Allen Iverson often makes to the list of the most controversial stars to ever have stepped on an NBA court. Iverson was a magician with the ball in his hands, getting the best of some of the biggest names in the league. With all the fame and popularity came big bucks from his NBA contract and endorsements. AI chose to spend a lot of his money on a barrage of high-end cars that he would park recklessly and rack up thousands in parking fines.
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A 2004 story by ESPN shed light on Iverson’s parking tickets and the fines he had racked up. During his time with the Philadelphia 76ers, Allen Iverson landed himself in some trouble with the Philadelphia Parking Authority.
AI had a total of 65 unpaid tickets for parking violations, with the total amount of fine for the tickets coming up to $4500. Iverson had these tickets building up from 2001 and decided to clear his dues three years later when records revealed that he had paid $2800 out of the total in 2004.
Iverson’s careless attitude over his parking habits almost led to his 2004 black Phantom Rolls Royce being impounded by the city of Philadelphia. AI had parked his Rolls in the handicap spot at the airport while playing overseas in the Olympics. Iverson’s Rolls racked up a total of $1700 in fines and was later moved to a different location.
The Answer was one of the best players in the league, racking up millions. But with all the money came unhealthy spending habits that ended up causing Iverson to blow through most of his net worth.
There was a time when AI could not find his parked car at the airport. Instead of looking around a bit more, the 6’3 guard left and bought a new car instead. And this turned out to be the same black Phantom Rolls Royce he parked in the handicap spot, racking up a hefty fine.
After retiring from the league, Allen Iverson fell under the players who could not keep up with their previous lifestyles in their post-NBA era. If it weren’t for Reebok and a clause he had signed with the company, AI would’ve been in much more financial trouble today.
Allen Iverson’s wild spending habits
Back in the early 2000s, Allen Iverson was at the top of the league. An undersized guard who was taking on bigger defenders on the court with a certain swagger. This made Iverson an instant hit among fans and many NBA players still credit AI for sparking an interest in basketball for them.
Throughout his career, Iverson earned around $200 million from his NBA contracts and endorsements with brands. His tenure in the NBA ended in 2010 and by 2012, AI had to file for bankruptcy.
Allen Iverson had made his life unnecessarily expensive, spending thousands on clothing, food, and even groceries. A big reason that led Iverson to go broke was his generosity towards his entourage, which would extend to 50 people on some days.
It was Iverson’s lifetime deal that he signed with Reebok which still has his head above water. AI’s deal with the brand paid him $800,000 per year after he retired from the league. Reebok also set up a $32 million trust fund that he’d be able to access in 2030 when he turns 55.
AI has now gained some wisdom when it comes to spending his money as opposed to how he was in the league back then. Iverson and Reebok came together once again in 2023 and he is now the vice president of the brand while Shaquille O’Neal plays the role of President.
