Allen Iverson Has No Answer For Financial Woes

[Andrew]

AI has become the latest former NBA player to experience serious money troubles.

Allen Iverson has reportedly gone from 11-time NBA all-star to financial deadbeat. The Philadelphia 76ers icon was recently ordered to pay over $860,000 to a jeweler, and he couldn't cut a check.

A Georgia judge has ordered the seizing of Iverson's bank account, so the relatively little money he has left will be garnished, reports the Philadelphia Inquirer.

This isn't just another formerly famous athlete blowing a ton of cash. Iverson was among the biggest superstars in the NBA, earning more than $154 million during a professional career that began back in 1996. (This doesn't include endorsement money and other business deals.)

It's been said before, but some of these players really need better advice when it comes to their finances, someone who will look out for their best interests.

[Sideshow Bob]

Damn... Reading this really hurt my heart A.I is one of my favorite players!

[JBoom_LALALAND]

I agree.. talent wasted ...

[benji]

Gambling problem.

He's banned from all the casinos in the Detroit Metro area and most in Atlantic City.

[volsey]

From rags to riches to this. Sucks man.

[Andrew]

Sounds like it was the entourage that really did him in, as it has other former players. I can understand feeling loyalty towards the people you grew up with and supported you while you tried to make it big, but when all they're doing is mooching off your success they certainly aren't true friends worthy of that loyalty. I wonder how many of them are sticking around or offering to lend a hand now that he's fallen on hard times.

[Axel]

I don't feel bad for him. My liberal heart bleeds for enough causes as it is.

[atlwarrior]

I think AI will be ok for the time being.

http://rochesterlancers.com/news.php?id=63#.Tz_kNE_6t8s.facebook

[CheddahCheese]

Wow, that's just sad. When you become rich in the NBA world, you almost become blind and spend money on unnecessary things. Look at Antoine Walker and now Allen Iverson. If I ever win the lottery first thing I'm doing is hiring a financial adviser.

[Sauru]

It's been said before, but some of these players really need better advice when it comes to their finances, someone who will look out for their best interests.

thats the problem these type of people have. they think all agents and what not are out to get thier money, and for the most part thats probably true. so they go with people they grew up with cause they were cool. what they dont know is people are just latching on to you cause they think you got a chance to make it big and they want to reep the benefits of that.

really the only person out there who gives a shit about the player is the actual player. they need to step up and not rely on anyone else.



edit: if i win the lottery i am gonna quit my job and start paying attention to my money for a living.

[Andrew]

It's got to be a tough situation as they obviously go way back with some of these people but if they're only sticking around for a free ride then the sad fact of the matter is they're not real friends.

[Sauru]

its what happens though. i think that was the entire point of "he got game"

[Andrew]

Yeah, I vaguely remember that scene. All too common in sports and entertainment, I'd say.

[Patr1ck]

This happens in all levels of society, no matter the amount of money. Remember the kids in high school who had a car before everybody else? All of a sudden they were popular and everybody "wanted to roll."

[Sauru]

This happens in all levels of society, no matter the amount of money. Remember the kids in high school who had a car before everybody else? All of a sudden they were popular and everybody "wanted to roll."

yeah its the same thing. get the car first, have rich parents, suddenly you are mr popular and all the girls want you.