Music Feature

Update: Allen Iverson Isn't Broke, He Just Doesn't Like to Pay His Bills

by Brandyn Campbell
In case articles on former Sixers star Allen Iverson such as the one posted here recently had you terribly worried about Iverson's future and financial status, don't be. The good news is that, despite lavish spending habits, AI is not broke. Photo via inquisitr.com
allen-iverson-1-med
In case articles on former Sixers star Allen Iverson such as the one posted here recently had you terribly worried about Iverson's future and financial status, don't be. The good news is that, despite lavish spending habits, AI is not broke.

He just doesn't like to pay his bills.

Peter Vecsey of the New York Daily News reported last Sunday that someone in Iverson's inner circle cared enough about the guard to try to prevent from him from spending anything he earned during his NBA career. Phew.

A source told Vecsey that Iverson "has an account worth $32 million, a principal he is prohibited from touching until 55. In the meantime, it feeds him $1 million annually.
At 45, Iverson is eligible to start drawing on an NBA pension that maxes out at 10 years of active duty, or take whatever’s there as lump sum. He will be entitled roughly to $8,000 per month ($800 per x 10)."
If that's broke, I want in.
 

In other news of good fortune regarding Iverson's finances, TMZ reports that he is due $4 million for a lawsuit from 2010 stemming from a home he purchased in Georgia. Assuming that Iverson receives that money, and pays the $860,000 he owes a Georgia jeweler, AI will still come out $3.14 million ahead.


No word on Iverson's attempts to obtain employment in Venezuelaor elsewhere.
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