*Allen Iverson’s time as a bad husband is coming back to bite him in a major way.
According to Complex, the former NBA great stands to not receive the entire amount of his $32 Million Reebok Trust.
The trust, which was created when Iverson first signed with Reebok, is set up for him to receive about $32 million when he turns 55. Since the creation of the trust, the athlete’s marriage to his wife Tawanna came to an end with questionable financial decisions made during the couple’s divorce proceedings.
In his recent book, “Not a Game: The Incredible Rise and Unthinkable Fall of Allen Iverson,” Kent Babb claims that Iverson was so desperate to get Tawanna back that he signed a postnuptial agreement. In the agreement, it was stated that Iverson would lose the entire Reebok trust is he violated numerous terms that included the following:
Cannot cheat or have children outside of marriage.
No physical or verbal abuse.
Must attend marriage counseling.
Must speak to therapist about drinking and gambling problems.
Can never gamble again.
Must be home by midnight.
Must discuss any purchases over $5K.
Babb goes on to claim that Iverson didn’t honor at least one of the items in the agreement. As a result, Tawanna took the entire trust with her while going ahead with the divorce, which was finalized in 2013. Complex reports that although she got the entire trust fund, Tawanna reportedly ended up splitting the trust in half as she gave Iverson half of the trust while she took the other half for herself.
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