Allen Iverson Is Not Broke After All

Mick Akers@@mickakersAnalyst IMarch 3, 2012

LAS VEGAS, NV - OCTOBER 26:  Basketball player Allen Iverson speaks during a news conference at the Thomas & Mack Center to announce the Las Vegas Superstar Challenge October 26, 2011 in Las Vegas, Nevada. The three-game tournament will take place at the Thomas & Mack Center on November 12 and 13, 2011, and will feature four teams made up of NBA players, former NBA players and rookies. Iverson will serve as a captain for one of the teams.  (Photo by Ethan Miller/Getty Images)
Ethan Miller/Getty Images

Contrary to numerous reports that former NBA MVP Allen Iverson was broke after having his bank account seized by a judge in Georgia to pay off an almost $860,000 jewelry bill, Peter Vecey of the New York Post reported that he learned from a person familiar with the situation that Iverson has an account worth $32 million that he cannot touch until he is 55, but does release $1 million to Iverson yearly.

Luckily for him, he did have that account set up, otherwise we would be talking about a baller who was once insanely rich that is now bankrupt.

All though he has a good amount in his account, he did squander around $218 million in his career, as the report states that Iverson amassed around $250 million in his 14-year career, not $150 million as previously reported.

On top of all that money, he will begin to bank of an NBA pension in nine years, when he turns 45 years old, a pension that will pay him $8,000 per month—$96,000 annually.

Iverson, who has been out of the NBA for the past few years, is rumored to be interested in playing in the NBA's minor league, the NBDL.

The ESPN report states that Iverson would only play in the NBDL if there is a chance that the NBA would come calling for his services again.

A.I., who averaged 26.7 points and 6.2 assists a game during his career, didn't show much in his last season in the NBA during the 2009-10 season. Iverson's final season lasted just 28 games—25 with the Philadelphia 76ers and just three with the Memphis Grizzlies—where he averaged 13.8 points and four assists per game, playing an average of 30.9 minutes per contest.

I think if Iverson would show passion for the game of basketball at the D-league level and demonstrate that he doesn't mind being a role player coming off the bench, a team in need of a veteran guard to help guide a team into the playoffs would benefit with signing Iverson to a minimal contract.

So everyone can stop feeling sorry Iverson, as he still has more money than any of us will ever be close to making in our entire lives.