Adrian Peterson is in serious debt

[John813]

https://www.espn.com/nfl/story/_/id/27245145/lawyer-peterson-debt-trusted-wrong-people

Washington Commanders running back Adrian Peterson was "trusting the wrong people," his attorney said, and is deeply in debt after making nearly $100 million in his career.

Peterson is being sued for failing to pay back a $5.2 million loan, The Athletic reported.

According to The Athletic, Peterson, after interest and legal fees, owes $6.6 million to DeAngelo Vehicle Sales, who claimed he had defaulted on his loan in the lawsuit that was filed in New York. Peterson had borrowed money from the lending company to pay off other creditors, and he also must pay a combined $3 million to two other creditors.


Sad.

Clinton Portis also got burned by trusting the wrong people too iirc.

 

[Aerolithe_Lion]

Can you not simply put that much money in a bank? Or are these stories about where they try to get some huge investment to double their money?

 

[EST_1986]

Can you not simply put that much money in a bank? Or are these stories about where they try to get some huge investment to double their money?

Sounds more like a T.O. situation where someone was stealing money from him, but we will see once the actual story comes out.

 

[rynochop]

Thrivest specialty funding? Deangelo vehicle sales? When you owe millions to companies that sound like money laundering operations, it ain't good.
I can see some bottom of the roster guys who are out of the league in 4 years being broke, but not these ones who should have generational wealth. These clowns who no nothing about business should just put their money in mutual funds

 

[Pape]

some get ripped off
some over spend
some surround themselves with yes men/friends/hanger-ons looking for a free ride
this isnt a new story, its been told time and time again

 

[tyke1doe]

Thrivest specialty funding? Deangelo vehicle sales? When you owe millions to companies that sound like money laundering operations, it ain't good.
I can see some bottom of the roster guys who are out of the league in 4 years being broke, but not these ones who should have generational wealth. These clowns who no nothing about business should just put their money in mutual funds

Exactly.
They'd be safer putting them into CDs and money market funds.

 

[kskboys]

Can you not simply put that much money in a bank? Or are these stories about where they try to get some huge investment to double their money?

No chit. Edward Jones, anyone?

 

[kskboys]

Financial counseling is made available to rooks.

 

[Melonfeud]

I saw that header posted up over on the Drudge,as it told me I all that was needed to know without
"Hitting the Click"

 

[atlantacowboy]

Stunning.

 

[PJTHEDOORS]

Let's see...humans need a roof over their heads, daily food/water, clothes, health care, a vehicle for traveling. Didn't know that exceeded $100 mill price tag.

 

[CyberB0b]

Can you not simply put that much money in a bank? Or are these stories about where they try to get some huge investment to double their money?

They try to do the right thing and get people to manage their money, and just get taken to the cleaners. It's pretty sad.

 

[kskboys]

They try to do the right thing and get people to manage their money, and just get taken to the cleaners. It's pretty sad.

Financial counseling is made available.

There's an Edward Jones on every corner.

 

[Hailmary]

some get ripped off
some over spend
some surround themselves with yes men/friends/hanger-ons looking for a free ride
this isnt a new story, its been told time and time again

Don't forget child support.

 

[big dog cowboy]

Don't forget child support.

He has a bunch of them!

 

[InTheZone]

Don't forget child support.

Sadly this seems to be the biggest problem and it shouldn't be. But I will say our system is royally screwed up when child support is more than $1000/month for these rich athletes