Art Posted March 4, 2012 Report Share Posted March 4, 2012 ARTICLE . 03.04.2012. SLAM . ALLEN IVERSON IS'NT ACTUALLY "BROKE" When a Georgia judge took control of Allen Iverson’s bank account to repay a jeweler, fans and pundits speculated The Answer was broke. Well, that’s not really the case. From the NY Post: “However, hold the bankruptcy proceedings. He is far from insolvent, at least in the real world, if not in harmony with his ‘nothing in moderation’ lifestyle.Peter Vecsey . SLAM 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, at 36, at any rate. 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.Peter Vecsey . SLAM 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.Peter Vecsey . SLAM 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. Busted or ‘in the chips,’ it’s distressing we’re driven to dissect Iverson’s fiscal fitness and downright depressing we’re discussing his career in the past tense. Was Iverson really that bad an hombre for the whole NBA to turn its back on such a crowd-pleasing talent? Peter Vecsey . SLAM Quote Link to comment Share on other sites More sharing options...
Mentch Posted March 4, 2012 Report Share Posted March 4, 2012 A restraining order against himself? I'd like to see that 1 Quote Link to comment Share on other sites More sharing options...
misterx Posted March 4, 2012 Report Share Posted March 4, 2012 thats smart. i read shaqs new book and he did something similar to this too Quote Link to comment Share on other sites More sharing options...
Sħãlïq™ Posted March 23, 2012 Report Share Posted March 23, 2012 Latest on AI -- Iverson won't join Dominican Republic team: The manager for Allen Iverson says the former NBA star will not play for a team in the Dominican Republic. Gary Moore says Iverson has not signed nor is he considering signing with any team. Earlier Thursday, Pueblo Nuevo team president Milton Nunez told The Associated Press the 36-year-old guard would play for his team. Moore says Iverson is "shocked'' by Nunez's announcement. Moore says Iverson is still working out, ``waiting for another opportunity.'' Iverson left the NBA in 2010. He was the NBA's MVP in 2001, when he led the Philadelphia 76ers to the NBA finals. In 14 seasons in the NBA, he averaged 26.7 points. He has also played in Turkey.http://www.nba.com/2012/news/03/23/iverson-dominican-republic.ap/index.html Quote Link to comment Share on other sites More sharing options...
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