Current:Home > ContactFormer Vikings star Adrian Peterson ordered to turn over assets to pay massive debt -WealthSync Hub
Former Vikings star Adrian Peterson ordered to turn over assets to pay massive debt
View
Date:2025-04-12 02:32:25
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! (1)
Related
- Trump issues order to ban transgender troops from serving openly in the military
- North Carolina farms were properly approved to collect energy from hog waste, court says
- Copa América 2024 draw is Thursday, here's how it works and how to watch
- What Is Rizz? Breaking Down Oxford's Word of the Year—Partly Made Popular By Tom Holland
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- A bedbug hoax is targeting foreign visitors in Athens. Now the Greek police have been called in
- Beyoncé climbs ranks of Forbes' powerful women list: A look back at her massive year
- Memorials to victims of Maine’s deadliest mass shootings to be displayed at museum
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- 3 suspects arrested in murder of Phoenix man whose family says was targeted for being gay
Ranking
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- Why Savannah Chrisley Hasn’t Visited Her Parents Todd and Julie in Prison in Weeks
- Israel continues bombardment, ground assault in southern Gaza
- European soccer body UEFA pledges at UN to do more to promote human rights and fight discrimination
- The company planning a successor to Concorde makes its first supersonic test
- Sen. Scott joins DeSantis in calling for resignation of state GOP chair amid rape investigation
- Super Bowl LVIII: Nickelodeon to air a kid-friendly, SpongeBob version of the big game
- Senate confirms hundreds of military promotions after Tuberville drops hold
Recommendation
$73.5M beach replenishment project starts in January at Jersey Shore
Complaint seeks to halt signature gathering by group aiming to repeal Alaska’s ranked voting system
NCAA President Charlie Baker proposing new subdivision that will pay athletes via trust fund
George Santos trolls Sen. Bob Menendez in Cameo paid for by Fetterman campaign
As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
U.S. imposes new round of sanctions over Russia’s invasion of Ukraine
John Mayer opens up about his mission that extends beyond music: helping veterans with PTSD
Chrysler recalls 142,000 Ram vehicles: Here's which models are affected