A person with a firm grip on the situation informs me Iverson has an account worth $32 million, a principal he is prohibited from touching until 55. In the meantime, it feeds him $1 million annually.
At 45, Iverson is eligible to start drawing on an NBA pension that maxes out at 10 years of active duty, or take whatever’s there as lump sum. He will be entitled roughly to $8,000 per month ($800 per x 10).
If at all possible, Iverson will issue a restraining order against himself until he’s 62 or so. At that time, I’m told, his lump sum will be between $1.5 million and $1.8 million, or he can elect to take monthly checks of approximately $14,000 per.
The $32 million is known as the “Reebok fund” among Iverson’s friends, because the money came from shoe deals.
Now, living with in those means may be a challenge for Iverson. But someone had the foresight to protect the man from himself, and that is going to save him. That is what a true friend does.
Report: Kyle Lowry’s Philadelphia area home was burglarized by jewelry heist ring
Kyle Lowry is a gold medalist from Rio and a Toronto All-Star (and should be again this season), but at heart he is a Philly guy. He was born and raised in Philadelphia, and went to college right there at Villanova. He still has a home in the area.
A multi-million dollar jewelry burglary ring is cracked in the Delaware Valley as investigators are trying to recover all the jewels stolen from victims, including an NBA star player….
The Main Line home of Toronto Raptors’ Kyle Lowry was hit, police sources said.
Responding to an email from CBS3, a spokesman for the Raptors said Lowry, a former Villanova basketball standout, politely declined comment for this story.
Lowry was far from alone in being targeted, and a couple of people who fell victim to the ring lost more than $500,000, according to the report.
The crew had ties to a shop on “Jewelers’ Row” in the city, which served as a front for the ring tried to move millions of dollars in stolen jewelry, according to the report. Wasim Shazad, the owner of the shop, was arrested but is now out on bail as he moves through the legal process.
NBA: Timberwolves got away with defensive three-second violation on pivotal stop in win over Nuggets
To the delight of the Trail Blazers, Pelicans, Kings, Timberwolves themselves and any other Western Conference team with playoff designs, Minnesota knocked off the eighth-place Nuggets on Sunday. Denver is now just a half game up for postseason position.
But perhaps the Nuggets would have more breathing room if the game featured correct officiating down the stretch.
Towns (MIN) is in the paint without actively guarding an opponent for longer than three seconds.
Towns is clearly matched up with Nikola Jokic, but the rules require Towns to be “within arms length of an offensive player and in a guarding position.” Towns is playing too far off Jokic to qualify.
Danilo Gallinari got away with travelling one second later, but a correct call would’ve stopped play and given any Denver player on the court – likely Gallinari, who’s shooting 89% from the line this season and 86% – a single free throw. Then, the Nuggets would’ve taken the ball out of bounds with a fresh chance to score.
Instead, with Towns covering the paint, Minnesota forced a miss and grabbed the defensive rebound. Denver began intentionally fouling, and the Timberwolves escaped with a 111-108 win that altered wide-open chase for the No. 8 seed in the West.
Pistons-Kings game delayed for smoke over court (video)
LeBron delivered, softening the point everyone amplified (that he wants roster improvements) and emphasizing the point that got overlooked (that he’s on board with Cleveland general manager David Griffin):
I not mad or upset at management cause Griff and staff have done a great job, I just feel we still need to improve in order to repeat…