Source: (Photo by Kevin Mazur/Getty Images) / (Photo by Kevin Mazur/Getty Images)
Allen Iverson caught a blessing that would help him for the rest of his life.
It has been reported that Allen Iverson was broke. A judge order the former NBA MVP to pay more than $850,000 to a jewelry store for goods received. However, reporter Peter Vecsey detailed how Iverson’s finances are under control because someone in Iverson’s inner circle was a true friend.
A person with a firm grip on the situation informs me Iverson has an account worth $32 million, a principal he is prohibited from touching until 55. In the meantime, it feeds him $1 million annually.
At 45, Iverson is eligible to start drawing on an NBA pension that maxes out at 10 years of active duty, or take whatever’s there as lump sum. He will be entitled roughly to $8,000 per month ($800 per x 10).
If at all possible, Iverson will issue a restraining order against himself until he’s 62 or so. At that time, I’m told, his lump sum will be between $1.5 million and $1.8 million, or he can elect to take monthly checks of approximately $14,000 per.
It is always a blessing to have smart friends around you to look after you when you don’t know that you need it.
Source: NBC Sports – ProBasketballTalk
