Mar 2, 2012, 1:11 PM EDT
Someone in Allen Iverson’s inner circle was a true friend to the man.
We reported recently on a judge ordering Iverson to pay more than $850,000 to a jewelry store for goods received, and the judge needing to go into his bank account and get what they could.
If that happened to you or me, it’s a sign that we’re broke. There have been a lot of reports Iverson is busted. That is why he is willing to play in Puerto Rico or the D-League.
But like I said above — and as Peter Vecsey laid out in detail in the New York Post — someone in Iverson’s inner circle was a true friend. Someone recognized if just given the money he would burn through it, so…
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.
The $32 million is known as the “Reebok fund” among Iverson’s friends, because the money came from shoe deals.
Now, living with in those means may be a challenge for Iverson. But someone had the foresight to protect the man from himself, and that is going to save him. That is what a true friend does.
May 26, 2015, 10:56 AM EDT
Is Chicago really that petty?
May 26, 2015, 10:20 AM EDT
May 26, 2015, 9:42 AM EDT
Not the most reliable report. Not the least reliable report.
May 26, 2015, 9:07 AM EDT
Referee falls during Rockets-Warriors
May 26, 2015, 8:30 AM EDT
That’s three out of four games this series Harden has been fantastic.
May 26, 2015, 8:00 AM EDT
Based on that Al Horford precedent, Dwight Howard should have gotten a Flagrant 2 and ejected.
May 26, 2015, 2:29 AM EDT
In the four Rockets’ elimination games this season, Smith has 63 points on 22-of-34 shooting (64.7 percent).
May 25, 2015, 11:59 PM EDT
MVP runner-up shines while MVP misses substantial portion of Houston’s Game 4 win
May 25, 2015, 10:45 PM EDT
He was not ejected.
May 25, 2015, 10:30 PM EDT
It’s a sign Thomas may be around for a little bit.
May 25, 2015, 10:21 PM EDT
It didn’t count.
May 25, 2015, 9:59 PM EDT
Scary moment in Houston.
May 25, 2015, 9:00 PM EDT
What do they know?
May 25, 2015, 7:30 PM EDT
The league had been exploring moving Game 1 up to June 2.
May 25, 2015, 6:00 PM EDT
Horford was ejected from Game 3.
May 25, 2015, 4:30 PM EDT
Cavaliers star says he will research case further before saying more
May 25, 2015, 2:59 PM EDT
Doc Rivers decided to offer his mid-level exception money last summer to Spencer Hawes instead of Pierce. He’d like that one over.
May 25, 2015, 2:00 PM EDT
Expect a resilient Rockets team on Monday night.
May 25, 2015, 12:30 PM EDT
Cavaliers center shakes it off
May 25, 2015, 11:00 AM EDT
It probably won’t happen, but…
- Elimination game Josh Smith is a thing, Rockets live to play another day 5
- Rockets show it’s better to have James Harden than to not have Stephen Curry 5
- Stephen Curry leaves game after taking a hard fall, cleared to return (VIDEO) 9
- Rumor: Paul Pierce might opt out of contract with Wizards, join Clippers 18
- Golden State Warriors vs. Houston Rockets Game 4: Three things to watch from Houston 9
- LeBron James posts triple-double, Al Horford ejected as Cavaliers take 3-0 series lead with OT Game 3 win over Hawks 30
- Kyrie Irving out for Game 3 for Cavaliers with knee tendonitis 3
- Lil B says James Harden is officially under the Based God’s curse 31