We have all heard the stories about athletes spending all their money on nonsense and ending up broke. For a long time, older players encouraged younger guys just joining the league to invest their money and spend it wisely. They even created a rookie symposium in the NFL to ease young guys into the league.
The most recent Adrian Peterson story will make you feel bad. Peterson is allegedly close to broke despite amassing a new $100 million fortune through his NFL career, and one bad investment left him exposed to have much of that stolen.
He’s deep in debt after his lawyer says he trusted people who ripped him off.
A statement released by Peterson’s lawyer, Chase Carlson says:
“The truth behind Adrian Peterson’s current financial situation is more than is being reported at this time, because of ongoing legal matters, I am unable to go into detail, but I will say this is yet another situation of an athlete trusting the wrong people and being taken advantage of by those he trusted. Adrian and his family look forward to sharing further details when appropriate.”
The lawyers tweet came just shortly after it was reported that Peterson is being sued for failing to pay back a $5.2 million loan. Peterson will receive a $1 million bonus if he makes the Washington Football Team roster, at which point he will receive another $1.2 million in base salary. But hopefully Adrian sorts this situation out, because that $2.2 itself won’t be enough to settle the lawsuit from the state of Pennsylvania.