The wife of Las Vegas Raiders head coach Antonio Pierce recently filed for bankruptcy to protect marital assets after it was revealed that the former NFL player was responsible for debts totaling over $28 million. Jocelyn Pierce filed the petition in Arizona, where she resides, on June 12 in response to failed investments in car dealerships in the early 2010s that led to creditors seeking repayment from the couple.
Court documents indicated that Mr. Pierce had invested in car dealerships in the 2010s but had no direct involvement in managing the businesses. Despite this, he was asked to sign various documents and later discovered that personal guarantees bearing his name had been produced. When some of the businesses defaulted on loans, creditors obtained judgments against both the businesses and Mr. Pierce as a guarantor.
Two lenders, Nissan Motor Acceptance Corporation and Hyundai Capital America, hold judgments against Pierce for $23 million and $4.5 million, respectively. They attempted to garnish his wages with the Raiders to satisfy the debt, leading Jocelyn to file for bankruptcy. She was granted an extension to provide additional paperwork after claiming she did not sign any guarantees and was pressured to file quickly when creditors tried to collect.
Antonio Pierce, 45, joined the Raiders in 2022 as the linebackers coach and became interim head coach the following year after Josh McDaniels’ dismissal. He was officially appointed head coach in January. The couple’s financial situation highlights the challenges faced by professional athletes and their families when managing investments and financial obligations. Such circumstances can have far-reaching consequences beyond the field.