DeAngelo Vehicle Sales, LLC sued Peterson in 2018 after he defaulted on a 2016 loan. Peterson owed an initial sum of $5.2 million, including interest, by March 1, 2017.
DVS asked for over $6.5 million from the former All-Pro running back, plus continued interest for every day he didn't pay, when the company filed the case in 2018.
DVS requested nearly $8.3 million Wednesday, including continued interest of over $2,200 per day on the loan that hasn't been repaid.
The interest rate will be lowered from 16% to 9% percent, which is New York State law, going forward, per Rothstein.
Peterson signed an initial settlement agreement in 2019. Per the agreement, he'd have to pay the entire amount of the original loan, plus interest, if he defaulted on the arrangement.
The attorney for DVS, Jeffrey Raina, said in court Wednesday that Peterson had only paid back $165,000 of the initial agreement.
Peterson didn't make an appearance in court, nor was there any legal counsel representing him, adds Rothstein. His initial attorney in the case withdrew in August 2020.
Peterson's earned more than $100 million over the course of his 15-year career. He made $1.05 million in 2020 as a member of the Lions.