Now, a decade after he signed a 10-year, $102 million deal with the Vikings (including a $16 million signing bonus), the South Florida Business Journal reports Culpepper, a Florida native, has lost one of his homes.
In February, Sun Trust Bank filed a foreclosure lawsuit on his 9,867-foot home in Broward County, Fla., After the home was surrendered in April, a debt of $3 million was forgiven. The publication reports Culpepper bought the home in 2006 for $3.67 million with a $2.93 million mortgage.
When he was traded from Minnesota to Miami in 2006, Culpepper reworked his contract and collected a $7 million signing bonus. But he only spent one disappointing season with the Dolphins before the team released him.
Earlier this month, the bank decided to drop the lawsuit, meaning it won’t pursue other means of debt relief against Culpepper, who spent his 11-year career with the Vikings, Dolphins, Raiders and Lions. He owns another home in the Broward County suburb of Weston.