Remember when the NFL Lockout put some players in such financial distress that they were "forced" to take out loans with ridiculous terms including huge interest rates? Well, current Baltimore Ravens LT Bryant McKinnie was one of them, although his loan was taken out when he was with the Minnesota Vikings.
According to celebrity gossip and entertainment news giant, TMZ, McKinnie took out a $4 million loan just before the Vikings cut him, causing him to miss a payment, which automatically invoked a full-payment-due clause. This is part of the TMZ story below and click on the link to read the entire article:
"Back when McKinnie was a member of the Minnesota Vikings...dude must have had a feeling a lockout was on the horizon...because in February 2011, he took out a $4 million personal loan with Pro Player Funding...which specializes in "lockout loans" for NFL guys looking to cover their asses during the impending pay freeze.
According to court docs obtained by TMZ...the loan was VERY high risk...with high interest rates and a clause that allowed PPF to call in the entire amount if Bryant missed ONE payment.
And that's exactly what happened in August 2011...right after the lockout ended and Bryant was CUT from his team."