The company then released the Reebok Question, which the guard wore en route to winning rookie of the year honors for the season. It’s been reported that when he can access it, he’ll only get half as part of a divorce settlement with his ex-wife Tawanna. The company sent Iverson to Asia last year, and O’Toole said allen iverson still makes money sending him overseas next month. Get Sixers news and analysis in your inbox all season long. You bring Allen Iverson into a market like. I’ll stand firmly that he has a big place in basketball and sports history. But Iverson abruptly backed out right before he was set to play he coached instead and was booed while standing courtside. Skip to content. Allen Iverson played for the Sixers untilwhen he was traded to the Nuggets.
Motley Fool Returns
Allen Iverson built a career off flashy crossovers and his underdog mentality. Along the way, Iverson never picked up a championship, but he made nearly million dollars through contracts and endorsements as his image began to cement. However, as Father Time caught up to him, the contracts became shorter and smaller. Nonetheless, Iverson spent his money carelessly. He used it to purchase gifts for his friends and family and also fell into bad habits. He reportedly kept money in garbage bags around his mansion, some of which went missing. At one point, he bought a new car because he forgot where he parked the old one at the airport. Once the flashiest player in the league, Allen Iverson had become synonymous with wasted potential and high hopes that were not realized. He became a broke baller in the eyes of many. Although Iverson does not bring in the massive amounts of money he used to, he is far from poor. The structure of the deal prevented Allen Iverson from diving into the account and spending even more money. Connect with us. Mini-Editorials How Allen Iverson avoided going completely broke.
We all know how easy it is for an NBA player to run out of money pretty quickly after retirement. Players like Kobe Bryant are renowned for their smart decisions when it comes to saving, whereas others like Allen Iverson…less so. He allegedly traveled with an entourage of as many as 50 people at times. He showered friends and family, especially his mother, with cars, jewelry, houses and expensive vacations. This is sometimes done in an effort to settle debts and start a clean financial sleight. Some would occasionally go missing. At one point in his career he arrived back at an airport and had forgotten where he parked his car so apparently ditched the car and bought a new one. The breakdown was as follows:. That is some sort of supernatural gift he has. In , Iverson made a decision that would inevitably save him from his future self. He signed a very unique endorsement deal with Reebok. As a result of the divorce, Allen will inherit half the trust fund in Recommended for you. Older Posts.
How Allen Iverson LOST His 32 Million Dollar Reebok Trust Fund?!?!
The former NBA All-Star serves as prime example of the importance of smart money management, regardless of your account balance.
Unfortunately, an athlete going broke in retirement is becoming a fairly common story, but Iverson’s fall from grace is turning out to be especially shocking and sad. Fast forward just a few years and Allen has at various times been essentially bankrupt, with over a million dollars worth of debt. On the other hand, there is a bright. The problem is, he can’t touch it untilwhen he is 55 years old. Today, June 7,is Allen’s 44th birthday. That means this exact day in 11 years will be a very very good day for Mr. After feuding with the 76ers management during the season, Iverson ivegson the final five years of his career bouncing around the league putting up seasons that were mostly memorable for his lackluster performance and more feuds. Allen attempted to put together a comeback oversees by playing for allen iverson still makes money team in Turkey and another in China. Neither experience was a success. Throughout his career Iverson’s wasteful spending was legendary. He frequently traveled with an entourage of up to 50 people. He showered these same people with luxurious jewelry, expensive cars and exotic vacations. He was also a bad monet in both senses of the word. Iverson was known to drop over a million dollars gambling in a single evening in Las Stil, and Atlantic City. Allen’s financial problems came to light after his wife of eight years Tawanna filed for divorce and demanded custody and full support for their five children. This is where things get a bit tricky. Furthermore, we heard stories about Allen’s continuing struggle with alcohol and his inability to maintain a job. But despite all the bad news, we also learned that Allen is actually still a very rich man with millions upon millions of dollars in the bank. There’s just one small catch — He can’t touch any of it for 11 years.