Allen Iverson Net Worth is $1 Million
Discussions surrounding Allen Iverson’s net worth 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 enable their players to 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: Bio
Allen Iverson is an African-American retired basketball player who was born on June 7, 1975, in Hampton, Virginia, the United States. Besides being a basketball player, Allen 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.
He attended Georgetown University where his skills got noticed by the then head coach of the University basketball team, John Thomson. He was 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.
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.
See Also: Kobe Bryant’s Net Worth
Allen Iverson Net Worth: NBA Career Salary
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 NBA 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 $161,000 for the entire season. His career had certainly taken a nose dive. Allen Iverson earned approximately a total of $155 million throughout his career, excluding endorsement income.
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.
Allen Iverson Net Worth: Money Problems
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.
Allen tried to restore his former glory but all efforts turned futile. He officially retired in 2013. Life can certainly be hard for a person who once lived lavishly to have to stick to a budget to avoid going broke. However, all is not lost for Allen Iverson. A deal he made with Reebok many years ago will continue to pay him $1 million annually and a lump sum of $32 million when he turns 55 (2030).
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?