Adrian Peterson has defaulted on another multimillion-dollar loan, the Baltimore Business Journal reported, citing court records.
The Redskins running back has been ordered to pay nearly $2.4 million to a lending service after he defaulted on a $4 million loan
According to the court documents, Democracy Capital Corp. of Bethesda, Maryland, sued Peterson in June claiming he failed to pay the balance of the loan he took out in April 2016 that was due in February 2018.
The loan carried a 15 percent interest rate but that jumped to 23 percent when Peterson didn’t make the initial repayment of $200,000 in July 2017, the report noted. After the company received a $1.65 million payment in July 2018, another payment of $50,000 was made in December 2018.
“Adrian is working with the lender,” Peterson’s attorney, Doug Wolfe, told the Baltimore Business Journal. “We did know the filing was coming. It’s more of a procedural thing than anything else. It’s not currently going to be responded to. We are in negotiations to resolve the matter.”
Peterson, who played with the Vikings from 2007-16, also borrowed $2.4 million in May 2016 from another lender. He defaulted after just five months and was ordered by a Minnesota court in October 2017 to pay back about $600,000.
Peterson, 34, is entering his 13th season in the league and, after playing 2018 with the Redskins, signed a two-year deal worth $5 million earlier this year to remain in Washington. If he plays out both seasons of the contract, it would push him past $100 million in career earnings, according to Spotrac.
He split the 2017 season between the Saints and Cardinals after spending the previous 10 years with the Vikings.
He finished with 1,042 yards rushing for the Redskins last season.