Iverson Turns Down the Lakers

[TheMan]

Doubt he's hurting for money? U forget he's a uneducated hood nigga?

5- Allen Iverson - Basketball
Sponsor: Reebok
Estimated Value: $5 million a year (lifetime)

After Allen Iverson first signed with the Sixers, he put his signature on a 10-year, $50 million contract with Reebok. In November 2001, he got a lifetime extension on that deal. Terms of this deal weren't disclosed. His signature shoe, "The Answer," was among the top sellers in America. Reebok rebuilt its basketball and clothing lines around him.

Forbes estimates that Iverson made $19 million between June 2002 and June 2003. His 2002-'03 salary was $12.7 million, or about two-thirds of his total income. The initial Reebok deal was worth $5 million a year. Apparently, that annual payout is guaranteed for life. With that in mind, the Reebok check accounts for 26% of his annual pay.

[JMT]

And none of your easily attainable and readily available links have any relevant information about Iverson's finances. What else do you not know? You don't know:
1. How much people (even wealthy people) pay out for child support.
2. How much his divorce would cost him (and I doubt you even know where this divorce would take place).
3. How much Iverson spends.
4. How much Iverson makes per year.

Well, the divorce was filed in an Atlanta, Ga court. That's why it's pertinent that the Ga judge froze his bank account after he failed to make payment on an $860,000 debt to a jeweler (in itself a great example of good money management) in order to garnish whatever liquid assets remain. Any lavish spending is a huge issue where a pending divorce is concerned.

Child support? [I]As of Jan. 1, 2007, Georgia adopted statute O.C.G.A.

[Kevin_Gamble]

[QUOTE=JMT]Well, the divorce was filed in an Atlanta, Ga court. That's why it's pertinent that the Ga judge froze his bank account after he failed to make payment on an $860,000 debt to a jeweler (in itself a great example of good money management) in order to garnish whatever liquid assets remain. Any lavish spending is a huge issue where a pending divorce is concerned.

Child support? [I]As of Jan. 1, 2007, Georgia adopted statute O.C.G.A.

[JMT]

You could've just said "Yeah, you are right. I know nothing."

Leaving that for you, Skippy.

[Hammertime]

You could've just said "Yeah, you are right. I know nothing." But if a long, drawn out response makes you feel like you've saved face, nothing wrong with that.

So, by all means then, go ahead and tell us why you believe that Iverson is doing just fine and will buck the trend of more than half of NBA players going broke within a decade of retiring. Since you seem to have much better info on this than anyone else, evidently.