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Wednesday, December 12, 2018

Adrian Peterson ordered by judge to pay $600,000 loan

Adrian Peterson

Adrian Peterson has been ordered by a Hennepin County judge to pay back a $600,000 loan to a bank.

Back in October, we shared a report that Peterson was being sued by Crown Bank for defaulting on a $2.4 million loan.

Peterson has paid back about $1.9 million on the loan, but he still owes $600,000 thanks to the high interest rate.

The Star Tribune reported about the status of Peterson’s financial case. They say he put up his Vikings contract as collateral for the loan, but that was a problem after he was cut by Minnesota. He also agreed to allow the bank to put a mortgage on his home, but they found out he already had two mortgages on the home that are for more money than the property is worth.

Peterson struggled to find a job last year before agreeing to a deal with the Saints. The deal didn’t work out and he was traded to the Cardinals where he had an up-and-down stint before a neck injury ended his season. He’ll be 33 entering the 2018 season, and it’s hard to envision him getting much money to keep playing.

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