Former NBA player Allen Iverson, aka “The Answer,” has an impressive 14-year career in the NBA, he left an unfading mark on basketball history. He was drafted as the No. 1 overall pick by the Philadelphia 76ers in the 1996 NBA draft after playing for two years at Georgetown University. Iverson quickly made his name by winning the “Rookie of the Year” title in his debut season.
The majority of Iverson‘s career earnings came during his time with the 76ers, totaling a massive $98 million. His first big contract was a six-year deal worth $70.9 million, which he signed before the start of the 1999-2000 season. After this, Iverson agreed to a four-year extension worth $73.5 million ahead of the 2004-05 season. In the 2008-09 season, he bagged his career-high earnings of $20.8 million.
Iverson also played for teams like the Denver Nuggets, Detroit Pistons, and Memphis Grizzlies, but his earnings from these teams were much lower if compared with the 76ers. In the 2009-10 season, he made $400,000 during his brief time with the Grizzlies before a mutual contract termination. Later that year, he rejoined the 76ers and earned little more than a million. Iverson’s total NBA career earnings sum up to a whopping $154.8 million.
Allen Iverson’s net worth and endorsements
Even after all the money he made for himself through his basketball career, Iverson’s current net worth is estimated to be $1 million. He reportedly lost much of his wealth due to his insane spending habits and preference for living a lavish lifestyle. A famous example of his unreasonable spending was when he misplaced his car at an airport and as per reports he bought a new one instead of searching for the lost vehicle.
However, Iverson’s endorsements helped him a lot with his finances. Particularly with the American sports apparel brand Reebok. Iverson initially signed a 10-year, $50 million deal with Reebok when he debuted in the NBA, but later they partnered for a lifetime deal after Iverson won the MVP in the 2000-01 season.
This agreement assures Iverson of an annual income of $800,000 along with a $32 million trust fund, which he cannot touch until 2030. However, due to his divorce settlements, Iverson will receive only half of this amount, and the remaining will go to his ex-wife, Tawanna.
Allen Iverson is the new Vice President of Reebok Basketball💯 pic.twitter.com/KPb1C2yWsO
— Hoops (@HoopMixOnly) October 12, 2023
Other than Reebok, Iverson’s endorsement portfolio also includes well-known brands like IO Moonwalkers, Packer Shoes, Stance, and T-Mobile. In addition, Iverson will receive an additional $800 per month from his NBA pension.