Allen Iverson Has No Answer For Financial Woes

[SkillspayBills]

This **** isn't funny. For a 3 year span AI was BAR NONE the best player on the planet. So sad to see him fall so far. Wish him all the best though, one of my favorites of all time.

[Gordon Gekko]

I've never seen an NBA player put forth the effort night in and night out this guy put in. When people say "leave it all out on the court", he did just that. Nothing but 120 percent every single game.

Some people are just bad with money. Doesn't matter how much money you make. Being rich is different than being wealthy.

[el malo]

This thread hurt my feelings(lol)because iverson is one of my all-time favorite ballers. im a georgetown fan and lived in the philly area thru the iverson era(but i've always been a bulls fan since 11 years old when they won their first title)

So in honor of "the answer" im bumping this thread.

From peter vecsey of the ny post:

Last month, when a Georgia judge seized the bank account of Allen Iverson in order to pay out a substantial debt for an unpaid jewelry bill amounting to $859,896.46, the mass media assumed it meant he was broke. Reports claimed he’d gutted $150 million in earnings over his 14-year career. From what I’m told, the number is more like $250 million. Let’s not forget A.I’s numerous endorsements, specifically Reebok. 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.

[el malo]

Too bad all the nba owners have agreed to keep a.i. out of the league, there's bums warming benches on all 32 teams.