Allen Iverson isn't broke. He made that perfectly clear during an interview last month. But according to Kent Babb's recent book, Not a Game: The Incredible Rise and Unthinkable Fall of Allen Iverson, A.I. did make some really questionable financial decisions during his divorce from his wife Tawanna—and those decisions could end up costing him quite a bit of money, especially when he turns 55 and goes to collect his Reebok trust fund.
For those who aren't familiar with the trust fund Reebok set up for A.I. back when he first signed with them, it calls for the former NBA superstar to collect about $32 million when he turns 55. However, in his book, Babb claims that, back in 2010 when A.I. and Tawanna first started the divorce process, A.I. was so desperate to win Tawanna back that he signed a postnuptial agreement that called for him to lose the entire Reebok trust if he violated a number of items. Those items included:
- Can not cheat or have children outside of marriage.
- No physical or verbal abuse.
- Must attend marriage counseling.
- Must speak to therapist about drinking and gambling problems.
- Can never gamble again.
- Must be home by midnight.
- Must discuss any purchases over $5K.
Babb also claims that A.I. didn't live up to at least one of those items and that, in turn, Tawanna moved ahead with the divorce and finalized it in 2013—taking the entire trust fund with her. For some reason, she did eventually agree to give A.I. half of the Reebok trust back in the divorce, but she kept the other half for herself. It was reportedly a nice gesture on her part, but it's also worth noting that A.I. didn't have to agree to the postnuptial agreement in the first place. So he stands to lose out on a lot of money in 15 years for, well, being a bad husband.
The good thing for him is that recent reports indicate that A.I. and Tawanna are back on good terms and, while still divorced, are working on their relationship, which could make A.I.'s bad financial decision irrelevant. But if he does end up losing half of the trust, it would be yet another big financial blow to him and would likely lead to those rumors about him being broke resurfacing again.
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[via Black Sports Online]