In a surprising turn of events, former NFL superstar Adrian Peterson has found himself in legal trouble due to unpaid debt. The retired veteran last featured a match in 2021 before calling it quits in 2023. Despite earning handsomely throughout his playing career, Peterson is now being forced to submit his assets to pay his debts. But what happened to the talented running back?
Here are all the available details regarding Peterson’s recent financial issues.
Adrian Peterson ordered to turn over assets to settle debt
At the time of writing, Adrian Peterson has accumulated a reported debt of $12.5 million. As such, the ex-Minnesota Vikings player is set to turn over his assets following a recently released court order.
Peterson initially took out a $5.2 million loan from a Pennsylvania lending company in 2016. According to the agreement between the two parties, the athlete was required to repay the entire amount with interest by March 2017. However, failure to settle that debt eventually led to a $8.3 million judgment against Adrian Peterson in 2021. Additionally, the receiver’s court filing also piled on $15,000 in attorney’s fees alongside 9% per annum on all sums. This has ultimately taken the retired sportsman’s debt amount to a mind-boggling $12.5 million.
As per the contract, Adrian Peterson took the debt to settle other financial commitments. Having recovered from a knee injury in 2016, the team denied him the $18 million option on his Vikings agreement. This led the running back to temporarily become a free agent. The scuffle also put a massive dent in his future earnings, as Peterson never exceeded $3.5 million a year in pay after that.
In order to curb the debt situation, a Houston judge has ordered Adrian Peterson to relinquish his assets. He has also instructed constables to accompany the court-appointed receiver when the transaction will be conducted, per USA TODAY Sports. The order comes after the receiver, Robert Berleth, submitted an appeal in July, highlighting Peterson’s assets in Texas.
The NFL icon played his final game in the league in 2021. In 2022, he became a free agent for the second time in his career. Peterson ultimately embraced retirement after no team signed him ahead of the 2023 season.
