NFL's Adrian Peterson deep in debt despite $100M in career earnings
Washington Redskins star Adrian Peterson is deep in debt and owes millions of dollars to multiple lenders despite roughly $100 million in career earnings during his lengthy NFL career.
In a lawsuit filed in New York state court, Pennsylvania-based lender DeAngelo Vehicles Sales alleges that Peterson defaulted on a $5.2 million loan – money that he purportedly used to pay off other debts. The company claims that Peterson owes $6.6 million after interest and legal fees.
The lawsuit surfaced just weeks after a Maryland judge ordered Peterson to pay $2.4 million to lending firm Democracy Capital Corp. to settle a debt stemming from defaulted loan. In total, Peterson is said to owe $3 million to two creditors, in addition to the $6.6 million sought in the DeAngelo Vehicle Sales lawsuit.
"The truth behind Adrian Peterson's current financial situation is more than is being reported at this time," Peterson's attorney, Chase Carlson, said in a statement. "Because of ongoing legal matters, I am unable to go into detail, but I will say this is yet another situation of an athlete trusting the wrong people and being taken advantage of by those he trusted. Adrian and his family look forward to sharing further details when appropriate."
Peterson is the highest-earning running back in NFL history, with a career haul nearly 50 percent higher than his nearest competitor at the position. He is set to surpass $100 million in earnings during the 2019 NFL season.
The Athletic was first to report on the lawsuit.
Peterson is one of many pro athletes who have amassed fortunes during their playing careers, only to go broke after retirement. Former NBA star Antoine Walker declared bankruptcy in 2010 after blowing $108 million, he told FOX Business in 2016.
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According to court documents, Peterson took the initial $5.2 million in 2016, while still a member of the Minnesota Vikings. The franchise cut Peterson after the 2016 season.