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Another report Allen Iverson is broke

Feb 14, 2012, 1:07 PM EDT

Allen Iverson

When Allen Iverson was playing in Turkey last season, there was a report that he did it for the $2 million because he was broke. That he had burned through the $154 million in salary he earned as a player (not counting endorsements). Iverson denied that charge saying he would be a “damn fool” to blow through all that money and not be able to take care of his children.

But now comes another report about Iverson and money issues. PBT passed along the note last month that a jeweler had won an $860,000 settlement against Iverson for non-payment.

Bill Lyon at the Philadelphia Inquirer adds to that with this note:

A Georgia judge has ordered Allen Ezail Iverson to pay a jeweler about $860,000. But apparently he can’t, so his bank account has been commandeered, and his earnings, whatever of them may be left, are to be garnisheed. The King of Bling, it would seem, is about to become the Prince of Pawn.

Certainly in the next 24 hours or so, Iverson will deny this report as well. And frankly, I don’t know who to believe as I don’t have access to Iverson’s personal financial records (although you would think the judge in this case would, and the circumstantial evidence is piling up against AI, like him thinking of playing in Puerto Rico).

Either way, it’s a sad ending that should not mar what was one of the most legendary and unique careers the NBA has ever seen. There has never been a scorer under 6’2” as good — or entertaining — as Iverson.

  1. 808raiderinparadise - Feb 14, 2012 at 1:42 PM

    Broke? We talking bout being broke? Not the millions I made, but broke? Man, we talking bout broke!

    • Very Real News - Feb 14, 2012 at 3:20 PM

      LOL

  2. limonadamas - Feb 14, 2012 at 2:06 PM

    This is why athletes who support posses are fools. Anyone who REALLY cares about you won’t be leeching off of you and sucking you dry when the opportunity arises.

    I feel sorry for Allen (and guys like ‘Toine)… They have a misplaced sense of duty to their ‘hoods. If you want to really help out your old friends, help your old community create legitimate jobs. Build things from the ground up. No handouts.

    As an aside, where is Iverson’s agent in all of this? Aren’t agents supposed to help with financial planning?

  3. raven410 - Feb 14, 2012 at 2:11 PM

    SMH…WOW

  4. cured76 - Feb 14, 2012 at 2:11 PM

    If you have an outstanding bill of $860,000 worth of jewelry, after your NBA days are done, I’m pretty sure that qualifies you as a “damn fool”

  5. southbeachtalent - Feb 14, 2012 at 2:22 PM

    easy come easy go.

  6. thecrazyasianinseccountry - Feb 14, 2012 at 2:37 PM

    I am by no way a fan of AI when I say this,…
    Am I in the minority when I say I get no pleasure at all from other people’s failure?
    I don’t wish this on my worst enemy, because this is probably the only life style his children has ever known.
    I tell my kids, nieces, and nephews all the time how fortunate they are, because when we were growing up we had nothing… Even then I know they don’t truly appreciate what my brothers and I went through to get where we are. As a parent we want to shield our children as much as possible, and Iverson is no different from me. He wants to give his children the very best, everything he never had, and keep them from experiencing the things he had experienced growing up.
    As a father, my heart goes out to his family and hope this is just rumors, but then, I’m also a realist.

  7. jimbroney - Feb 14, 2012 at 2:45 PM

    Yeah, but dem rims be spinnin’!!

    • 00maltliquor - Feb 14, 2012 at 3:05 PM

      Yeah, but know dem ”24 rims be ”18′s…but I’m sure he keeps ‘em clean though!

      • mytthor - Feb 15, 2012 at 12:30 AM

        Additional generic racist comment!

  8. florida727 - Feb 14, 2012 at 2:51 PM

    When Iverson came out of Georgetown, I couldn’t stand him. I thought he was nothing but a street punk who happened to be good at bouncing a basketball when he wasn’t being photographed for a police blotter. Over time, he became my favorite player to watch (goes to show what a jerk I was for judging him without knowing him). What he put his body through night-in-and-night-out in the NBA just amazed me. I hope he was smart enough to put away something for his retirement. For all the entertainment he provided, he deserves to live well once he stops playing.

    • bigtganks - Feb 14, 2012 at 3:01 PM

      “For all the entertainment he provided, he deserves to live well once he stops playing.”

      Because $150-$200 MILLION isn’t enough to be paid to live well. He deserved it and got it… then wasted it all.

      • skids003 - Feb 14, 2012 at 3:20 PM

        It’s hard to feel sorry for someone who squandered that kind of money in just a few years. I don’t.

  9. ravenscaps48 - Feb 14, 2012 at 2:53 PM

    And the Wizards suck… Let’s all state the obvious here at PBT.com

  10. redbullenergydrink - Feb 14, 2012 at 2:53 PM

    Wealth is not always determined by how you make, but more often by how much you use… as AI just found out.

  11. bigtganks - Feb 14, 2012 at 2:58 PM

    “I don’t know any franchise playah that… broke as a joke.
    I don’t know any olympian that… broke as a joke
    I don’t know any all-star that… broke as a joke
    I don’t know any former MVP that… broke as a joke
    I don’t know any 3-time scoring champion that… broke as a joke
    I don’t know any first-team all-NBA that… broke as a joke

    Why Allen Iverson?”

  12. chetboyle - Feb 14, 2012 at 3:04 PM

    A fool and his money are soon parted.

  13. sasquash20 - Feb 14, 2012 at 3:20 PM

    I heard a story once that he sold a house to Matt Geiger. Geiger said there was piles of money all over the house. Like AI was gambling and just left money all over the place. I loved AI because he was a sub 6 foot 165 pound warrior on the court. But his careless ways both on and off the court seemed to have caught up to him.

  14. franchiseplaya - Feb 14, 2012 at 3:37 PM

    I read that Iverson signed a lifetime contract w/ Reebok that still pays him 5 mil a yr. Not sure if this is accurate or true but if so, I’m sure he’s not doing that badly.

  15. tampajoey - Feb 14, 2012 at 4:10 PM

    I’m sure Iverson’s family and entourage that’s sucked on his wallet for the past 14 years will support and take care of him now that he’s broke.

  16. kaf39 - Feb 14, 2012 at 4:15 PM

    wow thats a shame

  17. AlohaMrHand - Feb 14, 2012 at 4:26 PM

    You aren’t as broke as I am!

    Signed T.O

  18. andyreidisfat - Feb 14, 2012 at 4:31 PM

    Still the most fun player I have ever seen. Best scorer I have ever seen. Toughest man on earth IMO. Total solider on the court. Also huge moron off it. Just another example of not letting go of the hood life

  19. seanb20124 - Feb 14, 2012 at 4:58 PM

    Reebok contract was probably only lifetime as long as he was still marketable.

  20. chiadam - Feb 14, 2012 at 5:54 PM

    Iverson once sold a house to a teammate (Matt Geiger), moved out, and left behind a new Rover, about 100 pairs of Tims and tens of thousands in cash. It does indeed take a damn fool to plow through all his money, and a damn fool looks out at Iverson from the bathroom mirror each morning. And on a quick note, does any athlete ever actually pay for their silly bling up front? Why are athletes always being sued for things they should have already paid for? Look here..if you have to finance something that you don’t live in, you either can’t afford it or don’t need it.

  21. kfiz14 - Feb 14, 2012 at 6:12 PM

    Mondays will be Mondays.

  22. goforthanddie - Feb 14, 2012 at 6:19 PM

    Why should anyone have one drop of pity for idiots who earn 9 figures (not counting endorsements, as pointed out), and don’t provide for their/their families’ future? He cared more about his shoes and his jewelry than his 5 children, why should any sane human give a damn about him?

  23. antmings - Feb 14, 2012 at 6:37 PM

    this is wut I hate bout so called sports stories…this is not news….I cud care less about AI being broke…I wud prefer to read about how horrible the redskins are…or how old the celtics are…smh..

    • cinnalocks - Feb 14, 2012 at 8:50 PM

      You know the women have to have their gossip. All the wannabes who never were and hating that someone else was and spent all the money they should have had. Queens of Blah blah!

      • goforthanddie - Feb 14, 2012 at 10:24 PM

        Yeah, you’re cool.

  24. granadafan - Feb 14, 2012 at 6:47 PM

    Yeah, but his entourages, hangers on, baby mamas, agents, financial “advisors”, and posses sure got theirs! I’m suuuuuuuuure they’ll help him out now that he’s broke, right?

  25. losangelasbasketball - Feb 14, 2012 at 10:01 PM

    Damn… Rags to riches back to rags again…

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