Friday, March 2nd, 2012 at 12:36 pm  |  64 responses

Allen Iverson Isn’t Actually ‘Broke’


When a Georgia judge took control of Allen Iverson’s bank account to repay a jeweler, fans and pundits speculated The Answer was broke. Well, that’s not really the case. From the NY Post: “However, hold the bankruptcy proceedings. He is far from insolvent, at least in the real world, if not in harmony with his ‘nothing in moderation’ lifestyle. Someone who cared a great deal for Iverson and grasped the extent of his habits, loyalties and generosity protected him to some degree from financial ruination, at 36, at any rate. A person with a firm grip on the situation informs me Iverson has an account worth $32 million, a principal he is prohibited from touching until 55. In the meantime, it feeds him $1 million annually. At 45, Iverson is eligible to start drawing on an NBA pension that maxes out at 10 years of active duty, or take whatever’s there as lump sum. He will be entitled roughly to $8,000 per month ($800 per x 10). If at all possible, Iverson will issue a restraining order against himself until he’s 62 or so. At that time, I’m told, his lump sum will be between $1.5 million and $1.8 million, or he can elect to take monthly checks of approximately $14,000 per. Busted or ‘in the chips,’ it’s distressing we’re driven to dissect Iverson’s fiscal fitness and downright depressing we’re discussing his career in the past tense. Was Iverson really that bad an hombre for the whole NBA to turn its back on such a crowd-pleasing talent? I can name 10 teams without exhaling that would be better off with Iverson starting or subbing. What’s more, their fan bases would get a whole more entertainment bang for their misspent buck.”

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  • IAMORANGE4EVER

    What the hell…SMH

  • anynomous

    @dreamsports whoa, that`s a lot to digest but I hear you loud and clear on most of your points – Iverson`s shot attempts/touches had a sudden and major drop off after leaving denver.

  • http://slamonline.com Ugh

    “He gets 1 million annually.. That’s not broke. ”
    Top summary of the article from Lp there. Excellent work.

  • http://www.slamonline.com Pardeep

    Co-Sign Dreamsports70: I saw your video, i been saying this stuff for 3 years. AI got black balllled.

  • Sean B

    HAHAHA… fell thru the cracks, as if A.I is “Jeremy Lin” or some other unknown. Do you clowns want to know why A.I won’t get another look in the league? Because he has quit on the last 3 teams he played for. He didn’t do squat in Detroit, went to Memphis for a fresh start and scoffed at coming off the bench like that was beneath a player of his caliber. Then… when he got the “homecoming” that everyone wanted, he quit after like 2 months to allegedly take care of his daughter. Then a week later he’s out at strip clubs with Jermaine Dupri. Face it, the NBA would deal with A.I’s bs when he at least was bringing the goods on the court. Now that he cannot even do that, he is useless. Maybe he should go to the D-League if he really wants to prove himself.

  • Mo

    Sean B, it sounds like Iverson lit up your favorite team for 14 years.

  • Dingo Rob

    AI doesn’t want to come off the bench, there might be 10 teams that could use him I can’t think of 1 that would start him.

    Also with the financial set up I’d imagine there are lots of benefits to this set up apart from going broke – tax and payouts from getting sued or divorced. KG’s got a good financial advisor.

  • sock-it-to-me

    @mo sounds like seanb has a case of PMS. It`s amazing how gullible ppl can be when it comes to a person in which they already have a built-in bias against. This article is in response to multiple false reports that were released in the past couple of weeks concerning AI`s financial status based on a minor court ruling and AI detesters ate it up despite the lack of CREDIBILITY across the board. Now 2 years later the rumor mill is still going strong, as a 2-year-old story about AI allegedly showing up at a strip club is still further angering detesters in 2012(bringing back old memories). To most of these AI detesters, it wouldn`t matter if I was to tell them that the lone source supporting the story came from a random tweet from some anonymous person, because these simpletons are set in their prejudicial ways. Start using the “right side” of your brain wisely.

  • http://www.nfl.com/news/story/09000d5d8276a22f/article/moss-looked-like-the-old-randy-during-workout-with-saints?module=HP11_headline_stack nfl32

    The ever declining corporation that is the nba should take a page out the NFL`s book and offer Allen Iverson a contract for the final 20-something games of this season and a training camp invitation or contract extension (if he earns it in those final 20+ games) for next season. Thankfully the NFL is not as high-brow as the nba heads giving them the ability to make the best decisions for the game and its fans. Thankfully the NFL is welcoming to all talented, worthy athletes regardless of their age and past missteps. Thankfully the NFL is willing to give athletes 1, 2, and 3 years removed from the game opportunities to showcase their skills, thrill the fans once again, and renew/revitalize/continue their careers. The most recent case is Randy Moss, who was given the opportunity to workout and prove himself at the New Orleans Saints facility. Some other recent cases include: Michael Vick, Plaxico Burress, and Pacman Jones. Iverson certainly deserves the OPPORTUNITY to showcase his skills and thrill the fans once again. And as fans of the game, Allen Iverson, and OPPORTUNITY we have the right to call upon his return because he is deeply missed, the game has not been the same without him, and we represent the consumers who have spent years of our or our parents` hard earned money purchasing tickets and league passes which helps finance this corporation. Bring Allen Iverson back to the nba.

  • Biggie

    1 Million Anually? lol that’s not broke at all

  • dmac32

    How is Jerry Stackhouse, Grant Hill, Tracy McGrady, Derek Fisher, Erik Dampier and others even on a roster and Allen iverson isn’t even being considered beats the hell out of me!

  • markymark

    bring back bubba! and f__k stern.

  • anonymous

    When I was browsing youtube, I came across THIS post from a youtuber by the name of bbc310: We (All us Allen Iverson fans) are starting an Internet protest/demonstration “in support of AI returning to the nba.” We have a few ppl already committed but we can always use more. We`re using youtube, facebook, twitter and any other social networks to spread the word – posting videos, photos, and personal testimonials of what Iverson means to the game and to the fans. We hope to find other ppl here on ytube and other sites that are willing to participate. #For the cause – AI3

  • http://www.facebook.com/profile.php?id=100003623050884 beasting

    With only abt a month left in this condensed season AI`s chances of returning is improbable (I`m sure Iverson knows that too) but AI should be playing somewhere next season preferably in the east conf. Playing in one or two proam games/competive games in the offseason would probably help his case. But real bball fans have not forgotten abt Allen Iverson and want him to see him back in the L. Check out the link. United as One to #SaveAllenIverson

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