He rushes.<\/p>\n
He tackles.<\/p>\n
He \u2026 forecloses?<\/p>\n
Ex-Denver Broncos linebacker Von Miller is doing just that on the new owner of his former mansion near the team\u2019s headquarters, public records show.<\/p>\n
The buyer, meanwhile, acknowledged to BusinessDen that he hasn\u2019t been making loan payments \u2014 but said that\u2019s because Miller didn\u2019t deliver the home in the agreed-upon condition.<\/p>\n
Miller played for the Broncos from 2011 to 2021 and is now with the Buffalo Bills. He sold his 19,000-square-foot home at 17819 E. Easter Ave. in Foxfield \u2014 a town between Aurora and Parker \u2014\u00a0for $3.7 million in late 2022, about six months after he put it on the market.<\/p>\n
Oluwole Jolaoso, who public records show put down $700,000, or nearly 20 percent, purchased the home. While most homebuyers get a mortgage from a bank or traditional lender, Jolaoso financed the purchase with a $3 million loan from Miller himself, according to Arapahoe County records.<\/p>\n
That gave Miller the power to foreclose if terms of the loan repayment plan weren\u2019t met. He initiated the foreclosure process this month, less than a year after the sale.<\/p>\n
The loan made in November 2022 came with a 7.5 percent annual interest rate, records show. Jolaoso was to pay $23,125 a month starting in December, and also make an additional $150,000 payment by June of this year, according to the terms.<\/p>\n
The loan terms indicate that Miller\u2019s loan was not intended to be a traditional long-term mortgage, but rather a bridge loan. The contract specified that \u201cborrower agrees to use his best efforts to secure alternative financing.\u201d In the case that didn\u2019t happen, the whole balance would be due on Dec. 1, 2023, the terms state.<\/p>\n
The foreclosure documents that Miller filed earlier this month list the amount owed as the original $3 million. A foreclosure auction is currently scheduled for Dec. 20. An attorney representing Miller in the proceedings didn\u2019t respond to requests for comment.<\/p>\n
Jolaoso, meanwhile, wishes he could just get a refund.<\/p>\n
\u201cTake the house back,\u201d he told BusinessDen. \u201cGive me my money back.\u201d<\/p>\n
In two phone calls on Wednesday, Jolaoso described his ownership of the Foxfield mansion as trouble from the start. He claimed Miller\u2019s representatives \u2014 \u201cI\u2019ve never had a contact with the guy,\u201d he said of Miller himself \u2014 failed to make multiple agreed-upon repairs and upgrades prior to closing, like installing a new refrigerator.<\/p>\n
The new fridge, and some other changes, were ultimately put in place weeks or months after closing, Jolaoso said. But one key thing hasn\u2019t been fixed. The home is a \u201csmart home,\u201d Jolaoso said, and the Crestron system that controls many components of it has been broken since before the sale.<\/p>\n
\u201cThere\u2019s no way that they should have sold the house to me in the condition it is,\u201d he said.<\/p>\n
Jolaoso, who said he\u2019s a businessman but declined to get into specifics, said he doesn\u2019t live in the home, and bought it planning to rent it to someone for $50,000 a month. But that person backed out \u2014 understandably, in Jolaoso\u2019s mind \u2014 given the home\u2019s many issues, he claimed.<\/p>\n
Through his representatives, Miller has agreed to pay hundreds of thousands of dollars to fix the system, Jolaoso said, but the needed part won\u2019t be available for months.<\/p>\n
Jolaoso said that\u2019s why he hasn\u2019t been paying what he described as interest-only payments of $24,000 a month. Miller\u2019s representatives agreed to waive the charge for some months, but more recently have been telling him to pay, he said.<\/p>\n
\u201cI said, there is no way I\u2019m going to be paying $24,000 interest-only on a house I cannot use,\u201d he said.<\/p>\n
The situation impacted his ability to secure alternative financing, Jolaoso said.<\/p>\n
Jolaoso said late Wednesday afternoon, after talking to an attorney, that he expected to make several months of payments to stop the foreclosure proceedings. Then, he said, he\u2019d likely head to court to try to recover that money and more, unless he\u2019s able to work out a deal with Miller.<\/p>\n
Jolaoso said he\u2019s a \u201cfan\u201d of Miller, but feels wronged by those working for the player.<\/p>\n
\u201cHe needs a whole new set of people,\u201d Jolaoso said.<\/p>\n