Sports

Former NFL Running Back Reaches Agreement On $190,000 Casino Debt

(Photo by Jim McIsaac/Getty Images)

Sebastian Obando Contributor

Former NFL running back Clinton Portis reached an agreement with a Florida bankruptcy court regarding the $190,000 debt he owes a New Jersey casino, the Denver Post reports, .

Back in 2011, the Borgata casino in Atlantic City gave Portis $200,000 in credit. Portis, at the time, expected to receive an $8 million contract from the Washington Redskins, but was later cut that offseason after failed contract negotiations.

Now, Portis does not have sufficient funds to cover the debt, and six checks he already signed to the casino have bounced.

Portis told Sports Illustrated last June he plotted to kill one of his financial advisers. Portis, 36, invested in Success Trade Securities, which turned out to be a Ponzi scheme, and lost $1 million in an Alabama casino. Portis’ lawyers also say an unnamed financial adviser left with “upwards of $8 million” of the player’s money.

The former NFL running back already repaid $30,000 of the original $200,000 owed, but the remaining $170,000 increased to $190,000 after interest and fees.

According to the court agreement, he will pay 10 percent of any income he receives above $30,000 through August 2021 to the Borgata casino.

Portis signed an eight-year $50.5 million contract in 2004 with the Redskins, after a blockbuster trade with the Denver Broncos for cornerback Champ Bailey. He was 22 years old.

Much of that money is now gone, and he has filed for bankruptcy in the past.