DALLAS – The former financial adviser for ex-NFL quarterback Vince Young says he arranged a 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 of Raleigh, N.C., said under oath during a videotaped deposition last month he contacted New York-based Pro Player Funding LLC about the loan after being informed that Young had already paid for the party.

The deposition was taken as part of a proceeding in which the former University of Texas star is challenging the validity of a $1.7 million judgment against him.

Young’s attorney says Peoples’ account is inaccurate.

Bears part with receiver Knox

The Bears terminated the contract of receiver Johnny Knox after he missed this past season recovering from a back injury.

Knox needed surgery to stabilize a vertebra after he suffered a gruesome back injury against Seattle late in the 2011 season. The Seahawks’ Kam Chancellor poked the ball out of his hands following a reception, and as Knox made a diving attempt to retrieve it, he was hit by Anthony Hargrove and bent backward.

Knox had 133 receptions for 2,214 yards from 2009 to 2011 and was a contributor on special teams with 55 kickoff returns for 1,506 yards.

Panthers stadium set for renovations

Carolina president Danny Morrison says the team plans to begin renovations on its 16-year-old stadium immediately after the 2013 season and estimates the project could take two years to complete.

Morrison says the plan calls for between $261 million and $297 million in upgrades.

The primary objectives include installing three escalators, new video and ribbon boards and an improved sound system, as well as upgrading technology and stadium infrastructure.