Hammer famously went from the top to the bottom in the 1990s, but Iverson has been a top tier NBA star from the mid-1990s into the mid-2000s, reportedly earning more than $154 million … just from his professional basketball career.
However, his finances these days are not so good.
Iverson was ordered to pay a jeweler nearly $860,000 by a Georgia judge last year, but couldn’t pay up. So, the same judge ordered that his bank account be seized in January and the money he has left be garnished to pay back the debt.
So, after making over $154 million during the course his NBA career, not counting endorsements and other business deals, how could the once predominant star be broke?
Yahoo! Sports blogger, Ben Maller, recently explained…
Iverson was known for traveling with one of the biggest entourages in professional sports, employing a full-time hair stylist while on the road, and bringing as many as 50 people for some 76ers home games. On top of that, he also loved to buy jewelry for himself regularly, and treat his mother with expensive gifts as well.
He once said his childhood friends in Virginia “made” him, so he felt obligated to remain loyal and take care of … all of them. According to Yahoo, Iverson felt that without his friends protecting him from the streets growing up, he may have never made it to the NBA.
Apparently, that loyalty to everybody also broke him … and now, may never see the money he once had.
Over the summer, following a 10-game stint in Turkey, Iverson said he was determined to return to the NBA. Despite rumored interest from the Lakers, he has yet to receive any offers … and may have to settle for playing outside the U.S.