Allen Iverson to Receive $32M Trust Fund in 10 Years as Part of Reebok Contract

Tyler Conway@jtylerconwayFeatured ColumnistJune 8, 2020

Former 76ers Allen Iverson looks on during the first half of an NBA basketball game against the Boston Celtics, Wednesday, Oct. 23, 2019, in Philadelphia. The 76ers won 107-93. (AP Photo/Chris Szagola)
Chris Szagola/Associated Press

When Allen Iverson turned 45 on Sunday, he also reached an important milestone—the 10-year mark from when he can collect his $32 million trust fund from Reebok.

As Darren Rovell of The Action Network noted, Iverson famously signed a lifetime deal with Reebok that guaranteed him a $32 million trust when he turns 55.

Iverson signed his deal with the apparel company in 2001, when he was the NBA MVP and just led the Sixers to an NBA Finals appearance. Reebok, which was acquired by Adidas in 2005, pays Iverson an $800,000 yearly salary.

"He's an iconic personality," Reebok CEO Matt O'Toole said on the Bloomberg Business of Sports podcast (h/t Katie McInerney of the Philadelphia Inquirer) in 2018. "Let's get on a plane to Shanghai together. You bring Allen Iverson into a market like that. I'll stand firmly that he has a big place in basketball and sports history."

Iverson still makes multiple appearances per year for Reebok, including last year with an updated release of his Answer kicks in honor of his rookie season.