Former NFL quarterback Daunte Culpepper, who made tens of millions of dollars during his professional football career, has lost his Broward County, Fla., home to a bank foreclosure.
The 36-year-old former player surrendered the 9,867-square-foot home in April to SunTrust Bank in lieu of foreclosure, said the South Florida Business Journal, which first reported the foreclosure. The bank dropped its lawsuit against Culpepper on July 3. Culpepper -- who played 11 seasons in the NFL for the Miami Dolphins, the Oakland Raiders and the Detroit Lions -- purchased the house in 2006 for $3.6 million when he signed with the Dolphins.
SunTrust Bank said in a lawsuit filed in February that Culpepper owed it $3 million. He also maintains a home in the suburb of Weston, the publication reports.
Culpepper was a first round draft pick and three-time Pro Bowl selection. In 2003, the Minnesota Vikings signed him to a 10-year, $102 million contract, which included a $10 million signing bonus.
In 2006, the Dolphins traded for Culpepper and restructured his contract to include a $7 million signing bonus and a $1 million salary in the first year, and then $51.5 million through 2013, the Business Journal reports. The Dolphins released him after just one season, citing injuries and ineffectual performance. Culpepper last played in 2010 for the Sacramento Mountain Lions of the United Football League.
Tom Barrabi is a reporter for the International Business Times. He graduated from Fairfield University in 2011, and has also written for Men's Fitness, Complex, GuySpeed, and...
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