Allen Iverson, a former NBA star from the United States, is worth $1 million. It’s widely accepted that Allen is one of the finest basketball players ever to have played the game. Overspending, a divorce, and other life changes have taken a toll on Allen’s fortune, despite his career earnings of more than $200 million in salary and endorsements. Allen’s financial woes, legal woes, and the famed Reebok trust fund are all covered in the following paragraphs.
|Net Worth:||$1 Million|
|Date of Birth:||Jun 7, 1975 (47 years old)|
|Height:||6 ft (1.83 m)|
|Profession:||Basketball player, Rapper, Athlete|
|Nationality:||United States of America|
Hampton, Virginia native Allen Ezail Iverson was born on June 7, 1975, making him the youngest of three children.
Allen Broughton, his father, had deserted his mother. he went to Hampton, Virginia’s Bethel High School for his secondary education
He completed his high school education at Richard Milburn High School, a school for at-risk children while serving a prison sentence for the 1993 bowling riots.
He was picked by the Philadelphia 76ers in 1996 after attending Georgetown University for a short time. It wasn’t long before he became one of the best point guards of all time and an 11-time NBA All-Star. On and off the court, Iverson was a divisive figure.
Georgetown University head coach John Thompson initially scouted him from a Virginia prison cell. For his part in a bar brawl, Iverson feared a hefty jail sentence. With the agreement that Iverson would attend Georgetown, play basketball, and graduate, Thompson convinced a court to release Allen into his care.
In spite of Thompson’s desires, Iverson left Georgetown early and went on to become an NBA all-star point guard. With the 76ers in 1999, Iverson made his first appearance in the playoffs. Before falling to the Indian Pacers in the second round, he started all 10 of his team’s playoff games as the starter.
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Allen signed a six-year, $70 million contract deal prior to the start of the following season. However, the 76ers attempted to move Iverson in the 2000 summer following his repeated disagreements with coach Larry Brown, but the transaction failed. During the 2001 season, Iverson was the driving force behind the team’s success. During that same season, he was also selected MVP.
Before moving to the Denver Nuggets for two seasons, Allen spent ten years with the organization. In the meanwhile, he played for the Detroit Pistons and Memphis Grizzlies before re-joining the Philadelphia 76ers for a season.
Late in his career, Iverson was generally ignored by American NBA clubs and had to play for Turkish Basketball League and Eurocup teams. In 2013, he ended his basketball career.
For most of his NBA career between 1998 and 2005, he topped the scoring charts four times, and he owns the second-highest per-game average after Michael Jordan.
Allen Iverson Career Earnings and Salary
- 1996-97 Philadelphia 76ers $2.2 million
- 1997-98 Philadelphia 76ers $3.1 million
- 1998-99 Philadelphia 76ers $3.5 million
- 1999-00 Philadelphia 76ers $9 million
- 2000-01 Philadelphia 76ers $10.1 million
- 2001-02 Philadelphia 76ers $11.25 million
- 2002-03 Philadelphia 76ers $12.3 million
- 2003-04 Philadelphia 76ers $13.5 million
- 2004-05 Philadelphia 76ers $14.6 million
- 2005-06 Philadelphia 76ers $16.4 million
- 2006-07 Denver Nuggets NBA $17.1 million
- 2007-08 Denver Nuggets NBA $19 million
- 2008-09 Detroit Pistons NBA $20.8 million
- 2009-10 Philadelphia 76ers $1.029 million
- 2009-10 Memphis Grizzlies $161 thousand
Total Career Earnings: $155 million
Footballer’s Career with the National Team
During the 1995 World University Games, Iverson was a member of the USA team. Ray Allen and Tim Duncan were also on the squad. He was the top scorer, stealer, and assist producer for the USA squad.
To win gold, he guided the squad to an unblemished record against Japan, which was their host nation. Team USA’s 2003 Olympic qualifying competition in Puerto Rico picked him to play in the FIBA Americas tournament. They came out on top with a perfect 10-0 record, earning the gold medal.
The group earned a spot on Team USA’s Olympic roster for 2004. Allen appeared in all eight of the team’s games, starting seven of them. The United States beat Canada 111-71 on August 25 to qualify for the Olympics.
As a whole, Allen finished the tournament in a tie for tenth place, with fourth-place finishes in points, steals, assists, and field goal %. Due to a sprained thumb, Iverson was unable to play in the USA’s last two games. April 29, 2003, was the date he was appointed to the United States Senior National Team for the year 2003.
Is Allen Iverson Broke?
Allen Iverson’s bank accounts were seized by a judge in Georgia on February 14th, 2012, after the former NBA star’s allegations that he was broke. This came as a shock, given that Iverson made almost $155 million in NBA salaries alone during his playing career. Allen’s endorsement and merchandising partnerships, which are anticipated to bring him an extra $60+ million, are not included in this total.
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Unfortunately, Iverson’s financial woes are all too common among professional players. At times, he was said to have had an entourage of up to 50 people around him. It was a lavish gift to his mother, who he lavished with automobiles and jewels as well as holidays in luxury hotels. In the wake of a court order to pay a Georgia jeweler $900,000, it appears that Woody Allen is unable to meet his financial obligations.
For the month of December 2012, Iverson provided a Georgia judge with a detailed accounting of his income and spending, which came to $62,500 a month. One of the largest chunks of the $360k was spent on mortgages and other debt repayments. That’s not all: Iverson also claimed that he spends $10,000 a month on clothing, $10,000 a month on restaurants/entertainment, and an additional $10,000 on food.
Reebok Trust Fund
In 2001, Allen signed a lifetime endorsement deal with Reebok. The lifetime deal featured three impressive benefits:
#1) Reebok agreed to pay Allen $800,000 per year for life.
#2) For the remainder of Allen’s NBA career, Reebok would pay him $5-10 million per year.
#3) Reebok set aside $32 million in a trust fund which would be inherited 29 years in the future, on Allen’s 55th birthday.
That magic day for point #3 is June 7, 2030. Below is a countdown clock to what we have dubbed “Allen Iverson Trust Fund Day”:
After Allen’s divorce from his wife Tawant in 2010, the public became aware of the Reebok trust money. Because of his extravagant spending habits over the preceding decade, Allen claimed to be almost bankrupt during the divorce procedures. Despite this, Tawant to revealed that he would receive $32 million in compensation.
Allen’s chances of getting the entire trust fund or only half of it are unclear. We can now say that he and Tawant have formally divorced. Since then, their divorce has been formalized. Tawant and Allen reunited shortly after and are still together now, according to Allen. It’s possible that he and she will split the money, in which case he will get half and she will get half.
In 1997, Iverson was arrested for drug possession and for concealing a handgun. It all started when he and his then-wife Tawant got into an argument at home back in ’02. When he was out looking for her, he tossed her out of the home and threatened two guys with a pistol. No contest and community service were his punishments.
He visited the Trump Taj Mahal in December 2006 following a victory against the Charlotte Bobcats. After winning a game of 3 Card Stud, he found out that he had been shorted by $10,000.
Iverson refused to return the chips to the dealer when he discovered the error and a dispute developed between him and the casino officials. As a result, he was expelled from the building and warned not to come again. On Iverson’s behalf, a nightclub patron was allegedly assaulted by his security in the same year.
In addition to a torn rotator cuff and a concussion, the guy also suffered an eardrum rupture and a concussion. He was granted $260,000 after suing Iverson. In 2009, an Ohio man who had gotten into a confrontation with Iverson’s security officer in a Detroit club sued the basketball player for $2.5 million in damages.
Iverson’s ex-wife accused him of kidnapping their children in 2013. The charge was eventually withdrawn by her.
Allen Iverson and Tawant to Turner began dating when they were sixteen years old. The Mansion on Main Street in Voorhees, New Jersey, served as the venue for their nuptials. They have a total of five kids. In March of 2010, Tawant filed for divorce. Though they legally separated in 2013, the pair reunited only one month after the divorce was completed in 2014.
Iverson released a single titled “40 Bars” in 2000 under the alias Jewelz. As a result of the offensive lyrics, he was not able to release the album. However, he agreed to alter the lyrics but did not release the CD.
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Irving is the Chief Editor at the Landscape Insight. He lives just outside of New York. His writings have also been featured in some very famous magazines. When he isn’t reading the source material for a piece or decompressing with a comfort horror movie, Irving is usually somewhere in his car.