ALLEN IVERSON REPORTEDLY HANDED $61 FROM HIS EX-WIFE BECAUSE HE WAS BROKE



ALLEN IVERSON

In the below report, it talks about Allen Iverson’s struggles with life after basketball and how he doesn't have money. At one point he pulled his pockets out of his pants and told his estranged wife that he couldn't pay for a cheeseburger (during a divorce proceeding). There is good news though. Reebok put money into a deferred trust for him and if he can make it to 55 years old, he will get more than $30 million).
Check out this story....

Via Washington Post:

Here are a few excerpts:

Iverson stood during a divorce proceeding in Atlanta in 2012 and pulled out his pants pockets. “I don’t even have money for a cheeseburger,” he shouted toward his estranged wife, Tawanna, who then handed him $61.

The scene showed a stark side of a man who had captivated crowds, pushed boundaries, and became one of the NBA’s biggest stars. He did things his way, on his schedule, speaking honestly during news conferences and snubbing the professional sports establishment. Crowds connected with Iverson, who’d succeeded despite physical limitations and mistakes, such as a felony conviction at 18 for his role in a bowling-alley brawl in Hampton, Va., his home town.

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Basketball was Iverson’s sanctuary, and he signed huge contracts: a six-year deal in 1999 worth $70.9 million and, four years later, a new agreement worth $76.7 million. Reebok signed him to a huge endorsement deal, including a deferred trust worth more than $30 million, a lump sum he can’t touch until he turns 55.

His play kept his shortcomings in the shadows, but at home, his behavior caused increasing worry. Tawanna testified that her husband was undependable and volatile. Alcohol intensified his flaws, she said, leading him to skip milestone events and stagger through others.

He hadn’t been present for Tiaura’s birth in 1994, and three years later, when Allen Jr. was born – they would call him Deuce – Iverson was “very intoxicated” and unable to drive her to the hospital, Tawanna told the court.

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Iverson kept living as if another contract was imminent, and Tawanna struggled to curb his spending. According to a bank statement submitted in the divorce, the couple’s checking account was overdrawn by more than $23,000 in July 2011. In a single day, $23,255.36 was deducted – at a diamond store, a hat shop, a steakhouse and a hotel.

Tawanna testified that her checks bounced that month when she paid for housing and electricity. She sold jewelry and Tiaura’s car to pay for household expenses, including school clothes and supplies.

Before their home in Denver was foreclosed, Tawanna testified, she sold more jewelry at a pawn shop to pay toward debt. Iverson owed thousands to a Georgia home builder, was hit with tax liens, and his wages were garnished to settle a nearly $860,000 balance with a jeweler.