Antonio Pierce, the head coach of the Las Vegas Raiders, is facing over $28 million in civil judgments stemming from his involvement as a passive investor in car dealerships in the 2010s. [1][2][3][5]
Specifically, two lenders - Nissan Motor Acceptance Corporation with a $23 million judgment and Hyundai Capital America with a $4.5 million judgment - have recently attempted to garnish Pierce's wages from the Raiders and liquidate the couple's assets to collect on these judgments. [1][2][5]
To protect their assets, Pierce's wife Jocelyn filed for bankruptcy in the U.S. Bankruptcy Court in Arizona on June 12, 2024. [1][2][5] The bankruptcy filing states that despite Pierce's limited role as a passive investor, he was asked to sign personal guarantees for the dealerships, leading to the substantial judgments against him when the businesses defaulted on loans. [1][2][5]
This financial crisis poses a significant challenge for Pierce as he enters his first full season as the Raiders' head coach, having previously served as the team's interim head coach last season. [2][3][5] The bankruptcy proceedings are ongoing, with a status conference scheduled for July 24 in Phoenix. [5]
Sources
[1] Raiders coach Antonio Pierce subject to judgments of over $28M as ... https://www.nytimes.com/athletic/5591505/2024/06/25/antonio-jocelyn-pierce-bankruptcy-raiders/
[2] Antonio Pierce's wife files for bankruptcy stemming from Raiders ... https://www.cbssports.com/nfl/news/antonio-pierces-wife-files-for-bankruptcy-stemming-from-raiders-hcs-previous-car-dealership-involvements/
[3] Report: Antonio Pierce faces civil judgments totaling $28 million https://finance.yahoo.com/news/report-antonio-pierce-faces-civil-032546489.html
[4] Unpacking bankruptcy reports around Antonio Pierce | NFL on NBC https://www.youtube.com/watch?v=uq7ucb7gke0
[5] Raiders coach Antonio Pierce's wife Jocelyn files for bankruptcy https://www.reviewjournal.com/sports/raiders/antonio-pierces-wife-files-for-bankruptcy-over-28m-in-judgments-against-raiders-coach-3075112/