Although Adrian Peterson is by far the highest paid player in NFL history, he seems to be deeply in debt. This is from a report by The Athletic, which today published the details of a lawsuit against Peterson in August 2018, which together with two other previous cases directed against the former MVP, give a miserable financial picture.
The First Sign That something was wrong with Peterson's finances came in February 2018, when Peterson was ordered by a court in Minnesota to pay $ 600,000 to the Crown Bank. Peterson raised $ 2.4 million in loans from the lender in May 2016 to refinance other debt. But when he injured his knee later that year and the Vikings decided to make him a free agent instead of paying the $ 18 million he owed for the 2017 season.
The injured knee and the resulting loss of this huge payday seem to have affected Peterson's ability to repay other loans. Just a few weeks ago, a Maryland court ordered Peterson to pay $ 2.4 million to Democracy Capital Corporation, a Bethesda-based lender that loaned $ 4 million to a company owned by Peterson in April 2016 The Athletic submitted to the Supreme Court of New York charges $ 6.6 million, including interest and legal fees.
According to the lawsuit, Peterson borrowed $ 5.2 million from DeAngelo Vehicle Sales (no car company) in October 2016. Peterson withdrew $ 3.1 million from this loan, repaying a lender called Thrivest Specialty Funding. He spent $ 1.3 million on his loan at the Crown Bank. According to the lawsuit, Peterson should pay DVS back by 1 March 2017, but according to the complaint, he has not yet notified them of any sums he owes.
As part of the lawsuit, Peterson should do so on Monday to file a bail, but the judge in the case has canceled her because of a conflict of interest from Peterson's lawyer. Since DVS fought on behalf of Peterson to claim insurance for his injured knee, the runningback lawyer stated that he had access to confidential financial information before filing the lawsuit.
Peterson earned nearly $ 100 million in his career, but in the past few years, his annual earnings have dropped significantly. According to Spotrac, sales were $ 20.5 million in 2011 and $ 12 million in 2016. However, last year he earned only $ 1 million in Washington. Peterson played all 16 games with Washington in 2018 and hurried for the first time since 2015 over 1,000 meters. In February, Peterson told the TMZ that he was "maybe two or three years into the NFL". 19659004] The lawsuit of the DVS against Peterson is embedded below.