Allen Iverson Isn’t ‘Broke’, He Is Sitting On $55 Million

· March 2, 2012

After the media ran with the story that Iverson ran through $150 large M’s and then the Georgia judge seized his account to pay off his $859,896.46 tab everyone thought he was broke.

According to a Peter Vecsy from the NY Post, the number is more like $250 million. Let’s not forget A.I’s numerous endorsem**ts, specifically Reebok.

36 year-old A.I won’t be filling bankruptcy any time soon even though he lives a champagne campaign lavish life style blowing money fast. 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.

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 enti*led 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.

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Discussion13 Comments

  1. jfizzle says:

    Well that’s good to know.

  2. Simba says:

    Good to hear he ain’t broke. And someone had some sense to take those precautions, at least he will live comfortably til his dying days.

    Good looking homie.

  3. Blizzard215 says:

    His biggest investment was knowing the person that set up that Trust account for him.

  4. trey says:

    damn how the #$@##@ he spend through all that money? good for him for not being broke though

  5. Nd3F says:

    Maybe some people will be quiet about his money now.

  6. PapiChulo says:

    been telling folk from day one that iverson is still getting money, ont only can he get a pension but he is also on of the few NBAS players to sign a lifetime sneaker deal, with reebook. However Iverson has nicca fool tendencies, just because he makes money does not mean he cant be broke, especially with his clubbing nightlife and othert foolish acts

  7. awsds says:

    BMF in is the way to go you cant live forever and its not your job to support of you kids9 past 18), grand kids , great grand kids etc..

  8. BzB says:

    dude is still making money, but he has a lot of expenses. plus it’s hard to scale back when you’re used to the multi million lifestyle.

    fortunate that he has money put away that he can’t touch, otherwise that would probably be gone too! too many hanger ons and enablers leeching off him. cut them leeches loose ai!

  9. JOE says:

    Now THAT’S being a professional. The person that he payed to handle his money was able to stash away enough of his money FROM him, FOR him. And not CHEAT him outta money. Thank god for THAT GUY!!

  10. ginoBrown says:

    Rich folks that “go broke” are never really broke, they just don’t have nearly as much money as they use 2 have…now that he has his financial situation headed in a positive direction I hope my boy A.I. learns 2 live within his means and not try 2 ball out of control every night.

  11. trob says:

    maybe players want people to think they r broke so everyone doesn’t expect something…for free all the time.

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