About Allen Iverson
Allen Iverson is an American basketball player who began his professional career in 1996. Since then Iverson has played for various teams, including Denver Nuggets and Detroit Pistons, Memphes Grizzlies and for most of his career- Philadelphia 76ers. Despite this impressive career Allen Iverson net worth is currently estimated to be -$1 million. To put it another way- Iverson is absolutely broke.
Allen was born in New Hampton to a fifteen year old Ann Iverson. His father, also named Allen, soon left them, thus a boy was given his mother’s family name. It seems like later when Allen Iverson net worth started to grow at the speed of light, he tried to compensate his mother for all the misery she had to go through while rising Allan alone, by showering her with luxurious presents.
Allen has grown to be a problematic teenager. When he was 17 years old, he got into a huge fight in a bowling alley. According to the official version, the story began when Allen and his friends were asked to keep more quite. The group’s refusal to shut their voices soon led to the fight. It is hard to track the exact chain of event that followed, but after the fight Allen found himself being charged with striking a woman with a chair right into her head.
Iverson never admitted his guilt, but was sentenced to spend 15 years in prison nevertheless.
However, the sentence did not doom his life, nor did it ruin his career. Due to the lack of evidence in his case, a couch of Georgetown University basketball team managed to convince the court to set Allen free in 1995. Instead, Allen had to promise he would play for university team and graduate from Georgetown. That is how his career got on the right track.
After 2 seasons playing for Georgetown Allen was noticed by Philadelphia 76ers and received an invitation to play for the team. He started in 1996 with a salary of $2.2 million. By the year 2006 when Allen had his last season with 76ers Iverson’s salary has grown 8-fold. His income from playing basketball peaked at 20.8 million dollars in the season 2008-2009, when Iverson was playing for Detroit Pistons. It is estimated that during his career in NBA Iverson earned a total of $155 million for playing and received another $30-40 million from various endorsements. It seems like with this kind of income Allen Iverson net worth should be well above $100 million.
You are wondering how is it possible that Allen Iverson net worth is still below zero? Unfortunately, his story is not extraordinary among the athletes. As many of them, he has spent millions of dollars in traveling with groups of up to 50 people, showered his family and friends with presents and of course bathed in luxury himself. In the later years of the career, when Allen no longer made the kind of money he was used to, he started living in debt, taking credits and mortgages. That is a short story of how Allen Iverson went from being a millionaire to being bankrupt!