Posted on 12/10/2012 11:33:21 AM PST by SeekAndFind
It's been less than a year since we learned former NBA star Allen Iverson was broke, despite a $150 million career.
Now we know why.
TMZ has obtained court documents from Iverson's ongoing divorce proceedings that clearly show a man drowning in debt.
Though he still earns $750,000 per year, Iverson is bleeding an estimated $360,000 each month.
About a third of his debt is owed to creditors –– his bank account was seized last year when he couldn't come up with $860,000 he owed to a jeweler –– and another chunk goes to his mortgages.
But there are a few creature comforts, too, "like $10,000/month on clothes, $10,000/month on grocery/house items, $1,000/month on dry cleaning, $5,000/month on entertainment, $5,000/month on restaurants," according to TMZ.
On top of that, his $4.5 million Atlanta mansion is in foreclosure. At least he can drive to and from court in style –– Iverson reportedly kept his Maybach, which he paid off before all of the money drama.
He's not the first NBA multi-millionaire star who has fallen from grace.
(Excerpt) Read more at businessinsider.com ...
“impulse control” is old white people racist talk
Or a boat.
Buddy of mine has one. Says that next time, he's going to just dig a hole in his back yard and throw money into it...would be faster and cheaper.
also known as a pool.
A normal, fiscally sane older person could just about retire on that amount--or at least invest it wisely.
AI--- Absolute Ignoramus--but oh well.
AI was released from Prison in Va. via the Governor’s pardon. He was in Georgetown within days on a full ride. never attended anything remotely near a class. Left school early to make the big bucks. Several arrests and many more arrests were “bought off”. His Posse pulled guns on another players Posse while at a 76ers practice. All should have gone to prison. He gets what he deserves. Nothing!
He’s still a 1 percenter.
Go get ‘em Baraq!
“Or a boat”. You got that one right. I live just a few miles from the Mississippi within sight of one of the main routes to a major boat ramp. I wish I had a fraction of the money I see going by on the weekend. I strap my kayak on top of the Jeep and go the other direction.
At least he paid off the car.
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You can sleep in your car ,, you can’t drive the house.
You can also,be buried in your car, which looks to be why he bought it.
Ha, that's what I was thinking. I figure about $300 a pop.
I have a customer, who is in the midst, of getting a multi-colored dragon on his whole arem. His is costing about $3500 CAN.
You mean that “impulse control” that allowed white people to build America?
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