We had this same discussion a couple years ago.
When Allen Iverson was playing in Turkey, a report came out of Philadelphia about how Iverson was just hemorrhaging money and was broke. Which is stunning for a guy who made an estimated $154 million in NBA salary alone. Other reports have echoed this.
That was followed by a counter report (out of New York) that Iverson was not that bad off because a wise financial advisor and friend had essentially put Iverson’s money in a trust that paid him a yearly allotment and he couldn’t touch the rest. I want to believe the latter report, but the truth likely is somewhere in the middle.
Now out of Iverson’s divorce proceedings come some numbers that suggest he is losing $3.5 million a year. Of course, TMZ had the papers (hat tip to SI’s The Point Forward).
According to docs, Allen brings in $62,500 in monthly income, but his expenses are FAR, FAR, greater … costing him a cool $358,376.66 PER MONTH!!!!…
A large chunk — $125,749.33 to be exact — is spent paying off various creditors (like his jeweler) … and some goes to his mortgages (but not for long, since his ATL crib is about to be auctioned off).
But Allen says he blows a lot on OTHER expenses too … like $10,000/month on clothes, $10,000/month on grocery/house items, $1,000/month on dry cleaning, $5,000/month on entertainment, $5,000/month on restaurants … and so on.
Those figures need a disclaimer — be careful trusting the numbers lawyers use in a divorce case. Or any case. The goal here is for Iverson’s lawyers to make him as destitute as they can, therefore reducing what he has to pay his soon-to-be ex-wife.
My guess is Iverson is living way, way beyond his means anymore. I hope that a smart financial advisor did leave a safety net there for him.
In the end, who knows what is real. But this is the kind of controversy that has shadowed Iverson since he was in high school, it’s part of what has made him a polarizing figure. Which is a shame, because his game was so much fun.
The Spurs fell behind by 18 and eventually lost to the Bulls, 95-91, last night – which begged the question:
Does San Antonio coach Gregg Popovich bear any responsibility for his team’s lack of early intensity?
Jabari Young of the San Antonio Express-News:
I don’t remember playing tonight. I didn’t play. Guys get a lot of money to be ready to play. No Knute Rockne speeches. It’s your job. If you’re a plumber and you don’t do your job, you don’t get any work. I don’t think a plumber needs a pep talk. If a doctor botches operations, he’s not a doctor anymore. If you’re a basketball player, you come ready. It’s called maturity. It’s your job.
Like it or not, motivation is part of an NBA coach’s job.
But that’s also precisely what Popovich is doing.
His credentials dwarf any other coach’s. He can play to his own ego and absolve himself of responsibility – and players will seek to please him. His years of success have earned him the ability to motivate this way, a method no other coach could use without alienating his team.
Once the Rockets let Donatas Motiejunas back into free agency, this was only a matter of time.
Adrian Wojnarowski of Yahoo Sports:
This sounds remarkably similar to the salaries and incentives set in the original offer sheet from the Nets. But remember, the Rockets didn’t match some of those bonuses that Brooklyn would have been bound to.
So, why not hold Motiejunas to what became a four-year, $31 million offer sheet once matched? Houston got something in return – a later trigger date on guaranteeing Motiejunas’ 2017-18 salary. Originally, that decision had to be made March 1 – which would’ve meant dropping Motiejunas from the team this season to prevent his salary from counting next season. Now, the Rockets can make that call in July, after this season is complete.
The following two Julys, Houston will also have a choice on guaranteeing Motiejunas’ upcoming salary or dropping him.
Essentially, Motiejunas is signing the most lucrative Hinkie Special in NBA history. If he plays well and stays healthy, the Rockets have Motiejunas at an affordable rate. If he struggles or his back injuries flare up, they can drop him with little to no penalty.
After they backed themselves into this corner, Motiejunas and his agent, B.J. Armstrong, didn’t do so bad. Considering the similarity between this contract and the Nets’ original offer sheet, it seems Houston helped Armstrong save face after a bungled free agency (which is easier to accept when you’re adding a talented reserve to a formidable team).
But for how little is guaranteed and how much control the Rockets hold over the next four years, wouldn’t Motiejunas have been better off accepting the $4,433,683 qualifying offer?
The Rockets had Donatas Motiejunas in a bind.
He was beholden to them on a four-year, $31 million deal and unable to sign with other teams. Motiejunas’ choices: Report for a physical or wait in limbo.
But apparently Houston has allowed him out of that constraint.
Marc Stein of ESPN:
This means Motiejunas can’t sign with the Nets, who signed him to the original offer sheet, for one year.
I bet it also means Motiejunas and Houston have agreed to a new contract. Otherwise, why release him from the offer sheet? The Rockets would be giving up a tremendous amount of leverage out of the goodness of their hearts – unless this is just a prelude to a new deal with Houston.
John Wall didn’t like how Jusuf Nurkic bumped him, so Wall shoved the Nuggets center from behind and sent him to the floor.
An overreaction to the bump? Probably. Wall got hit with a technical foul.
But I’m mostly just impressed Wall was strong enough to push over Nurkic.