Allen Iversion is a name well-known in the sports industry. However, he was not always popular for his work. Arrested at 17 years of age and charged as an adult with a sentence of 15 years in prison, Allen experienced very tough time struggling through life, especially in turning his dream into reality but nonetheless, he never gave up on his dream and that’s why he is a millionaire celebrity with a hefty net worth.
Through hard work and determination, he built his career up from the ground without the hurdles of reality pushing him down. Being a black citizen, he was at disadvantage growing up; however, this did not stop him from achieving his life-long dream of becoming one of the best basketballers in the country.
Born to a single teen mother and a father who abandoned him before he was even born, Allen got his mother’s maiden name Iversion as his last. He was always athletically gifted and played sports throughout his childhood until his career began as an NBA player, turning his life-long dreams into reality.
Allen Iversion’s net worth of $154 million would not come as a surprise for his fans who have seen his dedication to the sport and hard work throughout the years.
At Georgetown University in his second year, he led his team to the Big East Championship. The team made in Elite 8 for the NCAA tournament. This marked the starting point for his ever-green basketball career. By the time he graduated from college, his basketball career had taken wings and he ended with the title of Hoyas’ leader of all time, with a whopping average score of 22.9 points per game, which is a big achievement.
Since his graduation from Georgetown in 1996, he had been recruited by NBA into Philadelphia 76ers. This marked the true beginning of his career as a basketball player in the big leagues. He wasn’t incredibly tall for the team and became the shortest overall pick ever, standing at 6 feet tall (1.83m). However, this did not stop him from setting record high goals for his team.
During the 2000-01season, he won the MVP for the game of the All-Star game. Sixers posted a whopping 56-26 as a record for that year, which remained the best in Eastern Conference for the entire season. He also won the NBA steals title that year and was dubbed as the Most Valuable Player for NBA. Iversion became the shortest player ever to become an MVP for NBA, making his position even more prestigious in his team than ever before.
Iversion was untouchable, but during the 2001-02 season, he met with severe injuries, which limited his performance. He was able to play for only 60 games, but he still managed to keep his average for every game at 31.4 points, which was commendable but not surprising for a player of his caliber. This setback was not for long, as he came back stronger than before, winning leagues just as well as prior to his injuries.
Iversion made the nationals in 2003 as a member of the team USA for FIBA Americans Olympics Qualifying Tournament. That year the USA won all matches and had a perfect 10-10 score with a gold medal in hand by the end of the tournament. He continued to participate in the Olympics for the next three years representing the USA and making records for his country.
After a long career spanning over almost two decades, Iversion lost his heart in the play and announced his retirement in 2013. This was an incredibly saddening moment for many basketball fans, as he was one of the best players in the national team. In November of 2013, the 76ers finally said goodbye to their legendary player and bid him a farewell from the courts, marking an unforgettable date.
The majority of the earnings were from his career as a Philadelphia 76ers, which started as early as 1996. During his time on the team be made almost $98 million. Iversion earned his first big bucks when he signed with the 1999-2000 season with a contract for $70.9 million for six years. Then again, he renewed his contract for another four years with a whopping $73.5 million in the season of 2004-05. For the season of 2008-09, Iversion earned the highest annually of his entire career, with $20 million for one season, setting a record high earning for a player of his calibre.
He made a contract with Memphis Grizzlies for $3 million but found no pleasure playing for them. The contract was terminated before it was over with mutual agreement, and Iversion made $400,000 from the deal. After his short term at the Memphis, he returned to the Sixers.
He came back to the Sixers during the 2009-10 season with a partially guaranteed deal. He left the games before they were over to tend to his daughter, who was not healthy at that time. He made over $1 million that season.
The US-based Apparel Company Reebok signed with Iversion with a $50 million contract for ten years-long partnership. This deal was renewed into a life-time contract as Iversion won the NBA MVP in the 2000-01 season.
He had managed a trust fund with his earnings, which will pay him a total of $32 million when he turns 55 years old in 2030. He is currently 40 years old. However, this fund is split in half with his ex-wife after they got divorced, and she got half of his trust funds as a divorce settlement.
In total, Iversion made a whopping $200 million throughout the years as a professional basketball player. A legend on the field, he was desired by every club out there.
Right now, shockingly, the man is worth only $1 million after his 17 years long career as a professional basketball legend. He earned enough to last him several lifetimes but ended up with only a million when he retired and stopped most of his work.
The question would make everyone scratch their heads of how a man loses so much in such a little time. The answer, however, is quite simple and straight forward, uncontrolled expenditure.
Iversion led an extremely luxurious life, rightly so; he was ruling the courts. It was only justified that he lived like a monarch. However, like a monarch, he didn’t have an endless supply of money from his subjects; instead, the money started disappearing once he stopped signing those multimillion-dollar contracts.
Fortunately for Allen, he signed a lifelong deal with Reebok, which pays $800,000 annually and his earnings per month are a little over $62,000. Combined, he has his bills covered, and he also has his $16 million waiting after he turns 55 in a few years.
All of the information above has been gathered from the following sources:
I’m Ava Paul, an experienced news website author with a special focus on the entertainment section. Over the past five years, I have worked in various positions of media and communication at World Stock Market. My experience has given me extensive knowledge in writing, editing, researching and reporting on stories related to the entertainment industry.
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