Vince Young, the former University of Texas and NFL quarterback, has filed for chapter 11 protection in the wake of a series of on- and off-field setbacks, the Houston Chronicle reported today. The chapter 11 petition, filed late last week, estimates Young’s assets between $500,001 and $1 million and liabilities between $1,001,000 and $10 million. A 2013 financial statement listed assets of Young and his wife, Candice, at $1.8 million and liabilities at $2.5 million, but an updated, detailed report has yet to be filed with the bankruptcy court. Young, who according to the Associated Press was paid $34 million in six NFL seasons, has not appeared in a regular-season game since 2011 and was cut by the last two teams that signed him. He has spent the last two years embroiled in a pair of lawsuits stemming from a $1.8 million loan obtained in his name during the 2011 lockout that attorneys say may have been the factor that tipped him into bankruptcy.
