MC Hammer-ed? Allen Iverson Allegedly Broke After Blowing $154 Million
What would you do with $154 million? If you’re name is Allen Iverson, you apparently spend it until there’s no more left.
I mean, you can’t take it to the grave with you, right? But you can try to stretch it out. You see, Allen Iverson spent 14 years in the NBA and earned a ton of money. That $154 million is just from his salary and does not include the numerous endorsement deals he landed during his tenure. That’s a whole lot of cash. But now that Iverson is out of the NBA, his spending habits have reared their ugly head and it seems that “The Answer” is that Iverson is broke. Well, at least that’s what a Georgia judge has found out.
When the judge ordered Iverson to pay $860,000 to a jeweler for money he allegedly owes, it was found that Iverson didn’t have the money, which led the judge to order that Iverson’s earnings be garnished and his bank accounts commandeered. Yikes. Nobody saw this coming. Well, unless you count reporter Kate Fagan, who addressed those financial woes back in 2010.
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.
It’s not all that surprising that professional ballplayers mismanage their money and are “broke” far too soon. But Iverson parting ways with his cash faster than Kris Humphries parted ways with a Kardashian is mind boggling. How he did it is not immediately known, but his extravagant spending and massive entourages have been well documented.
It’s unfortunate that Iverson is no longer an elite NBA player who can find a team to pay him for his services. Instead, he’ll look to possibly play in Puerto Rico to supplement his income. Damn. We hate to say it, but Iverson has gone MC Hammer on us.
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