Dec 5, 2012, 7:25 PM EDT
We had this same discussion a couple years ago.
When Allen Iverson was playing in Turkey, a report came out of Philadelphia about how Iverson was just hemorrhaging money and was broke. Which is stunning for a guy who made an estimated $154 million in NBA salary alone. Other reports have echoed this.
That was followed by a counter report (out of New York) that Iverson was not that bad off because a wise financial advisor and friend had essentially put Iverson’s money in a trust that paid him a yearly allotment and he couldn’t touch the rest. I want to believe the latter report, but the truth likely is somewhere in the middle.
According to docs, Allen brings in $62,500 in monthly income, but his expenses are FAR, FAR, greater … costing him a cool $358,376.66 PER MONTH!!!!…
A large chunk — $125,749.33 to be exact — is spent paying off various creditors (like his jeweler) … and some goes to his mortgages (but not for long, since his ATL crib is about to be auctioned off).
But Allen says he blows a lot on OTHER expenses too … like $10,000/month on clothes, $10,000/month on grocery/house items, $1,000/month on dry cleaning, $5,000/month on entertainment, $5,000/month on restaurants … and so on.
Those figures need a disclaimer — be careful trusting the numbers lawyers use in a divorce case. Or any case. The goal here is for Iverson’s lawyers to make him as destitute as they can, therefore reducing what he has to pay his soon-to-be ex-wife.
My guess is Iverson is living way, way beyond his means anymore. I hope that a smart financial advisor did leave a safety net there for him.
In the end, who knows what is real. But this is the kind of controversy that has shadowed Iverson since he was in high school, it’s part of what has made him a polarizing figure. Which is a shame, because his game was so much fun.
Apr 28, 2015, 9:50 AM EDT
Kidd jumped up and down to make sure to get the timeout he wanted.
Apr 28, 2015, 9:10 AM EDT
The Lillard we remembered from last year’s playoffs was back.
Apr 28, 2015, 8:30 AM EDT
Can Austin Rivers have another strong game?
Apr 28, 2015, 8:00 AM EDT
Houston needs to make adjustments to the new Dallas starting lineup.
Apr 28, 2015, 2:13 AM EDT
Without Mike Conley to check him Damian Lillard ran free.
Apr 28, 2015, 1:14 AM EDT
D-Will tied his career playoff high with this.
Apr 27, 2015, 11:23 PM EDT
Michael Carter-Williams and Khris Middleton combined for 43 points.
Apr 27, 2015, 9:56 PM EDT
Series is now tied at 2-2.
Apr 27, 2015, 9:01 PM EDT
Washington’s averaged defender distance to the Toronto shooter was 3.55 feet, the closest defense any team played in the first round of the playoffs.
Apr 27, 2015, 7:58 PM EDT
The doctor will decide if microfracture is needed while doing a scope.
Apr 27, 2015, 7:17 PM EDT
The Cavs will be without two starters for the first two games of next round.
Apr 27, 2015, 6:59 PM EDT
Davis was +35 when playing while Green sat, -55 while Green was on the court at the same time.
Apr 27, 2015, 6:22 PM EDT
He would have been key against the Bulls to help space the floor.
Apr 27, 2015, 5:45 PM EDT
Olynyk finds common ground with Clevelanders
Apr 27, 2015, 4:59 PM EDT
Stats show Boston defended LeBron well, he just hit the shots anyway.
Apr 27, 2015, 4:15 PM EDT
I say Smith should get at least three games.
Apr 27, 2015, 3:44 PM EDT
They need the swelling to go down to get a sense of his return,
Apr 27, 2015, 3:07 PM EDT
Preview socks for the Cavaliers, Heat, Spurs and Warriors
Apr 27, 2015, 2:29 PM EDT
Cavaliers gave him a chance to wait by sweeping Celtics
Apr 27, 2015, 1:49 PM EDT
Rockets lost closeout game to Dallas
- PBT Extra: Who wins Game 5 between Spurs, Clippers? Flip a coin. 1
- PBT Extra: Rockets must adjust to new Mavericks starting lineup in Game 5 2
- Portland comes from 10 down in fourth quarter to win 99-92, stay alive in series 5
- Bucks stay alive behind big backcourt performance to force Game 6 vs. Bulls 20
- Incredible 35-point performance from Deron Williams leads Nets to overtime Game 4 win over Hawks 11
- PBT Extra with NBASavant.com: Wizard’s defense peaking at right time 2
- Report: Chandler Parsons to have knee surgery, could require microfracture surgery 6
- Cavaliers’ J.R. Smith gets two-game suspension for shot to Jae Crowder’s head 42