Detroit Lions RB Adrian Peterson ordered to pay $ 8.3 million to loan company, records show

Detroit Lions running back Adrian peterson was ordered to pay nearly $ 8.3 million in summary judgment to a Pennsylvania loan company after a delinquent loan in 2016, according to New York State Supreme Court records.

DeAngelo Vehicle Sales LLC sued Peterson in 2018 after the running back failed to repay an initial $ 5.2 million, including interest, as of March 1, 2017. Including interest in 2018 when the case went down Filed in the New York Supreme Court, DVS demanded $ 6,546,448.32 – then continuing interest for each day it didn’t pay. That was over two years ago.

On Wednesday, DVS asked for $ 8,268,426.21, which includes ongoing interest of $ 2,207.12 per day on the loan that has not been repaid. Interest, which was 16%, will be lowered to 9%, which is New York State law, in the future.

In the original settlement agreement, which Peterson notarized on October 22, 2019, Peterson acknowledged “the existence and continuation of its default under the loan and applicable loan documents, and that Peterson’s obligation under of the loan is immediately due and payable “.

Peterson did not repay the loan by the originally agreed date of March 1, 2017, and after DVS filed a complaint in 2018. In 2019, Peterson signed a settlement agreement, which required him to make payments of $ 50. $ 000 on October 18 and October 31, 2019, as well as a payment of $ 2.25 million on November 11, 2019, then a final payment of $ 25,000 within 10 days of the team withdrawing its option Washington Football League for the 2020 season. If Peterson failed to honor the settlement agreement, he would have to pay the full original loan amount plus interest.

DVS attorney Jeffrey Reina said in court Wednesday that Peterson had repaid $ 165,000 from the original agreement. Reina testified in court that he had not heard from Peterson or Doug Wolfe, which the Hon. Paul B. Wojtaszek said it was the “last known performance of Peterson”.

Peterson did not appear in court and no one was representing him. His original lawyer in the case, Scott Philbin of Bond, Schoeneck & King, stepped down in August 2020. Messages left for Philbin and for Lauren Renschler, who is Peterson’s publicist, were not referred to ESPN .

Peterson, according to Spotrac, has earned $ 102,803,319 during his career, including $ 1.05 million last season from the Lions.

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