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(ThePostGame)   The latest superstar athlete to go broke is   (thepostgame.com) divider line 77
    More: Dumbass, Allen Iverson, ThePostGame, NBA All-Star, superstar  
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6682 clicks; posted to Sports » on 15 Feb 2012 at 12:35 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-02-15 09:11:46 AM
These guys must have some money hidden somewhere. I don't believe, when their domestic bank accounts are seized and emptied, that these guys don't have a stash somewhere they are keeping quite about.
 
2012-02-15 09:20:51 AM

SlothB77: These guys must have some money hidden somewhere. I don't believe, when their domestic bank accounts are seized and emptied, that these guys don't have a stash somewhere they are keeping quite about.


Start believing.
 
2012-02-15 09:44:18 AM
I'm shocked, shocked I tell you, that if you give an idiot money he will lose it all.
 
2012-02-15 10:04:49 AM

SlothB77: These guys must have some money hidden somewhere


TFA recently ordered to pay over $860,000 to a jeweler

Diamonds are a ballers best friend. He needs to get over to the pawn shop quick!
 
2012-02-15 10:18:40 AM
Well he probably would have lost the money a lot sooner if he hadn't been banned from Detroit casinos (new window)
 
2012-02-15 10:22:21 AM
We're talking about bankruptcy man. Bankruptcy. We're not talking about savings, we're talking about bankruptcy. Bankruptcy. You guys know me, when it comes to time to save money, you know I show up. But we ain't talking about that, we're talking about bankruptcy, not saving, bankruptcy. Psssshhh.. Bankruptcy.. not savings, bankruptcy. C'mon man, bankruptcy. We're talking about bankruptcy. Not savings.... bankrupcty
 
2012-02-15 10:41:59 AM
I hate that guy.
 
2012-02-15 11:13:38 AM
My hero! Really, errrr okay, not so much.
 
2012-02-15 11:21:08 AM
He should have practiced more.........practice.......practice........we in this thread talking about practice.........It aint about that.......I suppose to be the franchise player and we in here talking about practice.......not the game......we talking about practice man.........what are we talking about.....practice man.......practice........it's practice man........
 
2012-02-15 11:44:18 AM
The latest superstar athlete dumbass to go broke is

fixed that for you subby
 
2012-02-15 11:46:27 AM
This seems to be another example of when keeping it real goes wrong.
 
2012-02-15 12:24:57 PM
And all you geeks kept telling me AIs were smart!
 
2012-02-15 12:38:47 PM
How is he supposed to make his financial situation better by practicing fiscal responsibility?
 
2012-02-15 12:42:00 PM
I understand when it happens to a 20-something who got one big deal but didn't pan out. But how do guys like Iverson, with multiple mega-deals, and agents who have seen it all happen time and again... how do they not start setting themselves up for the future at, say, thirty years old?
 
2012-02-15 12:42:29 PM
Despite rumored interest from the Lakers, Iverson is more likely to find playing time and (more importantly) cash outside the NBA in a place like Puerto Rico.

puerto rico? theres no money there. just rice, beans, and pretty women.


pretty "crazy" women
 
2012-02-15 12:43:47 PM
Oh, how sad. No, really, I'm so sad for him. This is a tragedy. Won't someone think of the superstars?
 
2012-02-15 12:46:54 PM
time get back to the streets Ai, they always knew you would come home
 
2012-02-15 12:47:06 PM
I'm sure his posse who he gave all that money to will reciprocate his generosity.

/Right?
 
2012-02-15 12:48:37 PM

SlothB77: These guys must have some money hidden somewhere. I don't believe, when their domestic bank accounts are seized and emptied, that these guys don't have a stash somewhere they are keeping quite about.


That would require forethought, and the belief that you were not going to be making $20 million a year for the rest of your life.

It's sad, but hopefully it's also a warning to some of the young stars in the league today, who by and large seem to have their heads on straighter.

$860k at a jeweler. Cripes, even if you get paid $20 million in a year, that's probably like 5-7% of your overall take-home. Even if I had that much money, I'd feel bad dropping $5k for a nice watch.

/In-house arcade, on the other hand...
 
2012-02-15 12:58:26 PM
Why can't these guys just get their heads on straight and put half of their take-home money into a trust fund for themselves? IIRC, Dennis Rodman was in serious financial trouble and his accountant put him on a strict $2000/week "play money" budget. He wised up fairly quickly.
 
2012-02-15 12:59:39 PM

Red Shirt Blues: He should have practiced more.........practice.......practice........we in this thread talking about practice.........It aint about that.......I suppose to be the franchise player and we in here talking about practice.......not the game......we talking about practice man.........what are we talking about.....practice man.......practice........it's practice man........


He shoulda practiced more financial discipline...practiced responsible saving...practiced controlling impulse spending...etc
 
2012-02-15 01:05:50 PM
somewhat relevant: The Onion (new window)
 
2012-02-15 01:12:22 PM
Never gets old.
 
2012-02-15 01:14:25 PM
badgals-radio.com

Disapproves.
 
2012-02-15 01:15:12 PM

JohnBigBootay: I understand when it happens to a 20-something who got one big deal but didn't pan out. But how do guys like Iverson, with multiple mega-deals, and agents who have seen it all happen time and again... how do they not start setting themselves up for the future at, say, thirty years old?


They think it will continue. They're getting their asses kissed on a daily basis and become completely detached from reality. They don't understand that they just got a good deal, they believe they have become 'successful' and don't need to really work anymore to keep that level. And at the end, they still go down thinking that. They equate success with some kind of permanent state that is never, ever the case.
 
rka
2012-02-15 01:22:47 PM

JohnBigBootay: I understand when it happens to a 20-something who got one big deal but didn't pan out. But how do guys like Iverson, with multiple mega-deals, and agents who have seen it all happen time and again... how do they not start setting themselves up for the future at, say, thirty years old?


Because every one of their "advisers" and "agents" are guys from the hood where they grew up.

And they ain't exactly minting MBA's in the mean streets of Hampton VA (A.I.'s hometown). Street smarts only takes you so far.
 
2012-02-15 01:28:57 PM
The $154m figure doesn't even figure in all the endorsement money he made during his career. That's just straight-up NBA salary, so you have to think he squandered millions more.
 
2012-02-15 01:29:02 PM
His Financial Advisor
www.nypost.com
 
2012-02-15 01:31:02 PM

Peter von Nostrand: We're talking about bankruptcy man. Bankruptcy. We're not talking about savings, we're talking about bankruptcy. Bankruptcy. You guys know me, when it comes to time to save money, you know I show up. But we ain't talking about that, we're talking about bankruptcy, not saving, bankruptcy. Psssshhh.. Bankruptcy.. not savings, bankruptcy. C'mon man, bankruptcy. We're talking about bankruptcy. Not savings.... bankrupcty


Done in six.

/+1
 
2012-02-15 01:39:47 PM
This takes a little while to get going, but I think it's apt.

Josh Fenderman (new window)
 
2012-02-15 01:43:47 PM
Allen Iverson Has No Answer For Financial Woes

Try living on what I do, jackass.
 
2012-02-15 01:56:44 PM

lilbjorn: Allen Iverson Has No Answer For Financial Woes

Try living on what I do, jackass.


Seriously they make more then proabably any 10 farkers will in their lifetimes and manage to blow it all in a few years. I really dont have much sympathy for people like that. I have even seen sales people at work do stuff like that blow all their money on crap during the flush times and almost starve through the rough times. Just glad I had money sacked away when that pipe burst last month.
 
2012-02-15 01:59:44 PM
I totally just guessed "some black guy" before even clicking!
 
2012-02-15 02:15:52 PM
Couldn't have happened to a better idiot.
 
2012-02-15 02:19:58 PM
Joe Dumars proved 2004 was a fluke by trading Chauncey Billups for this corn rowed dumb ass...
 
2012-02-15 02:20:09 PM
That's called 'the mc hammer' effect.
 
2012-02-15 02:22:52 PM
I once had the displeasure of meeting Iverson and his "posse" when he played for the Nuggets. Fark that guy and I'm glad he is broke. Bwahahahahahahahaha!
 
2012-02-15 02:29:24 PM

Ow! That was my feelings!: I once had the displeasure of meeting Iverson and his "posse" when he played for the Nuggets. Fark that guy and I'm glad he is broke. Bwahahahahahahahaha!


Do tell...

/also in the 303
 
2012-02-15 02:29:39 PM
A gambling addiction will ruin any fortune.

And of course it's a lot easier to be rich when all your friends and family are rich and not begging you for money.
 
2012-02-15 02:30:15 PM
Maybe Larry Brown will adopt him now...
 
2012-02-15 02:30:24 PM
Ok, but is he Martha Stewart broke or MC Hammer broke?

*reads the article*

Oh...MC Hammer broke.

Idiot.
 
2012-02-15 02:31:54 PM
Now I know that I'm supposed to lead by example and all that but I'm not shoving that aside like it don't mean anything. I know it's important, I honestly do but we're talking about financial responsibility. We're talking about financial responsibility man. We're talking about financial responsibility. We're talking about financial responsibility. We're not talking about the game. We're talking about financial responsibility. When you come to the arena, and you see me play, you've seen me play right, you've seen me give everything I've got, but we're talking about financial responsibility right now.
 
2012-02-15 02:42:13 PM
I don't know any franchise players that bounce a check. I don't know any Olympian that bounces a check. I don't know any All-Star that bounces a check. I don't know any former MVP that bounces a check. I don't know any three-time scoring champion that bounces a check. "I don't know any first team All-NBA that bounces a check. Why Allen Iverson? Why should I bounce a check? I think it is an insult to me. Who I am as a player, who I am to this organization, who I've been to this organization, that's an insult to me to bounce a check if I'm a starter."

/Protip: basketballs and checks bounce.
 
2012-02-15 02:46:55 PM
Making the association is like winning the lottery. People of all races don't do well with instant wealth, but there are more black people in the nba than other races.
 
2012-02-15 03:00:44 PM
There are only a few players that I can think of that are more hated than AI.
 
2012-02-15 03:05:11 PM
Read something yesterday that talked about how he would have as many as 50 people in his posse at any given time.

I'm sure they will pass the hat now and help him out.
 
2012-02-15 03:17:09 PM

The Gordie Howe Hat Trick: Ow! That was my feelings!: I once had the displeasure of meeting Iverson and his "posse" when he played for the Nuggets. Fark that guy and I'm glad he is broke. Bwahahahahahahahaha!

Do tell...

/also in the 303


Had dinner with friends and some bizness associates at the Chophouse back, whenever (07?). In comes Iverson and posse and we get kicked off our tables so Iverson and his crew could be accomodated. Yeah, they paid for our meals and opened a tab for us, but seeing the "Imperial Iverson" in all his spendlor made me think of Tony Soprano. Some people are just better than you, or so they think.
 
2012-02-15 03:20:56 PM
I bartend in W Philly. Dudes told me 2 years ago Iverson lost over 5 mill in dice. No one could believe it. 5 mil? Had to be a made up story right?
 
2012-02-15 03:28:13 PM

torr5962: I bartend in W Philly. Dudes told me 2 years ago Iverson lost over 5 mill in dice. No one could believe it. 5 mil? Had to be a made up story right?


i50.photobucket.com
 
2012-02-15 03:33:13 PM
It has probably already been said, but he should have practiced saving his money better.
 
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