Philadelphia 76ers legend Allen Iverson is returning to Reebok along with Shaquille O’Neal. The two of them were signature athletes for the company during their illustrious playing career and will be making a return in a management capacity. While Shaq will be the president of Basketball, Iverson will be the VP, according to a report by CBS Sports.
Advertisement
The relationship between Iverson and Reebok in particular has been longstanding. After retiring in 2012, Iverson was rumored to be nearing bankruptcy after he refused to pay an outstanding jewelry bill of $860,000, according to HuffPost.
This eventually led to an offer from an Indoor Soccer League team Rochester Lancers, according to NBC Philadelphia. Iverson was offered $20,000 to play indoor football but ended up eventually refusing. Now, 11 years later, he is making a return to the company that he signed for back when he was a player.
Allen Iverson returns to Reebok 11 years after being offered $20,000 for indoor Soccer
The contract offer came at a time when Iverson was dealing with bankruptcy rumors. Rumored to be in a financial conundrum after missed child support payments and a rumored gambling problem, Iverson still refused the offer.
The contract, apart from promising him $20,000, also included a bonus stipulation of $5000 for every goal that he scored. However, he later claimed that switching from basketball would be “sad”, and ended up deciding to stay put.
Now, however, it seems as if Iverson has found himself in a new role with Reebok. He will be the Vice President of Basketball with Shaq taking the President position. According to the report, Iverson will be heading player recruitment and will also play an important role in developing the company’s grassroots-level initiatives.
Allen Iverson is the new Vice President of Reebok Basketball!
— Ballislife.com (@Ballislife) October 12, 2023
This includes various community programs, as well as his existing Iverson Classic High School All-Star initiative. Apart from a training camp for NBA prospects, Iverson also holds a yearly All-Star game for top high-school players.
The initiative is expected to now be held in partnership with Reebok. Regardless, after dealing with bankruptcy rumors, it seems as if the company has given Iverson a new lease of life, at least financially speaking.
Allan Iverson has recovered financially since 2012 bankruptcy rumors
While Iverson will be returning to Reebok in a new role, the company has already played a huge part in his financial recovery. Considered to be broke after years of problematic spending, Iverson has made a range of investments in recent years.
Reebok had apparently set him up with a business account that he cannot touch until he is 55. The account receives around $1 million in dividends every year and is currently worth $32 million, according to Yahoo Sports.
That, in addition to his $800,000 yearly payments has led to a financial recovery that saw him invest in various initiatives related to cannabis and cryptocurrency. Now, the celebrated legend is making a return to the company and appears to have completely moved on from his financial conundrum.
