Raiders HC is Officially BROKE…What happens now?

Raiders HC is Officially BROKE…What happens now?

breaking news I can’t believe this is happening the Raiders head coach Antonio Pierce is officially filing for bankruptcy after investing in car dealerships roughly 10 years ago Antonio Pierce and Jesse Armstead once teammates on the field are now teammates in the car business the whopping $28 million in debt will affect Pierce’s coaching tenure the question is how from what we have gathered there has never been an NFL coach that is actively coaching while Bank corupt could Antonio Pierce essentially end up coaching the Raiders for free this year or will he even be allowed to coach at all we are going to answer some of the big questions surrounding this bankruptcy how serious is this and should Raider Nation be concerned Joselyn Pierce is the wife of Antonio Pierce and in June of 2024 she filed for bankruptcy let me clear up confusion and say that this is not a Joselyn issue she has essentially filed for bankruptcy on behalf of Antonio Pierce according to the filing Antonio invested in car dealerships that defaulted on their loans he is the guarant of these loans meaning that he’s liable for over $28 million owed to Nissan and Hyundai recently Hyundai and Nissan tried to garnish the wages of Antonio Pierce because in 2024 he was hired as the head coach of the Las Vegas Raiders so how did this all happen and where do we go from here well around 2014 Antonio Pierce got into investing in car dealerships you could see him pictured here with the CEO of General Motors and some of his co-investors one of them being former teammate and NFL player of the New York Giants Jesse Armstead along with businessman Michael saparo everything seemed great Antonio was pursuing a business venture after playing in the NFL but then in 2018 Nissan and Hyundai sued Antonio Pierce and his co-investors for missing vehicles and selling cars out of trust selling cars out of trust involves the illegal sell of a car that has been paid for with a loan and then not using that sale to pay back the lender to sum it up in simple layman’s terms which I love hondai and Nissan claimed that they lent cars to Pearson his investors and then Antonio and his investors sold the cars pocketed the money didn’t pay any of the debt back and this is the main reason why Joselyn Pierce filed for bankruptcy today Pierce’s dealership venture also ran into other financial troubles Pierce along with his co-investors and even Nissan and Hyundai themselves ended up being the defendants of a class action lawsuit the class action lawsuit accused the defendants of advertising a set forlife program despite the fact that the business had been struggling and they knew the business would fail and not be able to provide these services for life I’m bringing up this class action lawsuit to show you that Pierce’s dealership Investments essentially collapsed in the business fail so Antonio Pierce is not going to be relying on any dealership money to pay this 28 million back to Nissan and Hyundai it seems like Pierce’s hiring for this high-profile NFL head coaching job with the Las Vegas Raiders caught the attention of Hyundai Ana we know that pierce does a lot of interviews and promos for the team he’s ironically been videotaped a lot in his 64 Impala who knows if Nissan or Hyundai lent him that all this public attention caught the eye of Nissan and Hyundai and they’re wondering where is their money now that this guy is a big time head coach this meme which utilizes the movie Juice starring Tupac perfectly encapsulates the situation what’s up I a seen a couple days what’s been happening there are online sources that claim that Antonio Pierce’s net worth is around $25 million but it is important to note that this is probably false think about it Pierce signed his 26 million doar contract with the Giants back in 2005 and ever since then he’s only worked at the high school level as a head coach and also at the college level at Arizona State as a co-defensive coordinator after all that he finally landed an NFL coaching job being hired by the then Raiders coach Josh McDaniels or maybe defensive coordinator Patrick Graham who really knows but he was only hired as a linebacker coach which is not a significant amount of money obviously the college and high school coaching gigs pay way less than even that so Antonio Pierce is really fortunate to have landed the Raiders head coaching job or else he would not have the ability to pay off this debt however $28 million in debt is freaking huge and much higher than the average NFL head coaching salary Pierce who has no previous NFL coordinator or head coaching experience is likely making much less than the large contracts we’ve seen from high-profile head coaches like Jim Harbaugh who are roughly making around $17 million Pierce’s contract details are not publicly known but based on the average NFL salary for a head coach of his caliber if we had to guess he’s probably making $3 to5 million a year on a three-year contract fully guaranteed that is why I want to emphasize how serious this is and how it could affect his employment with the Las Vegas Raiders this is an unprecedented situation in the NFL we have scoured the internet we could not find an example of an NFL head coach who is bankrupt and actively coaching in the NFL the closest example we have is in 2012 when the Arkansas Razer backs coach John Smith was employed while filing for bankruptcy but was not employed The Following Season let’s get into what happens next for Antonio Pierce on a personal level and then talk about how this could affect the Raiders on a coaching level so Pierce’s wife Joselyn in her bankruptcy filing requested extensions to protect the couple’s assets from being seized it’s important to note that she filed a chapter 11 bankruptcy which means that the Pierce family business is trying to change the terms of the debt likely lower the interest and show a plan to repay the debt basically they’re trying to prove that they can repay it and prevent the lenders from taking their house taking their cars taking their assets and instead just slowly pay them over time the creditors hondai and Nissan could reject this filing and force the Pierce family to sell their current non-exempt assets and distribute the proceeds to the creditors otherwise known as liquid ation or Chapter 7 bankruptcy that would mean that the lenders rather than change the terms of the debt would instead just start taking assets and cash out so Pierce’s creditors hondai and Nissan need to determine if they can get more money now from Pierce or if they would earn more through an extension it all depends on the length of Pierce’s contract and if his creditors think that he will continue to earn a high amount of money in the NFL that would be the most insane pressure I’ve ever seen on a head coach where the dude literally has to keep winning literally has to stay employed to pay off those creditors to be charitable to Antonio Pierce according to the filing Pierce’s Camp claims he was a passive investor wasn’t too involved in the business he claimed to have no management or oversight of the business Affairs but he signed documents that made him a guaran made him liable and honestly based on some of the press we’ve seen behind Pierce’s dealership it does appear at least on the surface level that he was highly involved in these business ventures no matter what this is going to be extremely stressful for Antonio Pierce to deal with in the background during an NFL season and if they reject this chapter 11 bankruptcy filing they could take some of his active wages and assets while he’s a head coach essentially making him coach for free on one level I do feel bad for Antonio Pierce because these creditors are coming after everything he has at the same time based on some of the lawsuits we took a look at in 2018 Pierce allegedly got a loan of up to 28 million in vehicles in assets and did not pay it back and signed off on documents that he would be fully liable for it Nissan and Hyundai are basically claiming that pierce tried to hustle them out of cash so the big question is are Pierce’s lenders going to be lenient in chill even though they’ve been dealing with this problem with Antonio for over six years I think the Raiders owner Mark Davis is going to have to make a decision and decide is this going to be worth the distraction can Pierce still coach while paying off massive amounts of debt and it’s just so crazy for us Raiders fans because I really thought that this year was going to be one of the few drama-free years we’ve had in a long time yeah I know the quarterback situation isn’t great but there’s just been no noise and it’s been a chill offseason so far with no crazy crime headlines like you have with the Kansas City Chiefs but unfortunately us Raiders fans can never catch a break and hopefully for Pierce we find out more information that leads to him not being finan finally liable but as of right now it looks like the guy is in a screwed situation and his best hope is that his lenders believe that they will make more money longterm if they cut Pierce a break and renegotiate his debt terms subscribe to me Wi-Fi Wily for more videos like this peace out and I hope you have a good one

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