Adrian Peterson, a former Viking, was told to surrender property to cover enormous debt.

Adrian Peterson, a former Viking, was told to surrender property to cover enormous debt.

Adrian Peterson, the former standout running back for the Minnesota Vikings, made over $100 million in salary throughout his NFL career, which ended in 2021. However, his enormous debt—which is reported to be worth over $12 million—remains. And in order to help repay it, a Houston judge has now ordered him to surrender a number of assets.

According to the order obtained by USA TODAY Sports, the same judge on Monday mandated that Fort Bend County, Texas, constables accompany the court-appointed receiver to Peterson’s residence when he shows up to seize the assets. In July, Robert Berleth, the receiver, asked for this order, stating that Peterson “is known to have numerous assets” kept at his Missouri City, Texas, residence.

“In order to maintain order and avoid interfering with the receiver’s duties, the receiver requests constable accompaniment when the receiver seizes the numerous assets known to be stored at (the property). After hearing the receiver’s arguments on Monday, the judge approved the request.

The order said, “Therefore, a writ of turnover with receiver’s levy is to be issued and Ft. Bend County constables are to accompany the receiver in the execution of his duties. From what source is Adrian Peterson in debt?
According to court documents, the decision is the most recent development in a protracted legal dispute to force Peterson to repay a $5.2 million loan that he obtained from a Pennsylvania lending company in 2016 and was intended to reimburse other lenders. According to the receiver’s court petition, this debt since resulted in a $8.3 million judgment against him in 2021, plus $15,000 in legal fees with 9% annual interest on all amounts. According to Berleth, the estimated total amount collected is $12.5 million, as indicated in a February court filling. As of now, there have been no offsets made against this judgment,” the receiver said in the July court document. Peterson is said to have engaged in a shell game with his assets by Berleth, the receiver appointed by the court, in order to evade payment. When a sports memorabilia auction in Texas tried to sell off some of Peterson’s personal belongings, including multiple NFL jerseys and trophies, it got sucked into it in February.

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

When Peterson took out the loan in 2016, he agreed to return it five months later, in March 2017, with interest. He intended to use the majority of the funds, as stated in the agreement, to repay other loans. However, in early 2017, Peterson became a free agent as the Vikings declined to take up his $18 million option, which came after he had suffered a knee injury in 2016. After thereafter, Peterson’s income dropped sharply and never recovered over $3.5 million annually. Since 2021, he has not participated in NFL play.

Be the first to comment

Leave a Reply

Your email address will not be published.


*