Allen Iverson is broke as he retired on Wednesday, with a net worth far below what he made in the United States.
The shooting guard hasn’t played in the NBA for nearly four years but still held a press conference announcing his official retirement.
“I’m going to always be a Sixer til I die,” he said. A source said that the Sixers have talked with Iverson about a role with the franchise post-retirement, but nothing has been finalized.
While Iverson was one of the most storied players of his time, he reportedly hasn’t done well in saving money from his career, during which he pulled in over $200 million.
His former wife Tawanna has asked Iverson to pay her $1.2 million, which she would put into a trust fund for child support.
However, according to court documents cited by TMZ, he says that he doesn’t have enough money for the child support.
He said that the only steady source of income he has is a Reebok deal, and that the income isn’t enough to pay the money. The deal was originally for 10 years and $50 million, reported AP in 2001, though it has been extended since then.
Iverson added that he’s paid more than $0.5 million this year alone in child support.
At the press conference on Wednesday, Iverson credited former Sixers coach LarryBrown, and his Georgetown coach John Thompson, who was at the ceremony, for turning him into a man. He had a catch in his voice taking about his deep relationship with former Sixer Aaron McKie. He called Jordan was an inspiration.
But Iverson’s post-NBA career has been marred by divorce and stories of financial ruin and alcohol abuse. Iverson was flanked on the podium by three of his children, and said he couldn’t let every rumor about his personal life upset him.
The Associated Press contributed to this report.
