The Tragedy Of Allen Iverson

[jlip]

Don't know if this has been posted already. If so, mods, please delete. I did find it to be a rather interesting read.


The Tragedy Of Allen Iverson
"MILWAUKEE - JANUARY 27: Allen Iverson #3 of the Philadelphia 76ers looks on from the bench during the game against the Milwaukee Bucks on January 27, 2010 at the Bradley Center in Milwaukee, Wisconsin. The Bucks won 91-88. (Photo by Gary Dineen/NBAE via Getty Images)

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By Bomani Jones - Contributor

After a judge garnished Allen Iverson's bank account to pay a debt, it became clearer that his tragedy is coming full circle. And that's heartbreaking to someone who grew up at the peak of his stardom.

Jan 31, 2012 - From the second the NBA left Allen Iverson, I wondered what in the world he would do without basketball. It seems "paying his bills" wasn't on his to-do list.

The gumshoes at TMZ say Iverson's bank account has been garnished to pay an exorbitant jewelry bill. Per American custom, that's brought out snickers and finger wagging. Iverson made over $150 million, according to basketball-reference.com. Now, he's 36-years-old and can't even come up with the money to pay for bling he's too old to wear.

People laugh when rich folks struggle. In this case, I see two levels of tragedy. There's the predictability of it all. Even the best adjusted athletes have a million factors to fight when their careers are done, from divorces to simply trying to fill the hours of each day without practices and games. Plus, athletes, figurative lottery winners, are like the literal ones -- they often find a way to blow all their cash..."

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[Shepseskaf]

A "tragedy"? More like someone who didn't appreciate the money he was making while playing a game and wasted most of it.

How can someone earn over $100 million and then end of broke a few years after the paychecks stop. Just dumb.

[AMISTILLILL]

Iverson deserves everything he gets. Living a lofty lifestyle came back to bite him in the ass... a lifestyle he may have been able to perpetuate had he deferred to the will of coaches and played team ball. Instead, he's wound up exactly where he belongs.

Anybody who feels sorry for this guy must also feel sorry for those corporate executives taking Caribbean vacations on government bailout money.

[oh the horror]

Why would you buy that jewelry if you werent going to pay for it immediately?

Or, why buy sh*t like that at all?


Jesus christ, some of these players....

[DMV2]

I'm betting it cost him a quarter to a half million a year on house maintenance alone for his $5-$10 million dollar mansion. Personal butler, housekeepers, bodyguards, etc... (just a general opinion on rich athletes and celebrities, I don't really know Iverson's lifestyle but I'm guessing he was spending carelessly if he's lost 150 million)

Then add 10-15% fee to his agent, some money for his homeys, a dozen or so cars and motorcycles, etc...

Some people would rather spend carelessly just to show off their rich and famous status instead of budgeting their income wisely.

[The Iron Fist]

The thing is, these athletes don't realize that they really aren't wealthy to sustain that type of lifestyle unless they make great business decisions.

They get a large lump of money, and then go off and show the world.

A smart man doesn't even want you to know he has money. A smart man doesn't even talk about his money.

Many of these athletes, aren't really all that smart. They just play sports better than most.

[zay_24]

Well I mean 100 million isn't a lot of money today.

[RaininTwos]

I'm not gonna make any judgements because I've heard so many stories of accounts and such basically robbing players.

[FireDavidKahn]

Well I mean 100 million isn't a lot of money today.

Yes it is.

[Poodle]

not surprised at all AI can't manage his money. i also get a lot of wealthy before the recession lost a lot of investment money probably, but it just seems like such a weak scapegoat to cover the stupid expenditures or stupid stuff they've done. most of them got baby mama's and child support payments too. thing is tho i think a lot of them have a good amount of hidden money like cash somewhere where they can file bankruptcy to get rid of the debts, and live on cash for a good while. i swear when most filthy rich end up having financial issues they somehow keep living lavishly.

[v1ncelis]

How is Latrell Sprewell doing? I heard he had hard time feeding his family back in 2005 ...

[IGOTGAME]

I just don't understand how some of these athletes can be so dumb. I will never get it, especially a guy like AI that came from a poorer background. You know how bad things can get and you still act stupid. What an ignorant man.

[senelcoolidge]

It's silly that Iverson did not want to be a reserve in the NBA, I guess hasn't realized he's way past his prime. He could still make great money coming off someone's bench. Oh well.

[millwad]

Don't these guys have any financial advisors or anything? The guy's not even retired yet and already he's short of money after making way more money then what his paycheck at basketball-reference shows, which is more than 150 million dollars.. Just think about the money he got from shoe deals, commercials etc..

This fool will probably live on the streets in a couple of years..

[AMISTILLILL]

It still blows my mind this guy can't find an NBA team to play for. You're telling me the Charlotte Bobcats can't throw this guy the MLE to toss 15 PPG up and put asses in the seats?