Former NFL quarterback Vince Young has formally filed for bankruptcy, according to the Houston Chronicle.
The newspaper reports the former University of Texas star has been the subject of two recent lawsuits stemming from financial issues that arose in the wake of the the 2011 NFL lockout.
The Chronicle adds Houston-based attorney Brian Kilmer filed the petition last week in federal bankruptcy court on Young's behalf. In the documents, he estimated Young's assets equate to between $500,001 and $1 million and his liabilities are between $1,001,000 and $10 million.
Over the last year, Young, 30, has been locked in a pair of lawsuits stemming from a $1.8 million loan obtained in his name during the 2011 lockout. A New York state court previously granted a judgment against the former first round draft choice to Pro Player Fund and the amount he owes has now grown to more than $2.5 million given all it's still calculating interest.
Young subsequently sued a group that included his former financial advisor and his one-time agent, Major Adams III, charging he was defrauded and never received any of the money from the loan.
A graduate of nearby Madison High School, Young led Texas to the Bowl Championship Series title in 2005. He played for the Tennessee Titans from 2006-10 and for the Philadelphia Eagles in 2011.
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