Copyright: 2018 VCG)
*During his prime, Allen Iverson was untouchable. Former MVP. four-time scoring champion. 11-time All-Star. All that on the court. Outside of that, his income swelled via his alliance with Reebok.
Overall, Iverson was a force, earning approximately $154 million during his time in the NBA. Not bad for someone who struggled growing up and found his path when his mother promoted his love of basketball as a way out.
Yet, drama has followed Iverson throughout his professional career and personal life. The fact that he had money did not shield him from chatter about his financial status.
To some, the sports icon was struggling and going broke. To Iverson, the talk is just that, talk.
He is not about to join former All-Stars who made millions during their NBA heyday, only to go bankrupt after retiring from overindulging in the perks of being on top.
Scroll to continue reading
“I don’t really care too much about what people who don’t care about me say about me,” the former Philadelphia 76’er told “CBS This Morning” in 2015 while promoting his Showtime sports documentary “Iverson.” “But a lot of times, you know, I get tired of defending myself. And I’ll be 40 years old next month, and I’m so sick of defending myself.”
Fortunately for Iverson, he doesn’t have to defend himself at all. Thanks to a smart deal made when he was the cornrowed, crossover dribble face of the league, being without finances is the least of his issues nowadays.
Chronically the financial ruin talks surrounding Iverson, Basketball Network traced it back to 2010, when he went international after the NBA and signed a $4 million deal with Besiktas. For a standout like Iverson to leave the U.S. to play overseas raised a lot of eyebrows. The annoying rumors were not welcome. And his bank account ordered seized by a judge in Georgia to settle a $375,000 debt with a jeweler didn’t help things either.
In 2001, Iverson signed a lifetime deal with Reebok. Under the deal, the former athlete is ensured a steady income, with a trust fund set to pay him $32 million when he turns 55. Although a highly publicized bowling alley brawl and the five year prison sentence made an NBA career unlikely, Iveson rebounded in a big way with clemency granted after four months served. And the rest is history.
“You hit roadblocks in life,” Iverson said. “But I’m living proof that you can overcome those roadblocks and become what you want to become.”
MORE NEWS ON EURWEB: Allen Iverson to Get $32 Million Reebok Payout at Age 55
Sign up for our FREE newsletter HERE.
