In comment 13853105
Jay on the Island said:
| that he blew through all of the 250 million that he made over his career. He would party like no other.
Reebok set up a trust fund for him for 32 million that he can't access until he turns 55. I think he may have to split that with his ex wife now, but whoever set up that up for him deserves serious credit.
"In 2001, Iverson made a decision that would inevitably save him from his future self. He signed a very unique endorsement deal with Reebok. In addition to paying $800,000 a year for life, Reebok set aside $32 million in a trust fund that Allen will not be able to access until he turns 55 in the year 2030. This deal came to light when Allenís ex-wife filed for divorce. As a result of the divorce, Allen will inherit half the trust fund in 2030."
There are crazy stories about how he blew through his money. Supposedly wouldn't pack clothes on road trips and would buy new clothes in whatever city he was in and just leave them in the hotel. Couldn't find a car once at an airport and just left it there. Kept trash bags of cash that would go missing a lot. Wild stuff.