Report: Adrian Peterson being sued for defaulting on bank loan
Adrian Peterson is being sued for defaulting on a bank loan, according to a report.
The Star Tribune says Peterson is being sued by Minneapolis-based Crown Bank for allegedly defaulting on a $2.4 million loan.
The suit says Peterson took out the loan in May, 2016, but defaulted a few months later in October. He reached a forbearance agreement with the bank in which he agreed to pay back the loan by Dec., 2016, but he failed to comply and only paid back $1.2 million.
Peterson asked for more time to pay back the loan and has made some payments, but he still owes around $600,000.
Peterson was with the Minnesota Vikings from 2007-2016. He became a free agent earlier this year and eventually signed with the Saints. His stay with the team wasn’t going well, and on Tuesday New Orleans traded him to Arizona.