Young, who is eight years removed from starring in one of the best games in Rose Bowl history, filed for Chapter 11 bankruptcy protection last week according to the Houston Chronicle. Young, who is 30, has been embroiled in two ugly lawsuits dating back to the 2011 NFL lockout. From the Chronicle:
listing Young with estimated assets between $500,001 and $1 million and liabilities between $1,001,000 and $10 million.
When the 2011 lockout hit, Young – whose rookie contract guaranteed him $25 million – took out loans, but either made poor decisions or was swindled. More from the Chronicle:
Documents filed in the Peoples case include a financial statement as of July 2013 that listed Young and his wife, Candice, with assets totaling $1.8 million and liabilities totaling $2.5 million, including the New York state judgment. Young’s assets included five cars, his home, NFL annuity and 401(k) funds and jewelry valued at about $200,000.
Young was released by the Green Bay Packers just prior to the 2013 season, and despite many teams needing a quarterback in 2013, he didn’t get picked up. Is Young’s career already over?
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