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Vince Young

$1.69 Mil Mistake -- Failed

to Repay 'Lockout Loan'

8/10/2012 8:22 AM PDT BY TMZ STAFF

Vince Young is in trouble ... the struggling NFL star is on the hook for $1.69 million ... after failing to pay back a high risk, high interest "lockout loan" that he took out back when he was a member of the Tennessee Titans ... this according to court docs.

According to court docs obtained by TMZ, Vince went to Pro Player Funding in May 2011 -- during the middle of the NFL lockout -- and took out a loan for $1.876,876.88. PPF is a company which specialized in "lockout loans" for NFL guys looking to cover their bills during the pay freeze.

Young's loan was VERY high risk ... with high interest rates and a clause that allowed PPF to call in the entire amount due, plus interest, if Vince missed ONE payment.

And according to court docs, that's exactly what happened in May 2012 ... right after Young left the Philadelphia Eagles and signed a new deal with the Buffalo Bills, he missed his payment.

PPF instantly went to the court and obtained a judgment against Young ... ordering the NFL star to pay back the remaining balance on his loan ... plus interest ... totaling $1.69 million.

The number is close to the salary Vince will be making with the Bills this season -- he signed a 1-year deal worth $1.9 mil.

Young's situation is virtually identical to Baltimore Ravens lineman Bryant McKinnie ... who took out a $4 million loan with PPF on the eve of the 2011 NFL lockout ... and also didn't pay it back.

Bryant reportedly struck a settlement deal with PPF earlier this week ... agreeing to pay half of the $3.2 he's scheduled to make with the Ravens in 2012.

During the lockout, several NFL players spoke out against loans of this sort claiming they weren't in the best interest of the players ... and now Young and McKinnie seem to be living proof.

The loan drama is just the latest legal nightmare for Young ... the QB recently sued his former agent  and financial advisor for allegedly cheating him out of $5.5 million Vince was supposed to have earned in his rookie contract and through endorsement deals.

10:02 AM PT -- Vince's rep tells TMZ ... Young blames his former financial advisor, Ronnie T. Peoples, for pushing him to take out the loan.

The rep adds, "Vince is currently involved in litigation after he filed suit against Mr. Peoples for misappropriating millions. Vince has brought in a new team that are in the process of correcting the prior mismanagement.”

For more sports stories, check out tmzsports.com!

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why did he need all that money in the 1st place.

770 days ago


Athletes are terrible with money

770 days ago

Harlin's Garage    

VY is an elite Quarterback.... Hook'em!

770 days ago


Those crooks are legalized loan sharks.

770 days ago


There is nothing "high risk" about simply making your payments on time.

770 days ago

Mystery Guest    

Geez, do these guys spend every penny they make and not save ANYTHING?

770 days ago


Mamma raised a fool,

770 days ago


I'll bet anything he didn't even bother telling the loan company he couldn't make the May payment. Had he told him (and showed them proof) that he was transitioning between two teams they very likely would have worked out something for that month. When you don't pay and don't contact loan companies they get nervous and call the loan due.

770 days ago


Who's Vince Young?

770 days ago

Toby Weymiller    

He's plays bad and he's smelly. Bad combination.

770 days ago


Not his first mistake. But one of his most expensive.
I hope he gets the drama out of his life. Also this is why you finish college before going big time. Was great as a college player SUX as a NFL player.

770 days ago


I'm proud of you guys/girls........No Negative Racial slurs or anything. I was sure I would see a couple in the first set of comments, but I was wrong. It is time we start judging individual people for who they are and what they did as a single person and not for the color of their skin or ethnicity they are. Because there are bad and good Whites, Blacks,Asians, Mexicans, Indians, and etc..........Although I think TMZ post some of these stories on purpose for a Racial reaction, I'm glad that on Occasion the people will not fall for the tricks.

770 days ago


Not in the best interest of the players? What does a guy earning $1.9m need with an emergency loan for almost that amount? Clearly your living expenses are far too high for what you earn!

770 days ago

Jay W.     

That's a damn shame. That Vince is an idiot.

770 days ago

Who Knew    

Vince Young has all that natural physical talent, unfortunitly for him he has the brain of a 5 year old.

770 days ago
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