Allen Iverson is an American former professional basketball player who has a net worth of $1 million and total career earnings: $155 million . Allen is considered one of the greatest basketball players of all time.
Early Life
Allen Iverson was born on June 7, 1975, in Hampton, Virginia to a 15-year-old single mother, Ann Iverson. His father, Allen Broughton, left the family when he was young. He grew up amidst drugs and crime . But, he was beloved by the neighborhood kids and childhood friends often described him as looking out for the younger kids.
Iverson attended Bethel High School and started as the quarterback for the football team. Iverson also played for the basketball team.
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Basketball Career
He briefly attended Georgetown University before being drafted by the Philadelphia 76ers in 1996. Iverson was a controversial player both on and off the pitch. He was originally recruited straight out of a Virginia jail cell by Georgetown University Head Coach John Thompson.
Conviction
Allen Iverson had been arrested for his involvement in a bar fight and faced a lengthy prison sentence. Thompson persuade a judge to release Allen into his custody with the agreement that Iverson would go to Georgetown, play basketball and graduate. Iverson left Georgetown early against Thompson’s wishes and embarked on a very successful career as an all-star NBA point guard.
In 1999, Iverson earned his first playoff trip with the 76ers. He started in all ten playoff games before finally losing to the Indian Pacers in the second round. In 2001, Iverson led the team to the final. In the same year, he was named Most Valuable Player.
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Financial Woes
Iverson’s financial woes are a sadly familiar story to many professional athletes. Extensive travelling with around 50 people , unnecessary expenditure on family , cars, home and vacations worsened the situation. A Georgia jeweler sued him $ 900,000 fraud and he didn’t had money to clear the cheque.
Investments
In 2001, Allen signed a lifetime endorsement deal with Reebok with three impressive benefits. First Reebok agreed to pay Allen $800,000 a year for life. For the rest of Allen’s NBA career, Reebok would pay him $5-10 million a year. On his 55th birthday on 3rd June, 2030 , he would be inheriting $32 million in a trust maintained by Reebok.
