Dealership group owned by ex-NFL players turns over vehicles to Nissan finance arm

An ailing dealership group owned by two former NFL players and an auto industry veteran has entered into an agreement with Nissan Motor Acceptance Corp. to turn over 99 vehicles valued at nearly $2.9 million.

Airport Road Motors N and other related entities owned by auto industry veteran Michael Saporito and former NFL players Antonio Pierce and Jessie Armstead agreed to turn over the mostly new vehicles from the now-closed Hazleton Nissan store in Hazle Township, Pa., and a holding lot in New Jersey, according to court records filed Tuesday in Luzerne County, Pa.

Net proceeds from the sale, lease or auction of the vehicles will be applied to the amount that the dealership group owes Nissan's captive arm, according to court records.

Nissan Motor Acceptance sued the dealership group in August, alleging it sold hundreds of vehicles but failed to repay millions of dollars in floorplan loans on the vehicles as dictated in lending agreements.

The parties also last week entered into a similar agreement, a stipulated order for possession of vehicle collateral, involving two Michigan stores, All Pro Nissan of Macomb and All Pro Nissan of Dearborn, according to court records from Macomb County Circuit Court in suburban Detroit. Those two dealerships have closed.

Lawyers representing the dealership group didn't return messages about the latest court actions.

Nissan North America Inc. has terminated the franchise agreement for Hazleton Nissan, and a spokesperson said earlier this month that the automaker was working to identify candidates to fill the dealerships.

In August, Hyundai Capital America, the captive finance arm for the Hyundai and Kia brands, also sued the dealership group over similar allegations. The dealership group has denied both lawsuits' allegations.

Kia Motors America in early October terminated the Hazleton Kia franchise in Hazle Township, Pa., for failing to conduct normal business operations. While it's not clear whether Hyundai Motor America also terminated its franchise with the dealership group for Hazleton Hyundai, also in Hazle Township, the store is no longer listed on Hyundai's website.

The dealership group also owns a Honda store in Hazle Township, Pa., and a Honda dealership and Cadillac store in New Jersey, all of which remain open.