Peter Vecsey sets the record straight on Allen Iverson finances. We are thankful that he did and we were like the mainstream media in the way we fell for the hype. Playahata.com apologizes for our re-print.
Last month, when a Georgia judge seized the bank account of Allen Iverson in order to pay out a substantial debt for an unpaid jewelry bill amounting to $859,896.46, the mass media assumed it meant he was broke. Reports claimed he’d gutted $150 million in earnings over his 14-year career.
From what I’m told, the number is more like $250 million. Let’s not forget A.I’s numerous endorsements, specifically Reebok.
However, hold the bankruptcy proceedings. He is far from insolvent, at least in the real world, if not in harmony with his “nothing in moderation’’ lifestyle. Someone who cared a great deal for Iverson and grasped the extent of his habits, loyalties and generosity protected him to some degree from financial ruination, at 36, at any rate. (more…)