According to a New York Post report, rumors of ALLEN IVERSON being busted and broke are unfounded. Post columnist PETER VECSEY (yeah…the NBA’s Snoop Dog because when it comes to ball players, no one’s more nosy than this guy) claims he has firm knowledge that Iverson is in fact financially healthy, with a bank account worth well over $32 million.
According to Vecsey’s source, someone within Iverson’s camp was forward-thinking enough to set up the former NBA star with a trust fund. Iverson is prohibited from touching this money bag until age 55, or roughly eighteen years from now. In the meantime, he is allowed an annual allowance of $1 million.
On top of that, AI will be eligible to start drawing on an $8,000 per month NBA pension fund at age 45, or less than a decade from now.
So recently being garnished of over $859,000 for an unpaid jewelry bill by a Georgia judge apparently isn’t going to effect Iverson’s bottomline at all.
His issue is more about being blackballed by the NBA than about being broke and busted, apparently.