Adrian Peterson defines the odds as the NFL running back. He will turn 36 in March and has still started in several games for the Detroit Lions. He ran for 604 yards and seven touchdowns, while still showing occasional blasts on the field. But this outrageous, he faces a different type of challenge – one that he is likely to not run around.
ESPN reports that Deangelo Vehicle Sales (DVS) LLC, a Pennsylvania-based loan company, has been ordered to pay Peterson approximately $ 8.3 million in summary judgment. The summary judgment came after a loan was defaulted by Peterson in 2016. After that default, Peterson initially paid $ 5.2 million, including interest, as of March 1, 2017. DVS continued to ask for that payment, plus interest, for every day Peterson refused to pay.
This month, DVS asked for $ 8,268,426.21. That amount includes a daily interest of $ 2,207.12, or 16 percent. According to New York state law, the interest rate will fall to nine percent.
Peterson notarized a settlement agreement on October 22, 2019. That agreement stated “the existence and continuation of the loan and its default under the applicable loan documents and Peterson’s liability under the loan is immediately due and payable.” According to DVS’s attorney, the running back has paid $ 165,000 of the initial settlement. But Peterson did not file a court appearance this month and his initial lawyer withdrew the case in August 2020.
However, after not returning the loan until March 1, 2017, Peterson signed a settlement agreement. Under those conditions, he would pay $ 50,000 on October 18 and 31, 2019, $ 2.25 million on November 11, 2019, and pick up another $ 25,000 option within 10 days of the Washington football team. If Peterson defaulted on that settlement agreement, he would pay the full amount of the initial loan, plus interest. Since the amount of that settlement agreement was not paid, Peterson now owes approximately $ 8.3 million.
Peterson has grossed nearly $ 103 million during his career. His contract with the Lions paid him $ 1.05 million last season.