Former NFL MVP Adrian Peterson ordered to hand over assets to pay off massive debt

Adrian Peterson has been ordered by a Houston judge to hand over several assets to help pay off his debts, estimated at more than $12 million. It’s the latest in an ongoing legal battle that began with the former All-Pro running back taking out a loan from a Pennsylvania lending company in 2016 that was intended to pay off other lenders, according to court records (via USA Today).

Peterson did not pay it back and it has since grown with interest, leading to an $8.3 million judgment against him in 2021.

Peterson reportedly planned to repay his initial loan in March 2017. He was seeking an advance on an $18 million contract between himself and the Vikings that never happened after the team declined to pick up his option and thus making him a free agent. The loan sought by Peterson was intended to “reduce rates and defer payments on an existing unsecured loan.”

In a statement, Pietersen said he tried to reach a settlement with the lending company but was unsuccessful.

Peterson’s statement said, “Legal representatives have informally referred to this situation as ‘loan sharking’ due to the high interest rates and predatory nature of the loans, but all attempts at an amicable resolution have been rebuffed.” Peterson feels it is important to speak out openly, in hopes that others can avoid similar financial troubles.

“Trusting his financial advisor, as many people do, Peterson relied on assurances — according to the now-vanished recording — that no personal funds would be needed to settle the debt. Unfortunately, he is held solely responsible for the financial repercussions. He hopes to resolve this matter as quickly as possible so he can move on with his life. His ultimate goal is to prevent others from falling into a similar financial trap in the future.”

Peterson, 39, earned more than $103 million during his 15-year NFL career, but most of his earnings came before 2016 when he took out a loan. After earning nearly $25 million combined during the 2015 and ’16 seasons, Peterson made nearly $3.5 million in 2017, more than $1 million in 2018, $2.5 million in 2019, $1.154 million in 2020 and more than $300,000 more in his final season in 2021.

Peterson enjoyed a stellar career that included the second-highest single-season rushing total in NFL history, doing so in 2012, the same year he was named league MVP. A three-time league rushing champion, Peterson’s 14,918 career rushing yards is the fifth-highest total in league history.