The loan was issued by Pro Player LLC, who concluded that Young still owes his planner and agent a $1.7 million balance. Pro Player gave out more than a dozen loans to NFL players during the lockout.
From the AP:
[Young] testified during a deposition in December that he “probably” signed some of the loan documents 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.
That account was disputed by Peoples, who testified that he personally discussed the loan with Young at a meeting in Houston.
Moreover, funds from the loan, which closed a day before Young’s 28th birthday, were used to satisfy the quarterback’s “obligations,” Peoples said.
And what obligations would those be? The Financial Planner cleared the air in a videotaped deposition last month:
“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.”
::Sigh:: and we actually thought an NFL player wasn’t in the wrong in a financial battle. Fame is clearly impairing Young’s ability to deal with any financial matters rationally as he apparently believes a $300,000 dollar birthday party is a necessary investment.
Sean Levinson | Elite.
