Adrian Peterson made $100 mil but he's broke

[antone112]

Elizabeth Warren can help him.

 

[Gman]

His lawyer is strongly suggesting he was fleeced by another financial consultant. But man, how do you screw up that much money to the extent that you are broke?

It seems baffling, but this sort of thing is far from an isolated incident.

It comes down to human psychology, IMO.

• From an evolutionary standpoint, we are wired as hunters and gatherers. Our brains tackle goals that are immediate or short term. We are not necessarily good at thinking in terms of the future.
• An extraordinary amount of excess can leave us thinking that the good times will last forever... (especially when that excess is gained in a short period of time). A guy like Peterson can make decision after decision after decision from a spending standpoint that doesn't have an immediate negative impact, and therefore his spending behaviors get reinforced and entrenched.
• All too often, top athletes get royal treatment. That can F with your head, too.
• Finally: within our own consciousness, we often compartmentalize. It's quite possible that while times were good... Peterson didn't give the financial aspects of his life much of a thought.

 

[antone112]

 

[Iggloo]

Damn look at all the wealth managers we have here? It’s well documented how many shady handlers get in these guys lives. Snake oil salesman, all of them. They go as far as making false documents to make your money look secure or growing. You call AP an idiot but sounds like he’s more of a victim. There’s a reason most lottery winners go broke too. Many people don’t know how money works and when they get that kind of wealth you enter into a very dark world sometimes.

The NFL gives rookies a symposium every year with some basic tips on how to manage the newfound money they get. Still, every year we hear stories about dumbasses buying Bentleys with their rookie checks and otherwise doing unwise things with their money. So yes, some are taken advantage of, but many seem to ignore common sense advice and live as if their money will last forever, even as people tell them that won't be the case.

The average NFL career is 3.3 years according to the NFLPA, and 6 years according to the NFL. Either way, you don't have to be a mathematician to see that that means the big checks won't last long.

 

[beardown07]

Have ya ever listened to the guy talk?? He's borderline retarded.

 

[Dolemite censored]

he trusted people who ripped him off.

That's the story right there.

 

[Cyder]

I would take my chances slummin' on $55 million

Thems @Cyder dollas

I keep that in the ashtray of my Gulfstream

 

[boogiewithstu2007]

When are these guys ever going to learn to constantly keep on top of their fiances and not to completely trust someone to do it for you.

If you have someone managing your money you better watch them like a hawk and make sure they aren't ripping you off.

For sure, just watch your own money, don't trust anyone but you ...

 

[GhostOfPoverty]

When are these guys ever going to learn to constantly keep on top of their fiances and not to completely trust someone to do it for you.

If you have someone managing your money you better watch them like a hawk and make sure they aren't ripping you off.

I wouldn't expect non-Vikings fans to be very aware of his financial situations, but Adrian Peterson's financial problems go well beyond trusting the wrong people to manage his money for him. He is simply not a particularly smart person, and it's as simple as that. The guy would blow all kinds of money just at training camps in Minnesota, lived very lavishly with multiple mansion-type homes, and had like 7 kids with 5 different women or something, that child support will add up fast. He was always hitting up young random women at training camps, too. Bought a camel for his big birthday bash a few years ago when he was demanding a new deal from Minnesota right after they paid him to sit out for a year while on 1-year suspension for his domestic abuse issues. The list goes on. You've got no one to blame but yourself for your financial struggles when you are arguably dumber with your millions upon millions of dollars than Warren Sapp was.

 

[Beaker]

Wow, that is a real switch to the genitals. I hope he can beat this. He appears to be getting some real abuse right now, but I'm sure he can whip himself back into shape.

 

[ATL96Steeler]

Wow.

Washington running back Adrian Peterson has made about $100 million in salary, and millions more in endorsements, during his NFL career. But he’s deep in debt after his lawyer says he trusted people who ripped him off.

“The truth behind Adrian Peterson’s current financial situation is more than is being reported at this time,” attorney Chase Carlson said in a statement. “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 statement came hours after TheAthletic.com reported that Peterson is being sued in Pennsylvania for failing to pay back a $5.2 million loan. In two separate matters, judges have ordered Peterson to pay $2.4 million to one creditor and $600,000 to another creditor.

Despite the fortune Peterson has made, he appears to be nearly broke, with debts that he is struggling to pay, and debts that he’ll continue to struggle to pay even after getting a $1.5 million signing bonus to remain in Washington this year, with another $1 million in salary on the way for the season.

Adrian Peterson deep in debt, lawyer says he trusted the wrong people

I'm sure he's lost a lot of money, but his version of broke is probably a little different than ours.

 

[ATL96Steeler]

The guy would blow all kinds of money just at training camps in Minnesota, lived very lavishly with multiple mansion-type homes, and had like 7 kids with 5 different women or something, that child support will add up fast. He was always hitting up young random women at training camps, too. Bought a camel for his big birthday bash a few years ago when he was demanding a new deal from Minnesota right after they paid him to sit out for a year while on 1-year suspension for his domestic abuse issues. The list goes on. You've got no one to blame but yourself for your financial struggles when you are arguably dumber with your millions upon millions of dollars than Warren Sapp was.

No one should feel sorry or even emphathy for Peterson.

One of the expenses that hits these players with multiple kids with different mammas like a ton of bricks...child support. The only way you can get out of that is to claim broke. The other stuff you mentioned basically re-enforces the old adage about a fool and his money...they will soon part ways.

 

[mrschaney]

Sometimes I'm glad I'm a hillbilly. I make a lot less money in comparison and people underestimate me, my car has 250k miles on it, but when it dies I can go to a dealership and wriite a check for a new one.
Gofundme for AP?

 

[ill]

When are these guys ever going to learn to constantly keep on top of their fiances and not to completely trust someone to do it for you.

If you have someone managing your money you better watch them like a hawk and make sure they aren't ripping you off.

I feel like the majority of them do fine with their finances. One out of how many fucks it all up? That doesn't mean the yare all dumb with the spending

 

[antone112]

Oops this was supposed to be in the paper straw thread. Not sure it applies here. Man, is my face red.

 

[Mofo]

That Bobby Bonilla neverending contract looks pretty smart right now.

Not for the Mets though.

 

[NinerSickness]

Have ya ever listened to the guy talk?? He's borderline retarded.

True. He made absolutely no sense in this interview:

 

[Southieinnc]

Wow.

Washington running back Adrian Peterson has made about $100 million in salary, and millions more in endorsements, during his NFL career. But he’s deep in debt after his lawyer says he trusted people who ripped him off.

“The truth behind Adrian Peterson’s current financial situation is more than is being reported at this time,” attorney Chase Carlson said in a statement. “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 statement came hours after TheAthletic.com reported that Peterson is being sued in Pennsylvania for failing to pay back a $5.2 million loan. In two separate matters, judges have ordered Peterson to pay $2.4 million to one creditor and $600,000 to another creditor.

Despite the fortune Peterson has made, he appears to be nearly broke, with debts that he is struggling to pay, and debts that he’ll continue to struggle to pay even after getting a $1.5 million signing bonus to remain in Washington this year, with another $1 million in salary on the way for the season.

Adrian Peterson deep in debt, lawyer says he trusted the wrong people

Wow! AP made more money than you can shake a stick at?

 

[mrwallace2ku]

Elizabeth Warren can help him.

she has a plan...

 

[mrwallace2ku]

Have ya ever listened to the guy talk?? He's borderline retarded.

thanks oklahoma...