Former Detroit Lions running back and future Hall of Famer Adrian Peterson is in some financial hot water after a judge ordered him to pay off a massive debt by turning over his assets.
According to USA TODAY's Brent Schrotenboer, a judge in Houston issued an order on Monday for the seizure of Peterson's assets to pay a $12.5 million debt that stems from a $5.3 million loan he took out from a Pennsylvania lending company in 2016 that was supposed to pay back other lenders, per court documents.
Peterson had an $8.3 million judgement against him in 2021, and that debt has now climbed to about $12.5 million because of attorney's fees and a 9% annum on the amounts listed in the judgement.
A court-appointed receiver who requested the order in July will be accompanied by constables and will to go to Peterson's home in Missouri City, Texas, where it is believed he has "numerous assets" stored.
“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 court order said.
“Legal representatives have informally referred to the situation as `loan sharking’ due to the high interest rate and the predatory nature of the loan, but all attempts at an amicable settlement have been rebuffed,” a statement from his attorney said. “Peterson feels it is important to speak out, hoping that others can avoid similar financial predicaments. Trusting his financial advisor, as many do, Peterson relied on assurances — under now-missing recordings — that no personal funds would be required to settle the loan. Unfortunately, he has been left solely responsible for the financial fallout. He looks forward to resolving this matter quickly so he can move forward with his life. His ultimate goal is to help others avoid falling into similar financial traps in the future.”
Peterson spent one season with the Lions in 2020, when he played in 16 games (10 starts) and tallied 604 rushing yards, 101 receiving yards and seven touchdowns.
Prior to his stint with the Lions, he spent 10 seasons with the Minnesota Vikings, who drafted him in the first round of the 2007 NFL Draft at No. 7 overall. He has also played in games with the New Orleans Saints, Arizona Cardinals, Washington, Tennessee Titans and Seattle Seahawks during his career.
Peterson, who hasn't taken a snap in the league since 2021 with the Seahawks, was a seven-time Pro Bowler and a four-time first-team All-Pro and is expected to be a first-ballot Hall of Famer when eligible in 2026.
