Former NFL MVP Adrian Peterson Ordered to Surrender Assets to Address $12 Million Debt

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10/09/2024 21h17

According to reports from USA Today and Field Level Media, constables have been instructed to accompany debt collector Robert Berleth to Peterson's home in Missouri City, Texas, to seize the athlete's assets.

Court documents reveal that Berleth had requested constable accompaniment back in July, citing the need to maintain peace and prevent interference while levying numerous assets known to be stored at Peterson's property. The judge granted Berleth's request on Monday, giving him the authority to carry out the asset seizure.

Sources indicate that the debt stems from a $5.2 million loan Peterson secured in 2016 from Pennsylvania-based lender DeAngelo Vehicle Sales LLC. It is worth mentioning that the term "vehicle" in this context refers to financial instruments, not cars. At the time of taking the loan, Peterson was in his final season with the Minnesota Vikings. Reportedly, he borrowed the money to pay off existing debts and agreed to repay it with interest by March 2017. However, the debt remains outstanding and has since escalated over time.

The Minnesota Vikings had the option to exercise an $18 million team option for Peterson in 2017, but they declined, making him a free agent. Subsequently, Peterson signed a two-year, $7 million contract with the New Orleans Saints. Unfortunately, Peterson's financial woes continued to mount, leading to a judgment of $8.3 million against him in 2021. With added fees and interest, the total debt now stands at approximately $12.5 million.

In a court filing made in July, Berleth noted that no offsets had been made against the outstanding judgment thus far. Peterson's attorney, Chase Carlson, previously addressed the debt situation in 2019, emphasizing that the athlete had been taken advantage of by those he trusted. However, neither Peterson nor his representatives have publicly commented on the recent judgment against him.

This is not the first time Peterson has faced trouble with debt. In 2019, he was ordered to repay $2.4 million in connection with a separate loan. Despite the financial setbacks, Peterson's football career will undeniably be remembered as a remarkable one. The talented running back played 15 seasons in the NFL, from 2007 to 2021, and is widely regarded as a future Hall of Famer. Throughout his tenure, Peterson achieved several milestones, such as being a three-time rushing champion, a seven-time All-Pro, and a seven-time Pro Bowler. Furthermore, he was bestowed the prestigious titles of MVP and Offensive Player of the Year in 2012.

According to Spotrac, over the course of his illustrious career, Peterson earned a staggering $103 million in salary. However, financial challenges have proven to be a formidable adversary for the former MVP, as he now faces the consequential task of addressing his significant debt and surrendering his assets as mandated by the court order.

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