Allen Iverson took the basketball world by storm when he was drafted 1st overall in the 1996 NBA draft. His consistent scoring meant that the Philadelphia 76ers became championship contenders soon after. Known for his gameplay on the court and his trademark cornrows off-court, “the Answer” revolutionized the game. On Netflix’s ‘Colin in Black & White,’ Colin Kaepernick, the former NFL quarterback and civil rights activist, revealed that as a child, he wanted to get a hairstyle just like his idol Allen. Through a playing career of over a decade, Allen signed contracts worth millions. So, let’s find out what he’s worth today, then, shall we?
How Did Allen Iverson Earn His Money?
Allen Iverson was a standout prospect coming out of high school but ran into trouble as a 17-year-old when he was arrested for a brawl at a bowling alley. After being sentenced to 15 years initially, Allen was granted clemency in four months and was out of prison. His conviction was overturned in 1995. He then had to finish his senior year at a school for at-risk youth. Nevertheless, the talented player was recruited by John Thompson, the basketball team coach at Georgetown University in Washington DC.
Allen had a productive two years there, leading the team to the Elite Eight round of the NCAA tournament. He then declared for the NBA draft and was selected by the 76ers with their first overall pick. Allen won the Rookie of the Year award by averaging more than 23 points a game. Despite that, the team ended their campaign with a losing record but promised a better future.
In his third season, the 76ers made the playoffs and became regular playoff contenders after that. In 1999, Allen signed a six-year, $70 million contract. Just two years later, he was named the MVP of the league, and Philadelphia made a trip to the NBA finals on the back of his performances. However, Allen was not without his troubles off-court.
The prolific scorer also had a lucrative endorsement deal with Reebok. After signing a ten-year, $50 million contract in 1996, Allen signed a lifetime extension that bagged him $800,000 annually and came with a trust fund worth $32 million that he can access in 2030 when he would be 55-years-old. After his retirement, there were rumors about Allen going broke and deep in debt. However, he addressed them in 2015 by saying, “That’s a myth. That’s a rumor. The fact that I’m struggling in any part of my life.”
Allen Iverson’s Net Worth
Allen made close to $200 million during his playing career that included his salary and endorsements. However, his present net worth is estimated to be around $1 million.
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