He used to be one of the best players in the NBA damn.
As a fan of him growing up and just trying to copy his crossover, I'm just sad how his career panned out.
I thought he had some sort of life-time contract with Reebok that was paying him $5mil every year for the rest of his life.
So sad, it's crazy that you could just toil away 200 million. Even after taxes that is more than 100 million, it's really crazy how these guys don't know how to manage their money, but I do know this, I'd rather have a 50 year old Allen Iverson than a 37 year old Derek Fisher
ya im sad...but there are millions of people in the world that dont even have $100 of savings and never did (all the homeless people in 3rd world countries)...but in prespective its kind of hard to feel sorry for a guy that blow 200 million dollers and is poor now after leading a very luxourus life....but ya i guess its someone we know and can put a face on...its similer to when a person you recognize dies and you feel really bad but dont feel as bad when you hear about a bus full of people died in a crash (you cant put familer face on them)
i dont know what point is, thats just what was going through my head....people that support him now are his true friends
i would spare him a 20 if i saw him in the street
he may be broke but unlike a lot of people he has job opportunites where he can make a couple of million. There is a difference when you are broke and dont have any opportunity or you have opportunities to work a Mcdonalds or some fast food restaraunt. AI can still make a couple of million right now if he is healthy enough.
I second that.
Sounds like he had fun with it, and he was also generous. Also he got a stash, he aint no fool.
Ya its very sad that you can earn that much money then blow it all in such a short amount of time, when average Americans are losing there homes and jobs. He deserves to be broke.
Here is a link I found for it: http://www.usatoday.com/sports/nba/sixers/2001-11-28-iverson-reebok.htm
I think if a charity was started, his Philly family would get him back up on his feet in a jiffy. Hell after all he's given us and the community, I'd have no problem giving back to him. He gave me basketball dreams as a player who never reached over 6'. He gave me hope and was a reason I spent so much time in and around the game. He's a huge reason I enjoy the league as much as I do today.
Yeah, let's start a charity for the guy who made millions of dollars and blew it all. Great call.
He could have blown through it on advances, and or racked up so much credit debt that any income brought in through the contract goes straight to cover money he already spent.
Many instant millionaires, with little or no experience managing money, spend more than they have from day 1 knowing they're going to rake in 15 million the next year, but that often snowballs out of control and when they're only living off 1 or 2 million per year in endorsements it just doens't cut it. They have so much debt and so much intrest on those debts there is flat out no recovering.
Some people said he had been set for life, but I had my doubts considering he went and played in Turkey. The dude could have retired in the uniform of the team and city that loved him. Most NBA legends don't want to end their careers like that unless they need the cash.
He, most likely, still has some money in equities, but if he owes millions his creditors are going to start taking cars, jewely, repossessing houses, etc. People don't &$#%#&@! around when people owe them money, whether it's on the streets or in the corporate world. They're not going to give him a free pass because they liked him as a basketball player, when he owes 860,000 ( and that's just one individual debt, I'm sure he has more).
Allen Iverson is far from broke he was just crying broke to get the judge away from his bank accounts. Notice you never heard of Iverson filing for Bankruptcy right? All the money A.I. spended has been mostly from his endorsements deals, he's hardly ever even have to touch any of the checks he's made from playing basketball. Allen Iverson is not as dumb as people think he just wants people to think that. And the judge only seized his bank account to take back the expenses he owed the jewely and nothing more, plus Iverson has many bank accounts including a Swiss International bank account.
Remenber the summer that passed Iverson got pulled over in his Lambo wit expired plates so he told the cops they can towe it he got 10 more and drove away in a Rolls Royce? http://wendyista.blogspot.com/2011/04/allen-iverson-to-cops-who-pulled-over.html That don't sound like somebody broke to me.
If he owes 860,000 dollars and doesn't file for backruptcy, they're going to start taking his stuff or garnishing any endorsement money he has coming in, like they did with his account. If he has the money why doesn't he just pay it? That's not how someone who is set for life acts.
A lot of broke millionaire's still have equity, including and not limited to many cars, they still own those. He very well may have 10 cars that he has 100% paid off and can afford to give away, but that doens't mean he has millions in banks.
What are you, his accountant?
You can be in possession of 100 cars and still be broke.
I understand you like the guy, but seriously, if you have millions of dollars and can afford to pay a 860,000 dollar debt you owe why on earth would you let it get all the way to the court system and claim you dont have money????
If you tell the judge you can't pay, then that means you can't. No lawyer on earth would permit his client to lie to a judge in order to "get the judge away from his bank accounts" he could goto prison for that. If he can afford to pay why gamble going to federal prison and drag your name through the mud?
Allen Iverson, Antoine Walker, Terrell Owens...
These guys going broke is just sad and comical at the same time. How in the hell do you blow so much money?
Let's start a charity for Iverson... Pure comedy lol. Ha ha. That's just hilarious.
Did I say we should start a charity for Iverson...NO.
Did I say I think people from Philly would help him out and give him $$$ through a charity of such...YES.
2 different things entirely.
Maniac's most successful posts tend to be those where words are manipulated or he makes a blatantly obvious statement that did not require a post.
Taxes? We Talkin about taxes?
"These guys going broke is just sad and comical at the same time. How in the hell do you blow so much money?"
Its not comical at all IMO. Most of the players who end up in this position are victims of addictions. I know many think it is foolish to call addicts victims. It was foolish to fall into that state. But once you enter that state of addiction, you truly are a victim.
Many people in my family and people I know from my past have become victims of addiction (predominantly alcoholism, but also drug, sex, gambling, food...etc.) It tears apart families, friends, and lives. The addiction becomes all you seek. You can tell yourself over and over again you can conquer this, but even if you stay away from it for x amount of day, it builds up more and more, and you reach a point where you can hardly function b/c your mind is deadset on getting its fix. Its scary.
I feel bad for guys like A.I., Antoine Walker, etc. Once you reach that point of addiction, even a warrior like Iverson has a hard time combating that Check his alcoholism history.
Im usually a sympathetic person, but I have no sympathy for someone who blows hundreds of millions of dollars. That's just too much money to lose over silly things.
T.O, 4 baby mommas? You made the same mistakes FOUR TIMES? Can't feel sorry for ya.
Antoine Walker and A.I. gambling and spending millions in single nights? Can't feel for you, sorry.
Spending wild money for an entourage? Those people for the most part don't care about you. Where are they now that you're broke? You get a "learn who your real friends are talk" from your parents in middle school. And even if you didn't then, you come across it as you grow up. I don't feel for you.
I do think divorces should be handled differently because some of these people's wives aren't doing anything and still getting broke off crazy. I hate to see it happen, but it happens.
But how can you be DEAD broke and you make that much money. It's sad but I just can't feel bad for that. It's their own fault.
I'm not saying you should feel bad for them. It is sad though as you mentioned. I just don't find it comical in A.I.'s case where addictions to gambling and alcohol had a big part in his losses. Now T.O. on the otherhand...
I find it sad and completly irresponsible when someone blows that much money. I have no sympathy what so ever for Iverson's financial situation. You can't be careless enough to just giving out money to anyone and everyone. I am fine with him giving out tons of money to his family and pose, but gambling and alcohal is somthing that he and the people around him should have monitered. He is probably boke because he still lives like a King. Unfortunatly when someone comes from a situation like he did, you get carried away, and don't want to go back, but it would have been much smarter had he lived within his means, which is still among the top .01% of the world.
It is very sad because someone who comes from where Allen Iverson came from, and overcomes obvious physical limitations to become an NBA MVP should be great story about overcoming adversity to find enormous amounts of success, but instead it ends up as another cautionary tale about being young, rich and dumb.