It is always sad and shocking to see people with money burn through it all. Such is the case of Vince Young.
Vince Young may have possessions seized to pay off $1.7 million loan | Shutdown Corner - Yahoo! Sports:
"Young's fall has been precipitous....Young signed a contract in July 2006 that, in theory, could have set him up for life. The No. 3 overall pick of the 2006 NFL draft, Young's six-year contract with Tennessee was worth just over $48 million, had a maximum value of $57.79 million, and contained $25.74 million in guaranteed money. Of that initial contract, Young earned over $30 million, as well as another $4 million from Philadelphia in 2011. He'd tried to catch on with Buffalo before the 2012 season, but Bills officials hinted that Young's financial troubles, and the concern about their effects on his psyche, were part of the reason he was cut."
Interesting to see that the Modigliani and Miller assumption of operations being independent of finances was broken here in the eyes of the Bills.
How do you go through that much money? One way is to (ALLEGEDLY) throw yourself a $300,000 birthday party.
That is taking Jensen's Free Cash Flow problem hypothesis to the extreme!
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