AP In Massive Debt?

[RobertWeathers]

I thought the 30 for 30 "Broke" was great, but sad. Some of these players are not advised properly nor equipped to manage their money.

Sometimes these articles don't tell the whole story as loans and financing can be used to launch or infuse capital in businesses which are poised to grow.

My gut tells me that is not the case with AP as it seems he has a personal liquidity issue.

Adrian Peterson Appears To Be Seriously In Debt

 

[jah]

Something tells me he's not retiring until he absolutely can't get a job anymore.

 

[RobertWeathers]

Something tells me he's not retiring until he absolutely can't get a job anymore.

Yea I don't see how he can afford to.

The other factor is IIRC he has 9 children. I can't even imagine what he is shelling out monthly in child support and perhaps even alimony.

 

[XLIX]

I don’t think he has enough earning power to make up for the debt he owes (if the article is correct). He owes several millions of dollars and really makes roughly $1 million per year.

 

[Kontradiction]

Yea I don't see how he can afford to.

The other factor is IIRC he has 9 children. I can't even imagine what he is shelling out monthly in child support and perhaps even alimony.

Outstanding financial decisions by AP. I’m sure he also has more than a handful of Jordan’s too.

 

[SHOWTIME15]

It’s tough. A lot of these players grow up poor, and suddenly you are making $10 million per year as a rookie. Your first temptation is to spend. You want to take care of your family, perhaps by buying a new house for your mom/dad. You want to buy luxury items, etc. it’s the same deal with people who play the lottery who end up winning. Very few people in life go from being poor to being rich overnight, but this is exactly what happens to football players. Most people who become rich gradually get there and learn smart financial decision making along the way.

 

[RedSleevesPinkStripes]

Yea I don't see how he can afford to.

The other factor is IIRC he has 9 children. I can't even imagine what he is shelling out monthly in child support and perhaps even alimony.

His profile says he only has 4 kids

Adrian Peterson

 

[Wozzy]

Imagine being out there taking that beating, knowing that you're working for free or just to pay down debt... sucks.

 

[chris_in_sunnyvale]

Well, we definitely know AP doesn't stand for Accounts Payable.

Regards,
Chris

 

[RedSleevesPinkStripes]

Imagine being out there taking that beating, knowing that you're working for free or just to pay down debt... sucks.

I still kick myself for wasted money on a lease I entered in years ago.. and that only equated to roughly 20 grand (it got totaled by another driver so it got paid off). I can't even imagine what it must feel like to realize you blew millions and millions.

 

[RobertWeathers]

His profile says he only has 4 kids

Adrian Peterson

I saw that too and I think it is wrong.

I was going off this.

How Many Kids Does Adrian Peterson Have? He's Fathered at Least 7 Children

then this...

Mother of Adrian Peterson's 9th Child Wants $1.9M in Child Support

 

[RobertWeathers]

Well, we definitely know AP doesn't stand for Accounts Payable.

Regards,
Chris

...or Accountable for Paternity

 

[JarOfMayo51]

Absolutely crazy the decisions these players make. You have all that money and they don’t think to see a financial adviser? Pretty sure a lot of teams offer financial advising services to players, even newly drafted rookies

I guess some players hire their idiot cousin or something to be their financial adviser/accountant and get robbed, etc too

$10 million a year, you could buy yourself and your parents a decent house, buy yourself a little toy sports car and still have boatloads of money left over to live comfortably

I believe Warren Sapp made roughly $80 million in his career and went bankrupt. Just amazing

 

[The Brandon Five]

Cristal ain't gonna drink itself, amirite?

 

[Pat the Pats Fan]

spending money like Brewster's Millions, except there isn't a windfall at midnight...

 

[Ice_Ice_Brady]

Report: Jets, Adrian Peterson in GM talks

 

[Clonamery]

Report: Jets, Adrian Peterson in GM talks

Pay the man! He needs to pay his debt. He needs the green!

 

[Kontradiction]

It’s tough. A lot of these players grow up poor, and suddenly you are making $10 million per year as a rookie. Your first temptation is to spend. You want to take care of your family, perhaps by buying a new house for your mom/dad. You want to buy luxury items, etc. it’s the same deal with people who play the lottery who end up winning. Very few people in life go from being poor to being rich overnight, but this is exactly what happens to football players. Most people who become rich gradually get there and learn smart financial decision making along the way.

It’s not really that hard. You don’t buy luxury items like jewelry in excess, you buy places for your mom/dad that you can realistically afford (if you even have to do that), you don’t buy expensive luxury cars, and you either learn to use a condom or get a vasectomy. These are sad stories but I can’t feel too much empathy for someone who spends like a drunken sailor when their playing career is going to be short by design and predictably ends up in these situations.

 

[SammyBlueCat]

A lot of young men that make a pro sports team buy their parents a home which of course is a good kind gesture. They forget that there will be taxes to pay so mom and dad lose the home.

 

[Ice_Ice_Brady]

It’s not really that hard. You don’t buy luxury items like jewelry in excess, you buy places for your mom/dad that you can realistically afford (if you even have to do that), you don’t buy expensive luxury cars, and you either learn to use a condom or get a vasectomy. These are sad stories but I can’t feel too much empathy for someone who spends like a drunken sailor when their playing career is going to be short by design and predictably ends up in these situations.

I agree. I started with nothing, too, and I’ve worked extremely hard over many years, while rarely spending anything luxurious on myself and supporting my family and kids. This guy has played a sport and been treated like a superhuman entity, while getting over $100M. Cry me a river. There are plenty of legit sob stories out there and this isn’t one of them. Feel bad for his kids, fine, but this gluttonous, selfish loser can get a McJob for all I care.