Adrian Peterson finds himself in a legal swamp. The former Vikings star is on the brink of having his assets seized after his initial $5.2 million dept has come to haunt him, increased manifold in size.
Advertisement
Shannon Sharpe had a strong reaction to the former RB’s humungous debt as he discussed the matter with Chad Johnson. On the NightCap podcast, he said:
“Man AP! Bruh you made a 100 million and then he borrowed, I think he borrowed like 5 million in two years. The end result when you borrow money like that [is] you gotta pay like 20-25% interest.”
A Texas judge has ordered the turning over of Peterson’s personal assets in response to the lawsuit regarding his non-payment of debts. The seven-time Pro Bowl achiever has failed to dissolve his $5.2 million debt from 2016, which after interest has resulted in $12.5 million.
According to USA Today, the amount had reached $8.3 million in 2021 which was followed by $15,000 in attorney fees and a 9% annual interest amalgamating to its current evaluation.
Johnson expressed his sympathy for Peterson calling the predicament quite “unfortunate.” He further hoped that the athlete would soon overcome the financial situation.
Sharpe didn’t share these emotions with his co-host and highlighted how the athlete was so financially irresponsible that he took a loan for a birthday party with around 300 people!
When Peterson threw a lavish birthday party
In 2015, Peterson celebrated his 30th birthday in style, or as per some reports, also with some questionable financial decisions. For one, he rode in on a camel!
Six-foot-tall ice statues, a grand purple cake, and Jamie Fox were just some of the notable things at the bash. Moreover, around 320 guests were flown first class to the party.
“Who takes out of a loan to throw themself a birthday party unless you’re what? Trying to impress the partygoers,” said a frustrated Sharpe. “I don’t know 300 people. I am 56, I don’t know 300 people.”
According to reports, Peterson took the $5.2 million loan in Oct 2016 with the intention of repaying it next year in March. He took the amount to repay his other loans but was dropped by the Vikings in 2017.
As a free agent, he was picked for a salary much lower than his preciously held $18 million tag. 2021 was his last year in the NFL and it seems that the former running back’s financial problems have caught up with him this year.
