Report: Allen Iverson is not broke because a friend was smart


Someone in Allen Iverson’s inner circle was a true friend to the man.

We reported recently on a judge ordering Iverson to pay more than $850,000 to a jewelry store for goods received, and the judge needing to go into his bank account and get what they could.

If that happened to you or me, it’s a sign that we’re broke. There have been a lot of reports Iverson is busted. That is why he is willing to play in Puerto Rico or the D-League.

But like I said above — and as Peter Vecsey laid out in detail in the New York Post — someone in Iverson’s inner circle was a true friend. Someone recognized if just given the money he would burn through it, so…

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.

Bradley Beal drives around, dunks over Kristaps Porzingis (VIDEO)

1 Comment

If you’re a Knicks fan, the positive is that at least Kristaps Porzingis tried to make a play.

But he was not going to stop the athletic Bradley Beal with a full head of steam, and the result was a Beal dunking over Porzingis as he tries to block the attempt.

Beal wasn’t sharp, scoring 12 points on 5-of-14 shooting. The Knicks has an efficient Carmelo Anthony and that got them the win.

Carmelo Anthony drops 21 on Wizards in preseason Friday

Leave a comment

We had an efficient Carmelo Anthony sighting in the preseason.

Anthony and the Knicks went up against the Wizards and ‘Melo hit 10-of-15 shots to score 21 points. He also had four rebounds and four assists.

Derrick Williams had 23 points on 11 shots to lead the Knicks in scoring, and New York won 115-104.