Former NFL running back Adrian Peterson has been ordered by a Texas judge to turn over personal assets to help pay a debt that has ballooned to more than $12 million. The court-appointed receiver, Robert Berleth, has been seeking to collect money from Peterson as part of a judgment from a lawsuit filed against the four-time All-Pro running back over a $5.2 million loan he failed to repay to a Pennsylvania lending company. Interest and fees resulted in that debt more than doubling.
Peterson’s debt issues began when he took out a loan for $5.2 million from a Pennsylvania lending company in 2016. The sum has grown due to interest and attorney’s fees, leading to an $8.3 million judgment against him in 2021.
The receiver, Robert Berleth, asked a judge in July to order that constables accompany him to Peterson's home in the Houston suburb of Missouri City so he can inventory assets that can be sold off. The judge issued a court order on Monday granting that request.
Peterson's Response
Peterson’s public relations firm, Entertainers & Athletes Group (EAG), has defended him, claiming that Peterson’s former financial advisor, Jeff Wiseman, should be held responsible for the loan. The firm said in a statement that Peterson took out the loan as part of a business venture and Wiseman guaranteed its repayment. Unfortunately, the company failed to repay the loan, making Peterson ultimately responsible for the debt.
Peterson's attorneys have lobbied to keep authorities from auctioning off items in the former running back’s storage units, including his 2007 Rookie of the Year trophy.
A Hall of Fame Career
Peterson, 39, last played in the NFL in 2021. He started his career as a four-time All-Pro with the Minnesota Vikings before joining six teams toward the end of his career, including a two-season stint with the Washington Redskins.
Peterson's career highlights include being named the NFL's most valuable player by the Associated Press in 2012. He also led the league in rushing three times in his 15-year career. After rushing for almost 15,000 yards, Peterson will likely become a Pro Football Hall of Famer when he hits the ballot in 2027.
The Shadow of Debt
While Peterson's football legacy remains impressive, his financial troubles cast a shadow on his post-NFL life. The legal battle over the loan has dragged on for years, highlighting the financial risks associated with business ventures and the importance of careful financial planning, even for high-earning athletes. Peterson's case serves as a reminder that financial security can be a complex and challenging issue, even for individuals who have achieved significant success on the field.
