Earlier in the year there were reports that Allen Iverson - cultural phenom and perhaps the best scorer in the history of the NBA under 6’5″ – was dead broke. A.I. still gets a hero’s welcome wherever he goes but the golden years of his career have been soiled by inabiliy to take a 2nd tier role with an NBA team. This has forced him to play in places like China where his crossover is still wildly potent.
So, the stories about his finances asked if he was playing overseas simply for the love of the game or if Iverson, who has reportedly made over $154M in his career, needed the money. Iverson maintains that money ain’t a thing. Some recent financial statements in a divorce settlement with his wife paints a different picture.
TMZ reported this week that The Answer’s monthly expenses are putting a smackdown on his monthly income:
Allen brings in $62,500 in monthly income, but his expenses are FAR, FAR, greater … costing him a cool $358,376.66 PER MONTH!!!!
So where does all his money go?
A large chunk — $125,749.33 to be exact — is spent paying off various creditors (like his jeweler) … and some goes to his mortgages (but not for long, since his ATL crib is about to be auctioned off).
But Allen says he blows a lot on OTHER expenses too … like $10,000/month on clothes, $10,000/month on grocery/house items, $1,000/month on dry cleaning, $5,000/month on entertainment, $5,000/month on restaurants … and so on.
All in all, Iverson — who reportedly made over $150 MILLION during his NBA career — says he ends up in the hole each month to tune of $295,876.66. Ouch.
Despite the mounting debt though, he’s still got his Maybach (which is fully paid off) … and reportedly worth between $340k – $400k.
Of course, in a divorce settlement – and a nasty one at that – it would behoove Iverson to show as little income as possible. The only question is, how far from the truth is it?