As Adrian Peterson prepares to make his Arizona Cardinals debut following a trade from the New Orleans Saints, one situation from his previous life in Minnesota is making headlines. According to the Star Tribune, Crown Bank in Minneapolis has filed a lawsuit against Peterson alleging that he defaulted on a $2.4 million loan from back in 2016.
“The bank said in its lawsuit that Peterson entered into a forbearance agreement that month where he agreed to pay back the $2.4 million by December 2016. But by that time he had only paid back $1.2 million,” the Tribune reports.
According to the bank, Peterson took out the loan in May of 2016, but defaulted on the loan in October. Ultimately, Peterson paid down the loan to less than $600,000 while asking the bank for more time to come up with the rest.
While the purpose of the loan is not yet known, the bank is seeking the money Peterson still owes plus interest. That comes out to north of $602,000. In the lawsuit, the bank said Peterson “failed to comply with Crown Bank’s demands.” Peterson, 32, was released by Minnesota following last season. After signing with the Saints during the spring, he put up just 81 yards prior to being shipped off to Arizona on Tuesday.
Having earned nearly $100 million in cold-hard cash throughout his career, it is somewhat alarming that Peterson is having such a hard time paying off a loan that’s pennies compared to his earnings.