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.
This not only changes the Kings dreams of making the playoffs in the West, it also alters the trade deadline and free agency.
Rudy Gay, the Kings wing and second-leading scorer, has been diagnosed with a torn left Achilles tendon, according to the team. During the third quarter of Wednesday night’s game against the Pacers, Gay drove out of the right corner and, untouched, fell to the floor hard. He had to be helped off the court by teammates.
Team doctors made the initial torn Achilles diagnosis, which will need to be confirmed by an MRI scheduled for Thursday. He would be out not only for this season but likely the start of the next one as well.
Without Gay, a lot more will fall on Matt Barnes and, once he returns from his calf injury in a couple of weeks, Omri Casspi. However, those two are a drop off from what Gay brought to the Kings, and the team’s playoff chances have taken a serious hit (they are 1.5 games out of the eight seed after Wednesday’s loss to the Pacers).
Gay was not happy in Sacramento and had said planned to opt out of the $14.3 million final year of his contract to be a free agent next summer, which made him someone potentially traded before the deadline (although the Kings being in the playoff hunt impacted that). Gay averaged 18.7 points and 6.4 rebounds a game for the Kings, and while his game was a little old school — more isolation and midrange shots than teams prefer — he put up points. Enough that he was drawing trade interest heading toward the deadline from Oklahoma City and other squads.
That is all off the table now. At age 30, if Gay does still opt out of his contract for next season this will impact what he would make on the free market.
Kevin Durant playing the Thunder invites extra emotions.
Russell Westbrook felt them – in the form of a flagrant foul by Warriors center Zaza Pachulia, who stood over Westbrook for emphasis.
Pachulia is really embracing his role doing the dirty work for star-studded Golden State.
That rumor No. 1 pick Ben Simmons won’t play this season?
It just won’t die.
Even after Simmons tried to quash it, even after the 76ers’ CEO outright denied it, even after Simmons returned to practice, even in an otherwise optimistic report.
Chris Haynes of ESPN:
76ers rookie forward Ben Simmons could make his much-anticipated NBA debut shortly after the All-Star break, league sources told ESPN.
Barring a setback in his recovery, sources say the No. 1 overall pick in the 2016 NBA draft has a chance to take the hardwood near March. There still remains the possibility Simmons sits the entire season, sources said, but his situation will continue to be thoroughly evaluated throughout his comeback quest.
76ers coach Brett Brown said there’s “no chance” Simmons plays in Philadelphia’s nationally televised game against the Rockets next week. Other than that, there isn’t much clarity.
It mostly sounds as if Simmons is still too far from returning to say something definitive.
The Hornets did so much right in their 107-85 win over the Trail Blazers, even a bad pass went through the hoop.
Roy Hibbert reacted fantastically to blunder/basket (blasket?).