Report: Allen Iverson is not broke because a friend was smart

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 5 years ago '04        #1
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d2921 2850 heat pts2850
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Report: Allen Iverson is not broke because a friend was smart
 

 
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.

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.





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 Report: Allen Iverson is not broke because a friend was smart | ProBasketballTalk

73 comments for "Report: Allen Iverson is not broke because a friend was smart"

 5 years ago '05        #2
Die-Nasty 40 heat pts40
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"At 45, Iverson"


[pic - click to view]

 5 years ago '07        #3
Barnone254 1 heat pts
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that real right there
 5 years ago '04        #4
Sabotage 9 heat pts
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holy sh*t allen inverson is a moron. he doesnt deserve a friend that like
 5 years ago '05        #5
Soprano ATL 43 heat pts43
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Old news, but as a huge fan of his I'm happy it's true.
 5 years ago '11        #6
elvisfreshly 106 heat pts106
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GOATs don't go broke


Except Toine
 5 years ago '06        #7
Rique 60 heat pts60
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$40,488 | Props total: 17932 17932
Whoever told him get that annuity probably made a k!lling


In financial services if you sell an annuity especially for this amount you get a nice check cut right away

$3.2 mill check that day

10% of the sum
 5 years ago '12        #8
BlackBreesus 60 heat pts60
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Man wtf. If I'm ai and n*gga got 32 million of my dollars bi*ch you ain't gon tell me I can't touch my money till I'm 55 . I want to be able to spend that sh*t.

I'd keep the money in who ever it is name so the ex wife can't get none tho.
 5 years ago '07        #9
Bkjj11 3548 heat pts3548
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nice sh*t
 03-11-2013, 10:59 PM         #10
P Griff 
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 Dee504 said:
Man wtf. If I'm ai and n*gga got 32 million of my dollars bi*ch you ain't gon tell me I can't touch my money till I'm 55 . I want to be able to spend that sh*t.

I'd keep the money in who ever it is name so the ex wife can't get none tho.
considering A.I. was a fu*king idiot with his money, this is savin his a.ss
 5 years ago '09        #11
The Bully 352 heat pts352
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the way he lives he prolly won't even see the age of 55
 5 years ago '04        #12
GollyI'mGully 69 heat pts69
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 Dee504 said:
Man wtf. If I'm ai and n*gga got 32 million of my dollars bi*ch you ain't gon tell me I can't touch my money till I'm 55 . I want to be able to spend that sh*t.

I'd keep the money in who ever it is name so the ex wife can't get none tho.
 5 years ago '08        #13
supervillain 244 heat pts244
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 The Bully said:
the way he lives he prolly won't even see the age of 55
 5 years ago '07        #14
OG Perez 16 heat pts16
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A.I the real GOD


But like Bully said. The way he lives. I doubt he gets to 55. He's a bad alcoholic.

He's the one that fu*ked up Melo why you think melo got the chubby face. Melo is an alchy

While melo is out getting drunk at 3 am at the club while Lala is on the other side of the country. Lebron on a off game day; was in bed by 8 cuz he knows he needs the rest

We all know the motto
 5 years ago '06        #15
Storchaveli 94 heat pts94
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Black athletes need to be smarter with their money. You were the man, AI.
 5 years ago '06        #16
Rique 60 heat pts60
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 Dee504 said:
Man wtf. If I'm ai and n*gga got 32 million of my dollars bi*ch you ain't gon tell me I can't touch my money till I'm 55 . I want to be able to spend that sh*t.

I'd keep the money in who ever it is name so the ex wife can't get none tho.
You sound just as dumb as AI man
 03-12-2013, 12:03 AM         #17
NETS05 
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 Dee504 said:
Man wtf. If I'm ai and n*gga got 32 million of my dollars bi*ch you ain't gon tell me I can't touch my money till I'm 55 . I want to be able to spend that sh*t.

I'd keep the money in who ever it is name so the ex wife can't get none tho.
 5 years ago '12        #18
BlackBreesus 60 heat pts60
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 Rique said:
You sound just as dumb as AI man
You'd be dumb for wanting to be able to spend your money you earned?

You dumbass it dont matter if he blew it as soon as it got in his possession it's his money he went On that court and earned.

n*gga like 37 and another n*gga gon tell him when he can sped his hard earned money.


Like I said he'd be smart to keep it in dudes possession but if he wanted his money he's got every right to it.
 5 years ago '05        #19
Hold That 103 heat pts103
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 Dee504 said:
You'd be dumb for wanting to be able to spend your money you earned?

You dumbass it dont matter if he blew it as soon as it got in his possession it's his money he went On that court and earned.

n*gga like 37 and another n*gga gon tell him when he can sped his hard earned money.


Like I said he'd be smart to keep it in dudes possession but if he wanted his money he's got every right to it.
Iverson has earned over 200mil in the NBA(not even considering the endorsement money he was getting from Reebok that was a massive contract as well), a friend had forsite to put away 35mil of that 200.. Which still left him with 165mil. And your sitting here asking questions as to why he can't touch his money when he's down to his last 35mil until he's 55?


If given that money right now, Iverson would literally blow that money in less than 5-10 years. You must have forgotten Iverson has a SERIOUS gambling problem. Whats the point of having friends if they aren't looking out for you in the long run. And at the end of the day, if he blew through that much cash, in 15 years, you shouldn't be asking any questions as to why he should wait until he's 55. Remember thats his LAST 35mil, it's easy and cool to blow money when you're getting annual 18mil per year checks, but thats not happening anymore, his friend was smart. And if Iverson was real, he'd atleast give his friend 1mil of that money for doing that for him.

Think about that for a second, Iverson at one point was making damn near 18-20mil per year.. And after a long a.ss nba career, he's down to just 2 seasons worth of paychecks ONLY because of a friend doing him a favor.


Last edited by Hold That; 03-12-2013 at 12:21 AM..
 5 years ago '11        #20
Dray 1187 heat pts1187
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been knew about the account @ 55

he also has a LIFETIME contract with reebok

he also still pulls up to the club in a lambo for the haters

its like when they called Master P broke all those years he was battling a divorce (he was hiding his a.ssets)
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