Allen Iverson built a career off flashy crossovers and his underdog mentality. He won a regular season Most Valuable Player Award, along with taking the modestly talented Philadelphia 76ers to the 2001 NBA Finals to get crushed by Shaq and Kobe’s Los Angeles Lakers.
Along the way, Iverson never picked up a championship, but he made nearly 200 million dollars through contracts and endorsements as his image began to cement. However, as Father Time caught up to him, the contracts became shorter and smaller.
Nonetheless, Iverson spent his money carelessly. He used it to purchase gifts for his friends and family and also fell into bad habits. He reportedly kept money in garbage bags around his mansion, some of which went missing. At one point, he bought a new car because he forgot where he parked the old one at the airport.
Eventually, Iverson was out of the NBA’s main league, scraping together G-League appearances and indoor soccer tournaments in Turkey to make ends meet.
Iverson’s money problems became inflated in the public eye after he could not pay a court-ordered $859,896.46. His monthly expenses totaled nearly $360K, although in 2012, he brought in only $62.5K each month.
Once the flashiest player in the league, Allen Iverson had become synonymous with wasted potential and high hopes that were not realized. He became a broke baller in the eyes of many. Even hip-hop artist Post Malone took note: “I need that money like that ring I never won.”
However, that perception is somewhat detached from Iverson’s real-life situation.