Does $600K Lawsuit Against Adrian Peterson Reveal Deeper $$$ Problems?
Many Vikings fans spent the past week with tunnel vision on the Purple’s pending QB, and no-longer pending OC, situations. For certain members of Skol Nation, like myself, the news regarding the artist formerly known as Purple Jesus almost got lost in the shuffle.
Adrian Peterson ordered to pay $600K after defaulting on 2016 loan from Twin Cities bank. https://t.co/fBJVe94Qpf
— KARE 11 (@kare11) February 8, 2018
In 2016, Adrian Peterson, who has earned nearly $100 million during his NFL career (plus a lot of endorsement $$$), borrowed $2.4 million from the Twin Cities-based Crown Bank. The purpose of AP receiving that loan was to refinance some of his other debts. For collateral on the 24 sets of $100K he received, the future Hall of Famer pledged his NFL contract.
The old — “counting the chickens before they hatch” — bit. That painful idiom got his ass. After an injury ridden 2016 campaign, Adrian Peterson missed out on a potential $18 million 2017 season when, last February, the Vikings announced they were declining his contract-option. Here we are, a little less than a year shy of that announcement, and their is now a court order for AP to repay $638,654 ($609,786 in principal and interest + $28,868 in legal fee’s).
As you can tell by the six-figure dollar amount handed down by the judge, prior to being sued, Peterson paid back the majority ($1.9 million) of the 2016 originated loan. AP also attempted to grant the bank a mortgage on his home in Eden Prairie. However, it was revealed that the residence was already subject to two other mortgages “which exceed the value of the property.”
On March 21st, the greatest rusher in Vikings’ history will turn 33 years-old. In regards to running backs in the NFL, that’s considered a senior citizen. Now, go ahead let your brain parlay the money issues, his age, and this information:
— Bleacher Report (@BleacherReport) October 12, 2017
Okay then, AP. Sure. Do you want to play four or five more years? Or is it more of a need? I’ve questioned a lot about our former RB over the years, but never have (and never will) questioned his desire to play football. That man loves carrying the rock. If his body could sustain, he’d probably chose to take on contact everyday for the rest of his life. He’s a different breed:
To me, Peterson claiming he wants to play up to another half-a-decade, now knowing what we know do about the Crown Bank scenario (among other bread crumbs), screams money issues. If it was all about football, which I’m sure he still wants to play, wouldn’t he be all in on proving himself for this upcoming season? With Arizona set to release him, he’ll once again be a free agent.
Is the “four or five” years statement coming from the voice in his head that is reminding him about his financial woes? If Vegas (or a bookie, or an offshore gambling website) offered that hypothetical question as a prop bet, I’m putting $638,654 on yes. Since I don’t have those kind of funds, maybe Crown Bank would give me a loan?
On the cash side of things, I wish only the best to AP moving forward. Speaking of moving forward, as for Peterson’s up-coming 33rd birthday, it would probably be a smart fiscal decision to avoid the camel:
— Sports Nonsense (@sportnonsense) April 28, 2015