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Former first round draft pick, Vince Young, is broke

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Being picked in the NFL Draft is supposed to set you up for life. 

Hearing your name called means multi-million pound contracts and the end of financial worries - or that is what is supposed to happen.

Unfortunately for 2006's third overall pick, Vince Young, fate has led him on a different path.

The 30 year old free-agent quarterback has, according to the Houston Chronicle, filed for bankruptcy protection this past week.

With his rookie contact with the Tennessee Texans guaranteeing Young $26 million, it might seem hard for someone to lose it all so quickly.

But then again, professional athletes are not particularly known for their frugal saving.

Young's current position is believed to stem from two lawsuits connected to a $1.8 million loan taken out during the 2011 NFL lockout.

Young's former financial adviser testified in 2013 that this loan had been arranged largely in order to fund the player's birthday party - which was set to cost $300,000.

And since then the company that provided this cash outlay - Pro Player Funding - has not seen this money be repaid, meaning the figure now stands at around $2.5 million after interest.

The free-agent had been under contract with both the Buffalo Bills, and the Green Bay Packers last season, but did not feature in a single regular game.

Young's estimated assets are thought to be between $500,000 - $1,000,000, this includes five cars and $200,000 worth of jewellery.

His liabilities are listed as between $1,000,001 - $10,000,000.

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