Current:Home > StocksFormer Vikings star Adrian Peterson ordered to turn over assets to pay massive debt -EliteFunds
Former Vikings star Adrian Peterson ordered to turn over assets to pay massive debt
View
Date:2025-04-14 13:35:14
Former Minnesota Vikings star running back Adrian Peterson earned more than $100 million in his NFL career from 2007 to 2021. But he still is in massive debt estimated at more than $12 million. And now a judge in Houston has issued an order for him to turn over numerous assets to help pay it back.
The same judge on Monday ordered that constables in Fort Bend County, Texas, accompany the court-appointed receiver to Peterson’s home when he shows up to seize the assets, according to the order obtained by USA TODAY Sports.
The receiver, Robert Berleth, requested this order in July and said Peterson is “is known to have numerous assets” stored at his home in Missouri City, Texas.
“The receiver requests constable accompaniment when receiver levies the numerous assets known to be stored at (the property) to keep the peace and prevent interference with the Receiver’s duties,” the receiver said in his request.
On Monday, the judge heard the receiver’s arguments and granted the request.
NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.
“It is, therefore, ordered that a writ of turnover with receiver’s levy be issued and Ft. Bend County constables are to accompany the receiver in execution of his duties,” the order stated.
What is Adrian Peterson’s debt from?
The order is the latest in a long legal battle to get Peterson to pay back a $5.2 million loan he took out from a Pennsylvania lending company in 2016 that was supposed to pay back other lenders, according to court records. That debt since has led to a $8.3 million judgment against him in 2021, plus $15,000 in attorney’s fees with 9% per annum on all amounts, according to the receiver’s court filing. The approximate collection total is $12.5 million, Berleth stated in a February court filing.
“No offsets have been made against this judgment to date,” the receiver stated in the July court filing.
Berleth, the court-appointed receiver, also has accused Peterson of playing a shell game with his assets to avoid payment. In February, a sports memorabilia auction in Texas got caught in the middle of it when it attempted to sell off Peterson’s personal items, including several NFL trophies and jerseys.
A judge halted the sale after Peterson objected and went on social media to say, "I want to emphasize that I'm financially stable and would never sell off my hard-earned trophies." That auction is still apparently on hold.
Berleth gave his version of events in court documents.
"The Receiver intercepted an auction the debtor (Peterson) initiated and seized items at Storage Facilities leased and secured with lock by the Debtor (Peterson)," Berleth said in court documents. "The assets belong to the Debtor. The leases at the Storage Facilities were delinquent. The debtor contested the sale of trophies.”
Why did Peterson take out this loan?
Peterson took out the loan in 2016 and promised to pay it back with interest in March 2017, five months later. According to the agreement, he planned to use most of the money to pay back other loans. But Peterson was coming off a knee injury in 2016, and the Vikings declined to pick up the $18 million option on his contract in early 2017, turning Peterson into a free agent. Peterson’s earnings fell dramatically after that, never exceeding $3.5 million a year. He hasn’t played in the NFL since 2021.
A representative for Peterson didn’t return a message seeking comment.
Follow reporter Brent Schrotenboer @Schrotenboer. Email: bschrotenb@usatoday.com
veryGood! (51986)
Related
- Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
- DOJ's Visa antitrust lawsuit alleges debit card company monopoly
- How to get rid of motion sickness, according to the experts
- Senate approves criminal contempt resolution against Steward Health Care CEO
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- OpenAI exec Mira Murati says she’s leaving artificial intelligence company
- Dancing With the Stars’ Danny Amendola Sets Record Straight on Xandra Pohl Dating Rumors
- Travis Kelce Reveals His Guilty Pleasure Show—And Yes, There's a Connection to Taylor Swift
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Boy Meets World’s Maitland Ward Shares How Costar Ben Savage Reacted to Her Porn Career
Ranking
- The Daily Money: Spending more on holiday travel?
- Funds are cutting aid for women seeking abortions as costs rise
- Tropical Weather Latest: Swaths of Mexico and Florida under hurricane warnings as Helene strengthens
- After Marcellus Williams is executed in Missouri, a nation reacts
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- Tia Mowry Speaks Out After Sharing She Isn't Close to Twin Sister Tamera Mowry
- In dueling speeches, Harris is to make her capitalist pitch while Trump pushes deeper into populism
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Ego Trip
Recommendation
Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
Why Savannah Chrisley Feels “Fear” Ahead of Mom Julie Chrisley’s Resentencing
U.S. wrestler Alan Vera dies at 33 after suffering cardiac arrest during soccer game
Monsters: The Lyle and Erik Menendez Story Stars React to Erik Menendez’s Criticism
Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
Margaret Qualley Reveals Why Husband Jack Antonoff Lied to Her “First Crush” Adam Sandler
There's NIL and Pac-12 drama plus an Alabama-Georgia showdown leading the College Football Fix
Helene reaches hurricane status ahead of landfall in Florida: Live updates