|04-12-2012, 11:52 AM||#1|
First Team All Pro
Join Date: Jul 2004
Ravens OT Bryant McKinnie Owes $4.3 Million On Lockout Loan
During the NFL lockout last year, there were a number of players who took out high interest, risky loans, Baltimore Ravens lineman Bryant McKinnie took a huge gamble on the eve on the 2011 NFL lockout and now he owes more than $4.3 million according to TMZ.com. McKinnie was a member of the Minnesota Vikings and in February 2011, he took out a $4 million personal loan with Pro Player Funding(PFF) which specialized in "lockout loans" for NFL players. The loan was very high risk with high interest rates and a clause that allowed PPF to call in the entire amount due if Bryant missed one payment and that's exactly what happened in August 2011 right after the lockout ended and Bryant was cut from the Vikings. According to documents, McKinnie had directed his paychecks to go directly from the Vikings to PPF., but when Bryant was fired and the paychecks stopped, he never arranged for PPF to get its payments and he missed his August bill. PPF instantly went to the court and obtained a judgment against McKinnie ordering him to pay back his entire loan plus interest totaling $4.3 million.
Source: The Redzone
Last edited by Sweets; 04-13-2012 at 11:06 AM.
|vikings, ravens, nfc, afc, afcnorth, nfcnorth, nfl-news|
|Thread Tools||Search this Thread|
|Thread||Thread Starter||Forum||Replies||Last Post|
|Ravens Want OT Bryant McKinnie To Lose Weight And Get In Shape||Sweets||Baltimore Ravens||0||04-02-2012 05:49 PM|
|Ravens OT Bryant McKinnie Down To 370 Pounds, Hopes To Get As Low As 355||BigBlueBruiser||Baltimore Ravens||6||08-27-2011 05:43 PM|
|Ravens Interested In Ex-Vikings OT Bryant McKinnie||BigBlueBruiser||Baltimore Ravens||4||08-24-2011 11:44 AM|
|Ravens Sign Ex-Vikings OT Bryant McKinnie To A Two-Year, $7.5M Deal||BigBlueBruiser||Baltimore Ravens||0||08-23-2011 07:39 PM|