Between his constant pleas for another shot from NBA teams and his eventual stint playing basketball in Turkey, we all sort of knew that Allen Iverson probably wasn’t in the best of financial situations. Then when news came out that a judge had reportedly garnished Iverson’s bank account to pay his outstanding jewelry store debt, it mostly just reaffirmed everything we already believed.
But it wasn’t until a recent Forbes article that looked into how the former NBA MVP blew threw his $200+ million fortune that we really understood why Iverson has landed into such a (reportedly) unfortunate financial predicament.
From Larry Brown Sports:
Perhaps the telltale indicator of Iverson’s divorce from financial reality, however, was an anecdote I received via a former teammate of Iverson’s from his days with the Philadelphia 76ers. This player, raised on a far higher standard of fiduciary responsibility, was amused and stunned by “A.I.’s” money habits. He related how on many road trips Iverson refused to carry baggage, evidently seeking to remain as unencumbered from physical things as he was of basketball defenders. Because of this habit, Iverson would buy a full selection of new clothes, shoes, and other expensive items at each new destination with rolls of cash he carried on his person. Moreover, upon departure, he would leave all those goodies behind in his hotel room or just give them away.
It’s worth noting that Iverson has yet to come out and say that he’s in financial ruins. He could very well have ten trillion dollars in the bank and simply be letting the media needlessly spin its wheels regarding his supposedly bad money problems. Probably not, though. Chances are, if indoor soccer teams are offering him money for cheap publicity and thinking they have a realistic shot at landing the former NBA superstar, there is probably a legitimate reason for that.
And if that tale about Iverson constantly buying new clothes on road trips because he hated baggage is true, then it explains a whole lot about why everyone currently find themselves where they currently find themselves.