Judge orders Adrian Peterson to pay more than $600,000

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Running back Adrian Peterson has left Minnesota, but Minnesota hasn’t forgotten about him. In more ways than one.

Via the Minneapolis Star Tribune, a Hennepin County judge has ordered Peterson to pay more than $600,000 that he had failed to pay after taking out a $2.4 million loan in 2016.

Peterson borrowed the money from Crown Bank in May 2016, at an annual interest rate of 7.5 percent. Peterson borrowed the money to refinance other debt.

He paid $1.9 million, but for some reason he stopped paying. And for some reason Peterson never responded to or otherwise contested the civil lawsuit that Crown Bank filed after he defaulted on the loan.

Peterson must pay $609,786 in both principal and interest, along with $28,868 in legal fees.

And, yes, it costs nearly $30,000 to initiate and win a civil lawsuit when the defendant doesn’t even try to fight it.

35 responses to “Judge orders Adrian Peterson to pay more than $600,000

  1. As he transitions out of the league, get used to seeing articles like this, inability to pay child support will likely lead the way. Within 8 years of being out of the NFL, Adrian Peterson will be flat out broke. Which saddens me on only one front, his many children. Imagine how big of an abuser he’ll be as his financial world crumbles around him. Other than that, it couldn’t happen to a more ‘classy’ individual and ‘fantastic’ role model. (dripping with sarcasm) As a life long Vikings fan it made me sick when this franchise didn’t cut him as soon as the story of what he did to his son was verified…

  2. How to the fine people of Minnesota still defend this turd? He is a despicable person that can run fast holding (except in playoffs) a football.

  3. I don’t know why it always surprises me when reading about gross mismanagement of millions of dollars by professional athletes… but it always does.

  4. I understand that these players receive millions of dollars before they’re mature enough to handle it. So I’m not surprised that at 30 years old he was trying to correct some bad financial decisions he made in his younger days. But to default on the loan and not even respond to the bank, the attorneys or the Court? Time to grow up Peter Pan. That money train may have already taken its last trip so you better figure out your finances quick.

  5. I don’t have much, but I have my integrity. My integrity is worth more to me than 600k, it would seem mine is worth more than Peterson’s. So I have that going for me.

  6. Peterson doesn’t understand why the Vikings owners can defraud their business associates to the tune of $90M and yet he is required to repay his loan. Seems kinda unfair, doesn’t it?

    BTW, 7.5% interest on a loan? Home equity loans go for half that level of interest so just who is advising him in financial matters? And for all the millions he has made and continues to make (I seem to recall the Vikings were paying him around $15M, more than $6 or $7M than the NEXT highest paid RB, really smart cap management there), he has to borrow money to repay debt? That’s cray stupid, even for a Viking player.

  7. I have always heard Adrian keeps a very large crew and spends money like crazy. Unlike guys like Gronk and Marshawn, who’ve never spent any of their NFL money. I hope he gets this resolved.

  8. Long time Vikes fan and loved watching him play all those years. having said that, this guy must have been a cancer in the locker room that no one was willing to talk about. Kudos to all those professional athletes that just went in, did their job and kept their mouth shut along side this guy. I hope I’m wrong, but I have a feeling this is the first of many stories to come out painting AD in a much different light now that he’s on the back side of his career. Not sure how to feel about this….

  9. And why is it that he had to take out a loan in the first place? Hasn’t he made multi millions in his career??? Geez these guys are something else!!!

  10. “And, yes, it costs nearly $30,000 to initiate and win a civil lawsuit when the defendant doesn’t even try to fight it.”

    The non sports point was the most amazing thing in the story.

  11. Unbelievable this guy has made a TON of money and is still playing. The word LOAN should not even be in his vocabulary, what a shame.

  12. $28,868 in legal fees for a filing based on docs provided by the client? This is prima facia evidence that lawyers have excelled at the concept of redistribution of wealth.

  13. yooperman says:
    February 8, 2018 at 7:14 am

    How to the fine people of Minnesota still defend this turd? He is a despicable person that can run fast holding (except in playoffs) a football.
    __________

    Who’s defending him? I think 95% of us were glad to see him go last year and the other 5% figured it out later.

  14. Per the STRIB: “He also agreed to grant the bank a mortgage on his home in Eden Prairie, but a bank executive said in a court filing that a title investigation revealed that the property was already subject to two other mortgages “which exceed the value of the property.”

    I started working with a financial advisor when I was 19 and in college, making $100/week as a student worker. Even at age 19, I would have thought leveraging a mortgage on your house to cover debts would be a bad idea.

    Its clear AP has no financial counsel. Feel bad for the man because this isn’t going to go over well for him.

  15. He’s going to be this generation’s Mike Tyson. He made a shipping container full of cash during his career, but he’ll be bankrupt within a year or two of retiring. The difference is Tyson still makes some money, just being Tyson. Peterson won’t be making money, just by being Peterson.

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