A former financial adviser for ex-NFL quarterback Vince Young said under oath he arranged a loan for Young during the 2011 lockout because the player wanted to throw himself a $300,000 birthday party — even though he was running low on funds.
DALLAS — A former financial adviser for ex-NFL quarterback Vince Young said under oath he arranged a high-interest, seven-figure loan for Young during the 2011 lockout because the player wanted to throw himself a $300,000 birthday party — even though he was running low on funds.
Ronnie Peoples, president and CEO of Peoples Financial Service Inc. in Raleigh, N.C., said during a Jan. 16 videotaped deposition he contacted New York-based Pro Player Funding about the loan after being informed Young had already paid for the party.
“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.”
A transcript of Peoples’ deposition was obtained by The Associated Press.
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Young’s attorney, Trey Dolezal, said Peoples’ account contains numerous inaccuracies, including the statement regarding the birthday celebration.
“I have no idea what he’s talking about with the birthday party, and neither does Vince,” Dolezal said.
Young is challenging a $1.7 million judgment obtained against him in New York in July by Pro Player. The sum represents the balance of $1.9 million borrowed at 20 percent interest in the former Texas college standout’s name in 2011. Young, who has been out of football since he was cut by the Buffalo Bills before last season, was one of more than a dozen NFL players who obtained loans from Pro Player during the lockout.
Young testified during a deposition in December 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 and never sought one.
That account was disputed by Peoples, who testified he personally discussed the loan with Young at a meeting in Houston. The loan closed a day before Young’s 28th birthday.
• The Chicago Bears terminated the contract of receiver Johnny Knox, who missed last season while recovering from a back injury suffered against the Seahawks late in the 2011 season.
Knox, 26, had 133 receptions for 2,214 yards from 2009 to 2011.