A Houston judge has mandated former Minnesota Vikings running back Adrian Peterson to relinquish numerous assets in an effort to settle an overwhelming debt exceeding $12 million.
This legal action stems from a $5.2 million loan Peterson took out in 2016.
The loan was intended at the time to manage previous debts, but has since ballooned due to interest and legal judgments against him, according to ESPN’s Field Level Media.
The court’s decision involves the seizure of personal assets, which might include memorabilia from his storied career.
A court-appointed receiver had requested the move citing the fact that Peterson “is known to have numerous assets” at his home in Texas.
The judge also ordered law enforcement to accompany the court receiver to Peterson’s home in order to “keep the peace”.
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Adrian Peterson To Hand Over Memorabilia?
While this particular report doesn’t mention which assets Adrian Peterson will be forced to turn over, it’s difficult to imagine that it wouldn’t involve some of his prize sports memorabilia collection from his college and NFL playing days.
In fact, the court receiver attempted to sell off some of his memorabilia, including NFL trophies and jerseys, in February. Peterson objected to the auction and threatened legal action.
“I want to emphasize that I’m financially stable and would never sell off my hard-earned trophies,” he wrote in a since-deleted social media post at the time. The auction is still on hold.
Adrian Peterson made over $103 million during his illustrious career in the NFL. When he took out the loan in 2016, he had accumulated over $94 million, according to Sportrac.
Peterson’s PR Firm Responds
Entertainers & Athletes Group, the public relations firm representing Peterson, issued a statement to the public suggesting that the latest update in the legal dispute has changed very little.
They pinned blame on a former financial adviser to the one-time NFL Most Valuable Player.
“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,” they claim.
“Unfortunately, he has been left solely responsible for the financial fallout.”
They have stressed that Peterson’s loan was a business loan, and not personal.
And while, as mentioned, Peterson had accumulated $94 million in cash throughout his career by 2016, something else was happening that year from a financial standpoint that might have caused him to rack up bills.
Adrian Peterson was famously indicted on charges of reckless or negligent injury to a child but avoided a jail sentence after reaching a plea agreement.
He was suspended and fined by the league but had those punishments overturned on appeal. The league though, in 2016, won their own appeal overturning that ruling.
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