Yer busted

Since the Minnesota Vikings released running back Adrian Peterson after the 2016 season, I always assumed he was running (no pun intended) on fumes. However, he popped up in 2018 as a member of the Washington Redskins and came through with a 1,000-yard rushing season. Despite the success he had last year, I was still a bit surprised that he chose to come back in 2019 given he's 34 years old with even more tread on the proverbial tires.

A story about Peterson's financial situation may have provided us a rationale as to why he's continuing his football career.

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.

Sadly, Peterson is just another statistic among well compensated professional athletes. The ESPN 30 for 30 film Broke cited some very sobering (if not shocking) statistics.

According to a 2009 Sports Illustrated article, 60 percent of former NBA players are broke within five years of retirement. By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress. Sucked into bad investments, stalked by freeloaders, saddled with medical problems, and naturally prone to showing off, many pro athletes get shocked by harsh economic realities after years of living the high life.

It's been no secret that Peterson has fathered multiple children with several women, so child support costs alone are exorbitant. And just four years ago he threw himself a 30th birthday bash where one of the indulgences included dressing up as Aladdin and riding in on an actual camel!

One aspect of the film Broke talked about the NFL rookie symposium hosting a breakout session dealing specifically with financial matters. However, the young men attending largely tuned out of what was being said by former players and other assorted advisers. I get a sense that the air of invincibility is at its highest upon signing a pro contract.

With his highest earning potential behind him, Peterson faces a frighteningly uncertain future. Unfortunately, he appears to have been his own worst enemy.

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