Former Viking running back Adrian Peterson is allegedly facing major finical problems amid a new court order Tuesday morning.
Peterson has been ordered by a Houston judge to turn over his personal assets to pay off a $12 million debt. According to ESPN, the judge on Monday ordered constables in Fort Bend County, Texas, to accompany a court-appointed receiver, Robert Berleth, to Peterson's residence to keep the peace.
Peterson's debt problems allegedly stem from a $5.2 million loan he look out in 2016 that now has ballooned due to interest and attorney's fees.
Peterson hasn’t played in the NFL since 2021.
Peterson was the 2012 NFL MVP with the Vikings, becoming just the seventh in NFL history at that time to eclipse 2,000 yards rushing (Derrick Henry was the eight in 2020). A four-time All-Pro and seven-time Pro Bowl selection, Peterson led the league in rushing three times in his 15-year career.
He ranks fifth all-time with 14,918 rushing yards. He spent most of his career with the Minnesota Vikings (2007-16) before bouncing around the league with six other teams.
Tuesday afternoon, Peterson's agent/PR released the following statement:
“The article that has surfaced contains no new information. Adrian Peterson has been dealing with this lawsuit since 2017, which stems from a business loan arranged by his then-financial advisor, Jeff Wiseman. The loan was for a company co-owned by Peterson, Wiseman, and another partner. As the majority owner, Peterson was made the guarantor of the loan, making him solely responsible for the collateral.
Wiseman assured Peterson that the company would be able to repay the high-interest loan, as the funds were used to purchase equipment for the business. This was not a personal loan taken out by Peterson but a business loan, and Wiseman guaranteed that it would be repaid from the company’s profits. Unfortunately, the company failed to repay the loan, leaving Peterson financially liable for the debt. Meanwhile, Wiseman, who advised Peterson to take out the loan, has not faced any financial or legal responsibility regarding the matter.
Peterson has made numerous attempts to settle with DeAngelo Sales, but sources suggest that Paul DeAngelo, the company's owner, appears to harbor a personal animosity toward Peterson. Although this has not been confirmed, every effort to resolve the issue has been rejected, leading to the current legal impasse. Legal representatives have informally referred to the situation as "loan sharking" due to the high interest rate and the predatory nature of the loan, but all attempts at an amicable settlement have been rebuffed.
Peterson feels it is important to speak out, hoping that others can avoid similar financial predicaments. Trusting his financial advisor, as many do, Peterson relied on assurances—under now-missing recordings—that no personal funds would be required to settle the loan. Unfortunately, he has been left solely responsible for the financial fallout. He looks forward to resolving this matter quickly so he can move forward with his life. His ultimate goal is to help others avoid falling into similar financial traps in the future.”