The broke quarterback has been bleeding money since before he received his diploma.
Image by Rick Stewart / Getty Images
In the midst of numerous legal troubles, Vince Young was still involved in a dispute related to a lawsuit over trademark rights to his name — a lawsuit settled in 2010 — as recently as last month, court records show.
The suit, which was first brought by Young against former major league infielder Enos Cabell and two other men in 2008, was, according to court records, settled with a sealed agreement in 2010. But conflicts over payments and attempts to collect attorney fees from both sides have kept the case alive.
According to the suit, the three men trademarked the nickname "Invinceable" and Young's initials without his permission while the quarterback was still in college. Young's lawyers claimed in the suit that the trio, who didn't know Young, sought the trademarks the day after the 2006 Rose Bowl. His lawyers argued that Young's use of his nickname and initials were, in legal terms, "associated in the public mind" with him and thus owned by default. (Jeremy Lin won a similar case to trademark "Linsanity" earlier this year.)
Despite court papers attesting the groups had reached a settlement, Young's lawyers filed motions on December 16th, 2011 asking for a new trial over court, attorney and other fees (though no amount was specified). The trio who originally held Young's trademarks argued in response that they were in fact owed $71,000 in fees.
Motions from both sides were denied earlier this month, and as of mid-September, the case is closed.
Young has reportedly lost more than $26 million, for which he blames his former financial advisors, while they claim in court papers that he spent on the money paying back ill-advised loans (Young is also involved in litigation with Pro Player Funding over a defaulted loan he claims was taken out without his knowledge by his former advisors), sabotaged his own marketing strategy and gave an uncle more than $1 million for unhelpful marketing services.
The trademark suit was mentioned by lawyers representing Young's former agent, Ronnie Peoples, who countersued Young after Young sued Peoples for allegedly mismanaging and stealing millions from the one-time Texas star. According to Peoples' lawyers, the suit's slow resolution made it difficult for Young to enter into endorsement deals.