Born on June 7th, 1975, Allen Ezail Iverson is a former NBA player. “The Answer,” as he is nicknamed, is well respected among his peers and is considered one of the most influential players of all time.
Iverson played in the NBA for 14 seasons at the shooting guard and point guard positions. He was inducted into the Naismith Memorial Basketball Hall of fame in 2016.
Following two unbeaten years with Georgetown University, Iverson decided to declare eligibility for the 1996 NBA draft and was picked by the Philadelphia 76ers as the No.1 overall pick. He was subsequently named ‘Rookie of the Year’ in the 1996–97 season. In his 16 year career, Iverson also played for the Denver Nuggets, Detroit Pistons, and the Memphis Grizzlies before he calling it time with the 76ers during the 2009-2010 season.
What is Allen Iverson’s net worth now?
Allen Iverson is considered an icon in the basketball world. He made a fortune for himself, both through his game and his influential status. Although he earned a lot of money through playing in the NBA, his current net worth is estimated at $1 million.
Allen lost much of his money because of his spending habits. He led a lavish lifestyle and always showered his family and entourage with gifts and extravagant vacations. There were reports that Iverson was so careless about his expenditure that when he forgot where he parked his car at the airport, he bought a new one instead of looking for it.
Iverson’s financial crunch came to light when he failed to pay $900,000 to a local jeweler, as per a court order. The former MVP disclosed that his monthly income was $62,500, whereas his expenses were around $400,000. However, the player has not declared bankruptcy yet.
Allen Iverson’s Salary
Allen Iverson was earning roughly around $2 million. With the Philadelphia 76ers, till the 2005-06 season, he was earning around $16 million. His stint with the Denver Nuggets and the Detroit Pistons earned him roughly around $2 million. Due to a disastrous tenure with the Pistons, he left and shifted back to his first team, the Sixers. He earned around $1 million. He then shifted midway to the Memphis Grizzlies. However, due to his daughter’s ill health, he had to leave. At that time, he had earned only around $1,60,000.
Allen Iverson’s Career Earnings
Throughout his career, Iverson earned roughly around $154.8 million. The majority of this came from his stint with the Philadelphia 76ers, where he made roughly around $98 million. His first deal was a six-year $70.9 million deal that he signed before the 1999-2000 season. Later on, he signed a four-year extension before the 2004-05 season, which stood at $73.5 million. Iverson earned the highest deal of his career in the 2008-09 season at $20.8 million.
His one year deal with the Memphis Grizzlies was signed at $3 million. However, both sides mutually decided to terminate the contract due to a disastrous tenure with the team. During this stint, Iverson earned only $4,00,000. He returned to the Sixers in the middle of the 2009-10 season, where he earned a little over a million. Unfortunately, the player had to leave to take care of his daughter.
Allen Iverson Endorsements
Besides his salaries, Iverson also earned much money through various endorsements, the most notable of which is his deal with Reebok. The American sports and apparel firm endorsed Iverson as soon as he entered the NBA. The two agreed to a 10-year, $50-million deal. Later on, Reebok gave Iverson a lifetime deal after the Philadelphia 76ers legend won league MVP in the 2000-01 season.
According to various sources, the deal includes paying Iverson $800,000 a year. It also includes a $32 million trust fund that Iverson can access when he turns 55 in 2030. However, Iverson would gain only half the amount as his ex-wife, Tawanna, holds the rights to the other half, owing to their divorce.
His other endorsements include IO Moonwalkers, Packer Shoes, Stance, and T-Mobile.
Allen Iverson Other sources of income
In 2001, Iverson signed an endorsement deal with Reebok that pays him $8,00,000 a year for life. Additionally, Reebok also set aside $32 million in a trust fund that Iverson would gain access to in 2030. The secret deal came to light when Tawanna, Iverson’s wife, filed for divorce.
Aside from his money with Reebok, Allen Iverson will also get some money out of his NBA pension fund, which pays $800 a month.
Allen Iverson Charity Work
“The Answer” Allen Iverson, along with a host of former NBA players and AND1 Mix Tape stars, hosted “The All In Basketball Game” which hopes to raise funds for homeless people in the country. He offered to volunteer his basketball skills–not as a player but debuting his coaching abilities–to American and Asian street players.