How this NFL star went from $100 million to completely broke in just a few years

Adrian Peterson, one of the most accomplished running backs in NFL history, earned over $100 million (€93 million/£80 million) during his illustrious career. Despite earning more than most of us could ever dream of, the former NFL player is now struggling to pay off a $12 million (€11 million/£10 million) debt.

Peterson's financial mismanagement has become so troubling that he has been engaged in a long legal battle to pay off a debt that he incurred in 2016, which resulted in a court-ordered sale of his assets in July 2024 to help cover the debt, as reported by USA Today.

Reports from the likes of the Daily Mail even suggested that a number of his NFL trophies, including his MVP award in 2012 were put up for sale at an online auction in Texas, though Peterson himself dismisses this claim.

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These issues were recently discussed in length by former NFL star and broadcaster Shannon Sharpe (left) expressed his bewilderment over how Peterson, who made a fortune over the span of his career, could be facing such severe financial difficulties.

Adrian Peterson entered the NFL as a first-round draft pick in 2007, signing a hefty contract with the Minnesota Vikings. Over the next decade, he established himself as one of the league’s top players, amassing accolades, setting records, and building a legacy as one of the greatest running backs in football history.

With his on-field success came substantial earnings. According to reports, Peterson earned around $103 million in salary and bonuses over his career. He also had multiple endorsement deals with major brands like Nike and Wheaties, further padding his bank account.

With such an income, many would assume financial security was a given. However, for Peterson, like numerous other athletes, the transition from earning to managing wealth was far more challenging than anyone anticipated.

Despite his remarkable career earnings, Peterson found himself in financial distress. In 2019, he was sued for defaulting on a loan and was reportedly deeply in debt, unable to meet his obligations. It’s estimated that Peterson has lost the majority of his wealth and now faces considerable financial hardship, as reported by ESPN.

One of the primary reasons behind Peterson’s financial struggles appears to be poor investment decisions and reliance on untrustworthy financial advisors. In 2019, Peterson’s lawyer issued a statement suggesting that the running back had fallen victim to unscrupulous individuals who took advantage of him and his finances, as reported by TalkSport.

He would then, according to Sharpe, take out loans to supplement his struggling investments. "You made a 100 million and then he borrowed, I think he borrowed like 5 million in two years," Sharpe said on an episode of his Nightcap podcast in September 2024. "The end result when you borrow money like that [is] you gotta pay like 20-25% interest."

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Another contributing factor to Peterson’s financial woes is the lifestyle that often accompanies immense wealth. Professional athletes, especially those of Peterson’s stature, are thrust into a world where lavish spending becomes normalized. Luxury homes, expensive cars, high-end fashion, and extravagant parties all became the norm.

One example of this is his 30th birthday party in 2015: a Middle Eastern-themed event for 300 guests. At this lavish affair, Peterson would enter the party riding on a rented camel, commissioned a 12-foot ice bar and also paid for Jamie Foxx to dance to Michael Jackson's 'Don't Stop 'til You Get Enough', as reported by Bleacher Report at the time.

While it was surely a fun time for all involved, it would have caused a huge dent in his finances. As Sharpe put it: "Who takes out of a loan to throw themselves a birthday party unless you’re what? Trying to impress the partygoers?"

Peterson’s story is not an isolated case. His financial struggles are emblematic of a broader issue that afflicts many professional athletes across various sports. According to a 2009 report by Sports Illustrated, an estimated 78% of NFL players face financial difficulties or go bankrupt within two years of retiring.

The reasons are manifold: poor financial planning, lack of education in wealth management, and the pressures of maintaining a lavish public image.

Many athletes come from modest backgrounds and receive little-to-no financial education before suddenly becoming millionaires. The influx of wealth can lead to poor decision-making, exacerbated by the constant pressure to maintain a luxurious lifestyle and support family members, friends, or even an entourage.

Sharpe, who himself made millions during his NFL career, has emphasized how crucial financial literacy is for professional athletes. He pointed out that athletes should focus on learning how to preserve wealth, not just spend it.

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