As slow-time stories go, this one is potentially a doozy.
Via Tashan Reed of TheAthletic.com, a recent bankruptcy filing by Jocelyn Pierce indicates that her husband, Raiders coach Antonio Pierce, is financially responsible for $28 million in civil judgments.
Citing documents obtained by TheAthletic.com, Reed explains that the bankruptcy filing includes a statement from Jocelyn Pierce that creditors have attempted to collect assets belonging to the couple. Nissan Motor Acceptance Corporation has a $23 million judgment and Hyundai Capital America has a $4.5 million judgment. According to the filing, both recently attempted to garnish Antonio Pierce’s wages with the Raiders.
That sparked the bankruptcy filing. Jocelyn Pierce has until July 12 to “accurately gather all information concerning the community property while attending to her home and children.”
The judgments apparently trace to an investment made in car dealerships during the 2010s. Personal guarantees apparently were made by Antonio Pierce. When the businesses in which he invested defaulted on their loans, the lenders obtained judgments against those who guaranteed the debts, including Antonio Pierce.
It’s unclear why Jocelyn Pierce has filed for bankruptcy if, as it appears based on the reporting by Reed, Antonio Pierce owes the money.
It’s rare, if not unprecedented, for an NFL head coach to be entangled in legal issues entailing alleged debts of that magnitude. Although the bankruptcy laws will afford some protection, the situation quickly can become a major headache that won’t make his first full season as an NFL head coach any easier.