Another report Allen Iverson is hemorrhaging money

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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.

Marcus Smart posts heartfelt tribute to mother, who died Sunday

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Marcus Smart delivered one of my favorite quotes after the Celtics beat the Rockets last season:

Smart — when asked if he prides himself in being “a pain in the ass” — chuckled.

“I guess you could say that,” Smart said. “My mom might say that. But nah, I play defense with passion, and defense wins games, and that was proven tonight.”

A deep love is the subtext behind that quip. Smart put it on display again – unfortunately after the death of Camellia Smart, who had been battling cancer.

Smart:

Smart plays with such heart, passion and toughness. If his mother were his role model, he honors her every time he takes the court.

Jimmy Butler says his meeting with Thibodeau, Timberwolves is Tuesday (today)

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There are a lot of questions surrounding Jimmy Butler‘s meeting with Tom Thibodeau and the Minnesota Timberwolves brass: Can the Butler/Karl-Anthony Towns relationship be repaired? Is Thibodeau the guy who could repair it, or is he entrenched on one side of that battle? Will the situation be resolved enough for Towns to sign the max extension to his rookie contract that has been sitting on the table since July? Will Butler asked to be moved?

That meeting had been reported to be Monday, but Butler said on Twitter it’s Tuesday, and did so in a snide way.

Who cares if the reporting (by Jon Krawczynski and Shams Charania of The Vertical) on the day was one off if the substance of the meeting is the same? It’s not some massive error that throws the entire reporting into question. This feels like a high school history teacher testing about the date for the battle of Gettysburg and not why it was a turning point in the Civil War — the substance is what matters more.

Butler doesn’t deny or get into the substance of the meeting, which is what matters.

What comes out of that meeting will have a significant impact on the Timberwolves one way or another this season. Minnesota won 47 games last season and made the playoffs for the first time since 2004, but it’s hard to see how they take a step forward if the locker room remains this fractured (and in a very deep West they need to take a step forward to make the playoffs again this season).

USA rolls past Panama in World Cup qualifying, 78-48

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PANAMA CITY (AP) — U.S. coach Jeff Van Gundy came into the start of this second round of qualifying for the FIBA Basketball World Cup cautioning his players that they would face enormous challenges.

They clearly heeded his words, and the Americans are now closing in on a trip to China next year.

Reggie Hearn scored 12 points, Dwayne Bacon added 10 and the U.S. easily got past Panama 78-48 in a qualifying game Monday night. The Americans have won both of their second-round qualifying games so far, winning them by a combined 87 points.

“It’s just an honor to be able to go to another country and wear this jersey,” said U.S. forward Henry Ellenson of the Detroit Pistons. “It’s just something really special and I love doing it. I was so excited to get the invite. This was a blast and a hell of an experience.”

The U.S. outrebounded Panama 50-34, held the hosts to 31 percent shooting and trailed for only 67 seconds in the early moments. Van Gundy went to his bench early and often, rotating players throughout in part because of a steamy feel inside the arena named for Panama’s boxing legend Roberto Duran.

“I think our greatest strength is our depth,” Van Gundy said. “Again, we’ve pretty much done this throughout. We play 10 or 11 guys, anywhere from 10 or 11 minutes up to the low 20s. We try to take advantage of our depth. Tonight, the crowd was good, but it was warm in there.”

And now, Nov. 29 – the next day of qualifying games in the Americas Region – sets up as enormous.

The U.S. and Argentina are tied atop Group E with 7-1 records and will play that day with outright control of first place in the group standings up for grabs. Uruguay and Puerto Rico will meet that same day, each entering with 5-3 records, meaning the loser there will be three games behind the U.S.-Argentina winner with three games left in qualifying.

The top three teams in Group E are guaranteed spots at the World Cup, which starts in China on Aug. 31.

After the way they played Monday, it seems like only a staggering collapse would keep the Americans from qualifying.

The U.S. used a 16-0 run – needing only about two minutes – in the fourth quarter to turn what was a relatively one-sided game into an even bigger rout. Chasson Randle, Hearn and Travis Trice all made 3-pointers to get that spurt going, and Ben Moore‘s layup with 6:30 left gave the Americans a 73-40 lead.

“It feels great. It moves us that much closer to qualifying,” Hearn said. “It moves us that much closer to the U.S. getting to the World Cup and getting the whole thing.”

The U.S. got an ideal start in a hostile arena, running out to a 16-3 lead as Panama opened 1 for 11 from the field.

The Americans were in control throughout, though there was a brief stretch late in the first half where the U.S. grip on things seemed to slip ever so slightly. Panama got within 31-23 with 2:04 left in the half on a jumper by Tony Bishop Jr. before Hearn and White combined to score the final five points before the break and send the Americans into intermission with a 13-point lead.

When the second half started, the U.S. resumed pulling away. Frank Mason, Dakari Johnson and Bacon scored the first six points of the third quarter, and the Americans’ lead was quickly pushed out to 42-23.

 

Report: Sports Illustrated’s Lee Jenkins to take front office job with Clippers

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Selfishly, this makes me sad because I’m not going to get to read more of his work now.

Lee Jenkins is more than just one of the best NBA writers out there, he is one of the best sports journalists out there. A fantastic reporter with a great eye, Jenkins is an artist of a storyteller. He’s the guy other NBA writers are in awe of. He’s the man who co-authored LeBron James“I’m Coming Home” about his return to Cleveland, and more great in-depth stories than there is room to mention here.

And he’s about to leave Sports Illustrated for the Los Angeles Clippers, a true WojBomb from Adrian Wojnarowski of ESPN.

Jenkins commented to Sports Illustrated.

“Sports Illustrated called on my 30th birthday, the greatest gift of my professional life,” Jenkins says. “I was one of those kids who grew up running to the mailbox on Thursday afternoons. SI taught me to read, and then, to write. With dream jobs, reality often disappoints, but everything about SI only exceeded my imagination. I’ve worked alongside my idols, Tim Layden, Tom Verducci and S.L. Price, and with my friends, Michael Rosenberg, Chris Ballard and Greg Bishop. There is no honor in this business like sharing a page with them.

“SI remains the ultimate platform for sportswriting and I would not leave for another media outlet. But I was offered an extraordinary opportunity to work in the front office of an NBA team and see the league I cover from a different angle. I’ve been privileged to tell a lot of triumphant basketball stories over the past decade. With Steve Ballmer and Jerry West, Lawrence Frank and Michael Winger, Doc Rivers and Shai Gilgeous-Alexander, I’m going to try to help build one.”

I’m not sure exactly how they will define Jenkins’ role with the Clippers, but I have no doubt he will do it well. Plus, inter-office emails for the Clippers are about to take a ridiculous leap in quality.