Deion Sanders speaks to son Shilo's Mercedes question: “The bull market comes out”
Colorado football coach Deion Sanders handled the bankruptcy case of his son Shilo on Friday and said the financial problems involving Shilo's car were due to “payment interruptions” after his online account was terminated.
Mercedes-Benz Financial Services filed a motion in court Tuesday that NFL draft prospect Shilo defaulted on car payments for the Mercedes car he agreed to buy in May 2023, with a monthly payment plan. The company said he has paid $6,877 and has not paid his monthly installment from December to February.
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As a result, the company asked the bankruptcy court to approve the license for the car in Shilo's bankruptcy proceedings.
Deion Sanders raised the question at a press conference Friday during a career day exercise in Boulder, Colorado.
“I know some other Bulljunks have appeared, but he fulfilled all financial obligations,” Deion Sanders said. “These issues seem to have risen due to interruptions in the payment process – which is from his lawyer – the attorney 'after the termination of access to Mr. Sanders' online account. So he's fine.”
Why is this a problem?
Mercedes-Benz Financial Services regards such a “payment interruption” as a default on payments, which means he stops paying the owed. As a result, the company moved back to the car because Colorado Safety Shilo still owes $135,000 for the 2023 car and currently owes $97,239 for a selling price of $97,000, with a transaction value of $97,000.
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Shilo's bankruptcy filing in October 2023 triggered an automatic stay or debt collection work on him. But Mercedes-Benz Financial Services believes that in this case, it should be entitled to be freed from such accommodation.
“The value of the motor vehicle is depreciated, contracts are by default, and the action of automatic stay (Mercedes-Benz Financial Services) is blocking it from taking measures to recover and liquidate its collateral,” the court application for Mercedes-Benz Financial Services and its prosecutor Doug Koktavy.
Shilo filed for Chapter 7 bankruptcy after falling into debt of more than $11 million – nearly everyone who owed him John Darjean was his former security guard at Dallas schools. It is not clear whether any refund payments will change the status of Mercedes-Benz Financial Services. The company's attorney did not immediately return the message.
Why does Shilo Sanders owe this money?
This stems from the 2015 incident at Shilo at 15, Darjean attempted to seize his phone at school. Dagen accused Hilo of reaching out and slamming him, causing serious and permanent damage.
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Hilo said it was self-defense. But Dargian sued Hilo for compensation. When the case was finally tried in Dallas in 2022, Shilo did not appear for this. The judge then issued a $11.89 million breach of contract judgment on Shilo after hearing the evidence from the trial.
After Darjean tried to collect the judgment owed to him, Shilo filed for bankruptcy to stop the efforts to collect debts and try to release the debt so he could get a “new start.”
Darjean struggled with it in court because he wanted to collect every penny he owed. If Darjean succeeds, debt may follow Shilo into his NFL career. If Shilo succeeds in court, the debt will disappear, causing relatively little damage to his finances.
The “different standards” of the Sanders family
Shilo, 25, was Colorado’s leading tackle in 2023 and third in 2024 despite three games of damage to the forearm. On Friday, he ran a 40-yard dash in 4.52 seconds, a good time for safety prospects.
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“I love his identity on the court and on the wild,” Deion Sanders said of Shilo. “He is a great young man.”
His father also spoke widely on Friday about how his family adhered to “another standard.” His youngest son Shedeur is the quarterback prospect for the NFL draft in April.
“My standards are different, but I don't care,” said Deion Sanders. “We're changing the game here, so you're going to keep different standards. I love it. When we walk into the city, all the kids who work for CU meet different standards. And what you (the news outlet) report to us, your standards are different standards. So, we're cool. We haven't changed anything about that.” There's nothing about it. ””
Follow reporter Brent Schrotenboer @schrotenboer. Email: bschrotenb@usatoday.com
This article originally appeared in USA Today: Colorado Coach Deion Sanders
