1. SPENDING SPREE

    Vince Young Goes Bankrupt

    Tom Mihalek/Reuters

    Apparently he took financial advice from Latrell Sprewell. Former Texas star quarterback and NFL flameout Vince Young has filed for Chapter 11 bankruptcy protection. Young was paid $34 million over six NFL seasons, but has not played a game since 2011, and has been cut by the last two teams to bring him on. His petition estimates assets between $500,001 and $1 million, with liabilities between $1,001,000 and $10 million. Young joins a long list of NFL players to have declared bankruptcy. According to a 2009 study, 78 percent of former NFL players file for bankruptcy or are under severe financial distress within two years of retirement.

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