Adrian Peterson deep in debt, lawyer says he trusted the wrong people

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Washington running back Adrian Peterson has made about $100 million in salary, and millions more in endorsements, during his NFL career. But he’s deep in debt after his lawyer says he trusted people who ripped him off.

“The truth behind Adrian Peterson’s current financial situation is more than is being reported at this time,” attorney Chase Carlson said in a statement. “Because of ongoing legal matters, I am unable to go into detail, but I will say this is yet another situation of an athlete trusting the wrong people and being taken advantage of by those he trusted. Adrian and his family look forward to sharing further details when appropriate.”

The statement came hours after TheAthletic.com reported that Peterson is being sued in Pennsylvania for failing to pay back a $5.2 million loan. In two separate matters, judges have ordered Peterson to pay $2.4 million to one creditor and $600,000 to another creditor.

Despite the fortune Peterson has made, he appears to be nearly broke, with debts that he is struggling to pay, and debts that he’ll continue to struggle to pay even after getting a $1.5 million signing bonus to remain in Washington this year, with another $1 million in salary on the way for the season.

81 responses to “Adrian Peterson deep in debt, lawyer says he trusted the wrong people

  1. Financial literacy is a concept lost on so many of these pro athletes! Hope he can get his house in order, but with his career nearing the end, he will have limited endorsements coming up.

  2. Broke losers in this comment section who have more credit card debt then cash in their savings should not comment. Be better at life first

  3. When will these athletes learn? Being a successful pro athlete could provide for him and his family for the rest of their lives. It’s sad to see a man’s blood, sweat and tears reduced to this. Utterly depressing to think that he could play another 5 years at the current rate and only just manage to dig himself out of the debt mentioned here.

    Stop handing your money to business managers and friends with “great ideas”. Just set aside a safety net in bonds and split the rest up between a handful of different investment firms (in case one of them is a Bernie Madoff) and you can live richly off the annual earnings alone.

  4. He should have taken his time in college seriously. Missed opportunity. He would have had every advantage at his disposal at Oklahoma.

  5. Sadly, Adrian Peterson is just not a very smart person. I think most of us saw this coming.

  6. whysosenestive445 says:
    July 23, 2019 at 2:02 pm
    Broke losers in this comment section who have more credit card debt then cash in their savings should not comment. Be better at life first

    —————-

    Not too many people make over $100 million and still manage to be in debt…

  7. amazing, you mean having kids with various women (none of whom you are married to), making stupid investment and spending decisions, etc… , you mean all this leads to being in major debt ? geez

  8. It’s always the fault of someone else, isn’t it? Cheesy banks loaned him money with no collateral to speak of, knowing he’s no wizard and has to support how many kids? Meanwhile, you and I attempt to get a loan by providing the bank enough information to show we don’t need it. He will need to play until he’s 50, provided the NFL or some sort of football is still around.

  9. whysosenestive445 says:
    July 23, 2019 at 2:02 pm
    Broke losers in this comment section who have more credit card debt then cash in their savings should not comment. Be better at life first
    ——————————–
    Those who do not understand the difference between simple financial insolvency and have court issued debt judgements for debts beyond what most people won’t earn in a lifetime probably shouldn’t comment on those who are simply insolvent.

  10. When you see what they teach in High School ( much less college where you can take courses in Animal Advocacy) Isn’t it time that we had core,mandatory classes in personal finance ?
    I always help the new people at work make their 401K choices etc. Most don’t have any idea about a budget or that 24% on a credit card is not a good deal. It’s not just the athletes, they just have more money and it is more obvious.

  11. Whysosensitive: the name you have shows you are awfuly sensitive dealing with AP. Maybe you should stop and think before you type. You are comparing average joe using credit cards to help purchase things when there isnt enough cash to a guy who squandered millions because of stupid decisions!!

  12. This is why it’s great that the Rams have their rookies take financial literacy classes before signing them to their contracts.

  13. The sooner he declares bankruptcy, the better. He has almost no shelf-life left, with $3 million in debt that we know about, and God knows how much debt we don’t know about. His current income is $2.5 million if we assume no injuries and surviving cuts. His football income for next season will likely be the same in best case, in worst case it will be zero. It’s time for him to file.

  14. Why doesn’t he just start up another phony charity/checking account like the one he had in Minnesota.
    As long as he can line up a slew of gullible dorks to line his pocketbook just like the last time, problem solved.

  15. Years ago I heard a statistic the the average network for NFL players was negative 1 million. I hope that this isn’t true anymore, and that rookies are given lessons on money management.

  16. Maybe the larger-than-life bronze statue of Peterson the Vikings were intending to erect outside US Bank Stadium should be cancelled.

  17. What a tragic life. Instead of living a life that few can live: he will live a life that no one wants. I sincerely wish the best for this pitiful situation. Not one of us can turn back the clock of time.

  18. Let’s start a GoFundMe for AP.
    I’ll put up a penny.
    We should be able to raise a 50 – 60 cents, no problem.
    In all seriousness it’s good that he spread his money around so many people can enjoy it.

  19. A guy who rents a camel and complete wardrobe for a birthday party has no idea of where money should be spent!

  20. Adrian Peterson and Vince Young should get together and put on a rookie symposium on how NOT to manage your money earned during and NFL career. They could each then break off into separate sections on how to not abuse your children, the proper way to pay back loans you sign for, why you should listen to your head coach in the NFL and how drinking and driving can kill a career……

    Maroons…..both of them are racing to the bottom and still blaming others for their choices.

  21. He has been a great source of consumption, the real basis to our economy consume consume consume. 100 million into others pockets.

  22. “Broke losers in this comments section”

    ========

    Are you ok? Maybe go take a walk or something. The Adrian Peterson poster on your ceiling won’t go away because people gave their opinions about one of your idols in a comments section on the internet.

  23. Over 100M in earnings plus countless sponsorships… the only sad part is the oppurtunity he squadered for his family. That is generational type of wealth.

    I have said it before and I will continue to repeat myself, if I was 21 and a multimillionaire it would be almost impossible to make some mistakes. However, hes way past his rookie deal.

  24. I also wonder how much this attorney who can’t say anything at this time is costing him?

  25. Sadly this is the end result of many NFL athletes. They have no financial knowledge and think that they have a bottomless pit of cash.
    They have no college degrees and , for the most part have no employable skills.
    They end up on dead end jobs for minimum wage.
    It should be a requirement for them to go through a financial education class upon signing with their respective teams.

  26. I kinda feel for the guy… I mean he is obviously dumb and made a lot of money, people are going to try to take advantage of the situation. Oh but then I forget he took his 4 year old son outside and took a switch to him, or a belt. Oh and he has several kids with several different… more then he wants to even share.

  27. Same story always reading about these guys… gotta have other people handle your finances for you??? It isn’t that hard. Just spread it all around into multiple accounts and take as you need. Simple

  28. It looks like those that loaned AP the money trusted the wrong people too. You can blame some of this on bad investments if you want to but I’m sure it wasn’t all about that.

  29. I knew this guy was dumber than a box of rocks, but $100 million? Wow, that’s true idiocy….

  30. “amazing, you mean having kids with various women (none of whom you are married to), making stupid investment and spending decisions, etc… , you mean all this leads to being in major debt ? geez”

    Genius you didn’t even read the statement by Adrian’s attorney. He said other people stole most of AP’s money. He made no mention about bad investing. You like the rest just make up anything you want to. The other thing that you and others would like to cover up is the nasty nature of all these criminal parasites that feast off these athletes and most of them are non talented white guys.

  31. I have no sympathy for AD. However, some of you are insolvent without ever having sniffed $1 million, let alone 100. And you were never as good at anything as he is at his craft. Pretty funny when you think about it.

  32. Peterson has spent his life bragging on himslef and shooting his mouth off about his own greatness. Interesting that he has blown through $100M like a 7 year old. Pride goes before the fall

  33. AP is like “Shark” from Any Given Sunday”, out cold comes to, “did I get my bonus?” It would be funny if it wasn’t so truly pathetic.

  34. The latest personal bankruptcy laws don’t make it that easy to make it all go away. It can be based on your income & if he makes too much he may not qualify. Instead, he may have to choose Chapter 13, where he has to pay back his debts over time. Either way, a fool and his money are soon parted.

  35. Trusted the wrong people…. like whomever planned his 30th Bday party. He planned poorly didnt do or have his people do enougn research, i get it you want to splurge and have nice things but gotta get the basics dealt with and smoothed overand get your finances on practically autopilot with that chunk of money before moving on to that…

  36. When you have money, “Trust no one!” Just ask every lottery big lottery winner.

  37. Peterson’s attorney Chase Carlson is an “investment fraud” attorney so I would expect he will file suit in court against the fraudsters on behalf of Adrian Peterson. You mooks that love hating on Peterson may have to shut your pie hole once again when the truth comes out in civil court.

  38. Richie Incognito is nuts and Id bet he has plenty of coin. when you have a bunch of kids, being broke after making that much money is not only stupid its irresponsible.

  39. Every time I hear about one of these guys who has made millions and is now broke I’m just in disbelief. It’s just crazy to see these guys spend money without any thought of their future. Let’s face it, it’s not like most of them are intelligent enough to get a good paying job after their playing career is over. Even if the NFL does address this in the rookie symposium do you really think they are going to listen? They won’t. Why doesn’t the agent encourage them to be financially responsible with their money? They don’t care as long as they are getting paid. To be fair, most people don’t really start thinking about saving for retirement until their 30s or 40s. However, those people will work for forty years. The NFL player’s career is usually over before he even gets to his 30s. It’s ironic that you don’t hear about players from the 70s and 80s all being broke. That’s because they were paid insane amounts like today’s players and have some idea about the value of money. This won’t be the last story you’ll read about a guy who has made $100M+ and is broke. It boggles the mind.

  40. Adrian and his family look forward to sharing further details when appropriate.”

    ++++++

    I bet they don’t. And who exactly does AP consider family, anyhow?

  41. Economy of scale. Most people have no idea how much money 100-million actually is. Squandering 100-million is indicative of a total idiot… someone completely oblivious to basic concepts of economics, no idea what needs to be done, and too narcissistic to ask a question and request guidance from someone who might know better. Adrian is a jock who believed his own hype and thought the details would handle themselves. No sympathy.

  42. LandOf10000MethLabs says:
    July 23, 2019 at 2:55 pm
    $100 million down the proverbial toilet. From playing football.

    No matter how hard I try, I just can’t work up any sympathy for this fool.
    —————
    To be fair to all of these athletes, 50% of what they earn goes to taxes. Federal, state and local.

    But blowing $50 million is still pretty stupid.

  43. A former player told the story about his search for an agent. He selected the agent told him read and study time value of money before he would sign him as a client. Once he signed with agent and received a modest NFL signing bonus, agent asked him what kind of car he wanted to purchase. Client mentioned an exotic sports car and the agent gave him a booklet with cars in it to choose from…there weren’t any exotic sports cars or luxury cars in the list. Client chose an ordinary car. Client did not have a long NFL career but he commends his agent for helping him bank his signing bonus for which he’s still drawing interest! Fortunately he listened to his agent.

  44. Yet again another athlete goes broke. Last guy I remember was Warren Sapp, who spend his whole career with Tampa Bay and wound up revealing he was broke a few years ago. These people should really hire a financial adviser to handle their money.

  45. he likely paid close to 50-60% of all his income to taxes. people don’t realize that these athletes get more than half their salaries plucked away by the government. and yet most of them vote for liberals while trying to maximize their contract deals. makes no sense to me. but that’s an entirely different issue.

    still, peterson losing $40-50 million and who knows how much from endorsement deals is really bad.

  46. I have no sympathy for AD. However, some of you are insolvent without ever having sniffed $1 million, let alone 100. And you were never as good at anything as he is at his craft. Pretty funny when you think about it.

    —————————————————-

    Duh. It is a lot easier to become insolvent when you don’t have a lot of money genius.

  47. Being rich and being smart have nothing in common but trusting anyone when it comes to your money is foolish and stupid.

  48. It’s a little silly to suggest he’s broke. Obviously he can liquidate his assets, pay his debts, probably play SOMEWHERE for the next 2-4 years, and still put over a million in the bank for his retirement.. Most of us work 20+ years to get that.

  49. We have a situation here with a potential Hall of Famer that may not be able to afford the price of a plane ticket to get to Canton. Thank goodness the NFL pays for the expenses. I wonder if a “Go Fund Me ” Page would work for AP? Truly, I feel sorry for him and hope he can recover. His career is getting shorter by the day.

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