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Wednesday, February 15, 2012

Allen Iverson Broke......Blows $150 MIL..............




Allen Iverson
It looks like no one knows "The Answer" to this question - where did all of Iverson's money go? The once most sought-after b-ball player in NBA history is now looking at playing in Puerto Rico or Iran to make a financial comeback.
In NBA salary alone, he earned about $154 million, according to basketball-reference.com .
Now, a judge in Georgia has ordered Iverson to pay the $860,000 he apparently owes a jeweler,The Philadelphia Inquirer reports. The problem is, he didn't have the cash to pay the jeweler, so the judge has ordered his bank accounts commandeered and his earnings garnished.
Rumors about Iverson's insolvency began as far back as 2010, when an Inquirer reporter visited the guard in Turkey,  where he was apparently playing on a two-year $4 million contract for a non-elite team.
"The 76ers' former all-everything guard is broke - by all accounts except his own - and playing here in Istanbul for a number of reasons, none of which is to become an ambassador for Turkey's solid, but often overlooked, professional league," wrote reporter Kate Fagan in November, 2010.
It's sad to say, but this is not uncommon.  The NBA Players' Association reportedly reminds its rookies every year that 60 percent of NBA players go broke five years after their last basketball-related paycheck, reports The Toronto Star .
According to Yahoo Sports, big names like Scottie Pippen, Antoine Walker, Kenny Anderson, and Derrick Coleman have all had financial problems, after leaving the NBA.
Iverson was known for spending big - his jewelry, his tattoos, his friends, his entourage of 50 deep - hey, he spent money like a baller, and that's what he was...
The question now is where will "The Answer go" and how will he pay his bills.




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