort he would still be in the NFL.

You ever wonder why the Texans did not take Young in the draft?

[cptjohnstone]

Originally Posted by Randy4Candy

In today's times, with all of the cash that's awash in the college

.

yea, you and Barry would know something about that

[gnadfly]

Originally Posted by pyramider

No he didn't put in a honest effort. If he put in a honest effort he would still be in the NFL.

You ever wonder why the Texans did not take Young in the draft?

What makes you think he didn't put in an honest effort? Other than that time he had a nervous breakdown, he was in camp and in shape. I never heard of him missing meetings. Didn't have a drug problem. In his second season with Tennessee he announced that he was going to be the team leader and took strides to make it happen. It just didn't happen for him. He didn't have NFL talent. There are a ton of guys who bust butt and are only lucky to play a year or two.

I wonder why the Texans (or anyone) considered taking him in the draft. Too many people are in love with the "athletic QB." Bud Adams was one of them.

[gnadfly]

Originally Posted by The2Dogs

Roger staubach is not a Democrat.

Anybody else remember:

"I talked to my daughter Amy about the bomb."

[Fast Gunn]

I don't think the problem was that he didn't play hard enough. He played really hard with the big boys and did well, at first then something happened. His head was not in the game because he has not matured enough to focus on the main thing which is football, not pussy and not money.

. . . The problem was that he let his swindling uncle in to guard the treasure and what do you think happens once you give up control of your money?

Originally Posted by pyramider

No he didn't put in a honest effort. If he put in a honest effort he would still be in the NFL.

You ever wonder why the Texans did not take Young in the draft?