Allen Iverson’s poor financial standing has been the subject of many headlines over the last few years. Despite earning more than $150 million over his 14 NBA seasons, the former league MVP has reportedly burned through his savings at a record pace.
How exactly does one burn through at least $150 million, not counting endorsements? Well, according to TMZ, court documents (from his divorce) indicate that Iverson claimed $62,500 in monthly income – while also racking up more than $358,000 in monthly expenses. That sort of disparity doesn’t exactly lend itself to financial wellbeing.
Two years ago, Iverson agreed to play in Turkey on a two-year, $4 million contract. He consistently denied that money was the motivation for that but, you know, the situation kind of speaks for itself.
On the bright side: all may not be lost for Iverson. You will recall, last March a report surfaced indicating that someone had put aside $32 million for the future Hall of Famer. The account housing that money purportedly pays him a million per year, but doesn’t permit him to withdraw any money until he reaches the age of 55.
The existence of this account has never actually been confirmed or denied – but why would someone lie about that? It certainly sounds feasible enough.
Of course, seeing as he is only 37, Iverson still has some ways to go before he can get to that pot of gold.