A Houston judge has ordered former NFL MVP Adrian Peterson to turn over assets to address the massive debt he has accrued.
Per a court order obtained by USA Today, a judge has ordered constables to accompany debt collector Robert Berleth to Peterson’s Missouri City, Texas, to seize his assets and pay off $12 million in debt.
Entertainers & Athletes Group, the public relations firm representing Peterson, issued a statement to Field Level Media on Tuesday stating “every effort to resolve this issue has been rejected” and “attempts at an amicable settlement have been rebuffed.”
“The article that has surfaced contains no new information. Adrian Peterson has been dealing with this lawsuit since 2017, which stems from a business loan arranged by his then-financial advisor, Jeff Wiseman. The loan was for a company co-owned by Peterson, Wiseman, and another partner. As the majority owner, Peterson was made the guarantor of the loan, making him solely responsible for the collateral,” EAG CEO Denise White said in a written statement.
“Wiseman assured Peterson that the company would be able to repay the high-interest loan, as the funds were used to purchase equipment for the business. This was not a personal loan taken out by Peterson but a business loan, and Wiseman guaranteed that it would be repaid from the company’s profits. Unfortunately, the company failed to repay the loan, leaving Peterson financially liable for the debt. Meanwhile, Wiseman, who advised Peterson to take out the loan, has not faced any financial or legal responsibility regarding the matter.”
The 2012 NFL MVP retired from the game in 2021 after a 14-year career.
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Sportrac puts Adrian Peterson’s career earnings at $103.2 million, and today, it appears he has none of that money to his name.
He once had a contract with the Vikings in 2011 that was worth up to $96 million. He was named the NFL Most Valuable Player in 2012 and earned Pro Bowl honors on seven occasions.
During Adrian Peterson’s 14-year career, he played for the Vikings, New Orleans Saints, Arizona Cardinals, Washington Redskins, Detroit Lions, Tennessee Titans and the Seattle Seahawks.
Also Read: NFL Legend Adrian Peterson Responds To Nasty Rumors About Himself, Threatens Lawsuit (VIDEO)
Even in the latter stages of his career, he struggled with finances.
Adrian Peterson Never Paid Back Loan He Took out In 2016
A Houston judge has ordered Adrian Peterson to turn in assets to help pay back his debt, which is estimated to be north of $12 million.
This stems from an ongoing legal battle that started with the former All-Pro running back taking out a loan from a Pennsylvania lending company in 2016.
Peterson originally took out a $5.2 million loan with the intention of paying it back.
Nine percent interest per annum plus attorney’s fees led to a $8.3 million judgment against Peterson five years later.
Since it still hasn’t been paid off, Adrian Peterson now has to sell assets to get that $12.5 million loan off his back.
Also Read: NFL Fans Are Concerned About Former Superstar RB Adrian Peterson Following Devastating News
