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Son Of Deion Sanders Files For Bankruptcy To Protect Assets Against Lawsuit: 5 Things To Know

Son Of Deion Sanders Files For Bankruptcy To Protect Assets Against Lawsuit: 5 Things To Know

Sanders

Shilo Sanders photo via Instagram/ Former Jackson State head football coach Deion Sanders, Sept. 5, 2021, in Miami Gardens. (AP/Jim Rassol)

Shilo Sanders, a defensive back for the University of Colorado Boulder’s Colorado Buffaloes football program and the son of legendary head coach Deion Sanders, has filed for Chapter 7 bankruptcy in an effort to manage an $11.3 million debt from a civil judgment in Texas. This significant debt stems from a 2015 incident when Sanders, then just 15, allegedly assaulted high school security guard John Darjean. The resulting lawsuit led to a 2022 judgment in favor of Darjean. Now, through bankruptcy, Sanders aims to discharge this debt and protect his assets.

Here are five things to know.

1. Shilo Sanders Files For Bankruptcy

Sanders filed for Chapter 7 bankruptcy in October 2023. According to his attorney, Sanders has complied to requirements in the bankruptcy filing. 

“(Sanders) has taken no action to hide, transfer, destroy, or mutilate assets, either on a pre- or post-Petition Date basis, and even went so far as to voluntarily turnover over $210,000 to the (bankruptcy) Trustee without waiting for further order of the Bankruptcy Court, or even a stipulation for turnover.” Sanders’ attorney said in a court filing obtained by USA Today

2. What Led To SandersLegal Trouble

In 2015, Sanders, then 15, allegedly assaulted Darjean after being asked to hand over his cellphone. The lawsuit claims Sanders caused severe injuries to Darjean, including a broken neck and permanent neurological damage. Sanders’ parents were initially part of the lawsuit but were later dropped. Sanders’ attorneys withdrew from the case in 2020 due to his inability to fund his defense, leading to a default judgment in favor of Darjean in 2022, CBS Sports reported.

3. Missed Trial And Default Judgment

Due to outdated address information, Sanders said he did not receive the trial notice and did not appear in court. As a result, the court ruled in Darjean’s favor, ordering Sanders to pay $11.89 million. Sanders only learned of the default judgment in 2023.

4. Financial Disclosures And Allegations

In his bankruptcy filing, Sanders disclosed $320,000 in assets, including a 2023 Mercedes GLE valued at $75,900. His income from name, image, and likeness (NIL) deals was reported at $193,713 for 2023, down from $216,950 in 2022. Darjean’s lawyers allege Sanders did not fully disclose his assets, claiming he transferred funds to his LLCs. Sanders’ lawyers deny these allegations, stating his NIL agreements were transparent, The New York Times reported.

5. What’s Next In Shilo Sanders Legal Saga

Sanders’ bankruptcy filing has put a temporary halt on debt payments until a final decision by the bankruptcy court. Sanders’ motion for summary judgment, if granted, could prevent Darjean from collecting the Texas judgment.

Shilo Sanders photo via Instagram/ Former Jackson State head football coach Deion Sanders, Sept. 5, 2021, in Miami Gardens. (AP/Jim Rassol)