Allen Iverson now broke.

[dennilfloss]

Poor guy only earned $154 millions during his career (and that's only his salary, not endorsements...).

http://www.thepostgame.com/blog/dish/201202/allen-iverson-has-no-answer-financial-woes

 

[Krazy4Real]

Iverson traveled with one of the biggest posses in professional sports. Bill Lyon of the Philadelphia Inquirer says the group has as many as 50 people for some Sixers home games.http://www.thepostgame.com/blog/dish/201202/allen-iverson-has-no-answer-financial-woes

Wow... just wow.

 

[lothar]

I read about this two days ago on yahoo news and laughed.

 

[QueBert]

One of his problems was he was far too nice and wanted all his family and childhood friends to have everything they wanted. A lot of them ended up sucking him dry. I wonder if any of the many people he bought a house and a nice ass car for are offering him help him now? I somehow doubt it.

 

[Via]

Hey - the guy lived like a billionaire for 15 years. Unfortunately for him he was only a multimillionaire.

But if someone gave me the choice of living like that for 15 years and then having everything taken away to start over from scratch I would say yes in a heartbeat.

 

[dennilfloss]

Almost 80 percent of National Football League players are flirting with bankruptcy two years after they retire, according to Sports Illustrated. NBA players aren’t faring much better. 60 percent of former National Basketball Association players end up broke within five years of retirement.

Wow...

http://sports.yahoo.com/top/news?slug=ys-investopediamoneyloss031010

 

[OutHouse]

When he came to denver all tv sport casters had a raging boner every time they got to mention his name while showing Nuggets highlights.

i dont follow the NBA so i never understood what the big deal was. I would compare the euphoria about Iverson becoming a denver nugget to Jesus Christ joining the team.

 

[dennilfloss]

From a thread on a sports forum:

Lol

Charles Barkley said the first thing athletes who come into money is to learn the word "no", and the second is to hire an accountant, and a lawyer and make sure that they hate each other.

Sad...

I have a friend that is a trainer for the New York Giants. He says, by the time training camp comes around a lot of these guys are DIEING for paychecks..... they get the majority of there money during the season, and they spend it too.... he said it wasn't just the bottom guys either, guys who make big money are the same way.....

 

[bolomite]

did Tawanna tell you dat?

 

[foghorn67]

From a thread on a sports forum:

Lol



Sad...

Funny world where Charles is the smart one.

 

[Pocatello]

What's the deal with athletes and their obsession with expensive jewelry?

 

[oogabooga]

Wow... just wow.

I can't even imagine what all 50 of them would do, how they'd even try to justify their position in the entourage.

 

[SonicIce]

 

[0roo0roo]

3 mill per posse..

 

[Soundmanred]

MC Hammer Syndrome

 

[Whoozyerdaddy]

60% of NBA players are broke within five years after they retire.

http://wisdomandfollyblog.com/2010/09/10/the-bankruptcy-plague-among-professional-athletes/

78% of NFL players...

You can take the kid out of the ghetto...

 

[ch33zw1z]

Too bad he wasn't a mathlete as well

 

[hclarkjr]

it always amazes me how these athletes get all this money then end up broke at the end of their careers. you would think they have seen it happen often enough to not let it happen to them.

 

[Soundmanred]

it always amazes me how these athletes get all this money then end up broke at the end of their careers. you would think they have seen it happen often enough to not let it happen to them.

People don't learn from other people's mistakes.
See: smoking/tobacco use, drugs, every other harmful behavior ever.

 

[Sureshot324]

it always amazes me how these athletes get all this money then end up broke at the end of their careers. you would think they have seen it happen often enough to not let it happen to them.

A lot of the money they lose isn't just cars/jewelry/etc., but from bad investments. These guys are constantly bombarded with proposals to invest in shady businesses and it's very easy to sink millions into a badly run business.

 

[Wyndru]

One of his problems was he was far too nice and wanted all his family and childhood friends to have everything they wanted. A lot of them ended up sucking him dry. I wonder if any of the many people he bought a house and a nice ass car for are offering him help him now? I somehow doubt it.

Maybe Tracy Morgan and Jay-Z have it right, forget your family and charities, don't give them shit. Once people get money from you they just keep wanting more.

 

[WT]

Money .... we talkin' bout money .... money, man, not a game, not a game ...... money. Zat what we talkin' bout ??? We talkin' bout money.

http://www.youtube.com/watch?v=6_of3QWRs_I

Enjoyed watching AI when he was at Georgetown, but after he left early I gave up on college ball. Guess those extra years of college would've helped .... or not.

 

[CPA]

One of his problems was he was far too nice and wanted all his family and childhood friends to have everything they wanted. A lot of them ended up sucking him dry. I wonder if any of the many people he bought a house and a nice ass car for are offering him help him now? I somehow doubt it.

far too nice? Remember he started a riot at a bowling alley.

Maybe he was far too vain.

 

[GTaudiophile]

Wow...

http://sports.yahoo.com/top/news?slug=ys-investopediamoneyloss031010

Damn! You'd think there would be a market for some good-old-fashioned, honest financial planning for these people.

 

[tboo]

Its about practice