Discussions surrounding Allen Iverson’s net worth of $1 million and his money-management skills have been quite rife lately. Once a darling of the basketball world, Iverson has been used as an example of what extravagant living, high-class lifestyle, and having lots of wealth is. In fact, this has led to the NBA considering following the example set by NHL where players are encouraged to seek money management services from selected and verified money managers. This is in line to enabling their players live comfortably even after retiring from playing professional basketball. This is certainly a worthy move considering that approximately 60% of NBA players go broke within the first 5 years of retirement.
Allen Iverson Net Worth: The Foundation
Allen Iverson is an African-American retired basketball player who was born on June 7, 1975 in Hampton, Virginia, the United States. He is also referred using names such Allen Ezail Iverson, Al, The Answer, Ivy, Allen E. Iverson, and many others. Besides being a basketball player, Allen has also tried his hands on rapping. Though not as tall as most basketball players (6 ft (1.83 m), Ivy was a force to reckon with in his hey days. He was famous for his fast pace, quick moves and accurate shots which made him one of the best point guards in NBA’s history. Furthermore he featured in the NBA All Star team a record 11 times.
Allen became interested in basketball from a young age partly because he grew up in a neighborhood that not only hosted several courts, but has also produced many professional players. Besides taking part in the sport he constantly watched NBA games to learn a thing or two. After finishing primary school he attended Georgetown University where his skills got noticed by the then head coach of the University basketball team, John Thomson. While studying at the University, he was lucky enough to be drafted by the Philadelphia 76ers. Unlike the usual recruitment where a player is picked from a team, Iverson was recruited from the jail where he was serving a long jail term for fighting in a bar.
“The Answer” as he was popularly known in the court has always been very controversial. Other than being recruited right from jail, he also took a break from the normal studies in order to pursue a full-time professional career. The agreement with the court/judge was that his head coach, John Thomson was liable for Iverson and was to ensure that he not only played basketball in Georgetown but also graduated. But it wasn’t long before Ivy left the university prior to graduation to pursue his career. Joining the Philadelphia 76ers certainly gave Allen Iverson’s net worth a boost as he became one of the most dependable players. The Iverson era had begun.
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Allen Iverson Net Worth And Salaries
Most of his basketball career was spent at Philadelphia 76ers. However, he later on switched teams and started playing for Denver Nugget from 2006 to 2008. He then moved to Detroit Pistons (2008-2009). A brief look at Iverson’s earnings and salary throughout his career;
– $2.2 million Philadelphia 76ers (1996-97)
– $3.1 million Philadelphia 76ers (1997-98)
– $3.5 million Philadelphia 76ers (1998-99)
– $9 million Philadelphia 76ers (1999-00)
– $10.1 million Philadelphia 76ers (2000-01)
– $11.25 million Philadelphia 76ers (2001-02)
– $12.3 million Philadelphia 76ers (2002-03)
– $13.5 million Philadelphia 76ers (2003-04)
– $14.6 million Philadelphia 76ers (2004-05)
– $16.4 million Philadelphia 76ers (2005-06)
– $17.1 million Denver Nuggets (2006-07)
– $19 million Denver Nuggets (2007-08)
– $20.8 million Detroit Pistons (2008-09)
– $1.029 million Philadelphia 76ers (2009-10)
In 2009-2010 seasons he moved to the Memphis Grizzlies where he earned only $ 161 thousand for the entire season. His career had certainly taken a nose dive. Allen Iverson earned approximately a total of $155 million throughout his career.
Between 1998 and 2005, Allen Iverson was among the very best and was named the top scorer four times. He also comes second to Michael Jordan when it comes to highest scoring per game.
Unfortunately, his career was certainly over by the time he was heading to the Memphis Grizzlies (2009-2010). His poor performance, controversial lifestyle and of course stiff competition from upcoming basketball players made it harder for Allen E to secure a first team position. There was more talk about how he wasted money on life’s little luxuries, bankruptcy cases, and seizure of property. At one point, a judge ordered Ivy to pay a debt of about $900, 000 he owed a jeweler. But, he didn’t have the funds.
Trying to play for NBA teams is proving to be a big challenge and has his eyes focused on Puerto Rican, Turkish or Venezuela league. Life can certainly be hard for a person who used to spend $10,000 on grocery, $10,000 on clothes, $10, 000 on entertainment, and $10,000 on restaurant monthly. But, all is not lost for Allen Iverson. A deal he made with Reebok many years ago ensures that though he can’t roll with the big dogs or splash money at the moment, he will be in a position to earn $30 million after he attains the age of 55 years (2030). The company pays him $1 million annually. Looking at Allen Iverson’s net worth of $1 million, one can only wish he invested his money more wisely. But, hey, 2030 isn’t far, right?