Current:Home > MarketsFormer Vikings star Adrian Peterson ordered to turn over assets to pay massive debt -WealthX
Former Vikings star Adrian Peterson ordered to turn over assets to pay massive debt
View
Date:2025-04-14 01:06:29
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! (85656)
Related
- 'We're reborn!' Gazans express joy at returning home to north
- Proximity of Russian attacks on Ukraine’s Danube ports stirs fear in NATO member Romania
- MLB's eventual Home Run King was an afterthought as Mark McGwire, Sammy Sosa raced to 62
- One Chip Challenge maker Paqui pulls product from store shelves after teen's death in Massachusetts
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- Hong Kong closes schools as torrential rain floods streets, subway station
- Police have cell phone video of Julio Urías' altercation from domestic violence arrest
- Russian missile attack kills policeman, injures 44 others in Zelenskyy’s hometown in central Ukraine
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- Why Mark-Paul Gosselaar Regrets This Problematic Saved by the Bell Scene
Ranking
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Names of Elon Musk and Shivon Zilis' Twins Revealed
- For 25 years a convicted killer in Oregon professed his innocence. Now he's a free man.
- Horrified judge sends Indianapolis cop to prison for stomping defenseless man's face
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- What to know about the link between air pollution and superbugs
- Judge orders Louisiana to remove incarcerated youths from the state’s maximum-security adult prison
- Women credits co-worker for helping win $197,296 from Michigan Lottery Club Keno game
Recommendation
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
Russia holds elections in occupied Ukrainian regions in an effort to tighten its grip there
Author traces 'surprising history' of words that label women and their lives
How to Watch the 2023 MTV VMAs on TV and Online
Sonya Massey's father decries possible release of former deputy charged with her death
'One of the best summers': MLB players recall sizzle, not scandal, from McGwire-Sosa chase
'Couldn't be more proud': Teammates, coaches admire Mark McGwire despite steroid admission
Leah Remini Speaks Out After Dangerous Danny Masterson Is Sentenced to 30 Years in Prison