Iverson talkin' bout finance in divorce court. Says he loses $300K/month
Allen Iverson and wife Tawanna remain engaged in a bitter divorce and The Answer recently outlined his finances in court documents filed in Georgia, and claims he runs a defecit of close to $300K per month according to a TMZ report.
Iverson talkin' bout finance in divorce court. Says he loses $300K/month
Dan Gross
Allen Iverson and wife Tawanna at their wedding in 2001 (Elizabeth Robertson/Staff Photographer)
Allen Iverson and wife Tawanna remain engaged in a bitter divorce and The Answer recently outlined his finances in court documents filed in Georgia, and claims he runs a deficit of close to $300K per month according to a TMZ report.
Iverson says monthly expenses cost him about $360,000 per month while he brings in income of $62,500 per month.
According to the court filings, Iverson pays more than $125,000 to assorted creditors including his jeweler, and also spends money on several mortgates, though as TMZ states, his Atlanta mansion is about to be auctioned off.
A.I. reports that he spends $10,000 a month on clothes, $10,000 on groceries, $1,000 on dry cleaning and $10,000 per month on restaurants (It’s unclear how much is spent at T.G.I. Friday’s) and entertainment.
Iverson, who earned about $150 million throughout his NBA career, still owns a Maybach valued at nearly $400,000.
What was wrong with the Bentleys in which he used to cruise around Philly?
Comments (85)
Man I wish he was still playin for the Sixers !!— biagio77- "Defecit"? Any editors working at this publication?— Larry Brown
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Do people really take jeans and jerseys to the dry cleaners?- "Iverson says monthly expenses cost him about $360,000 per month while he brings in income of $62,500 per month."
Unreal... 
So according to Iverson he spends $800 per day, every single day on food? $200 Breakfast $300 Lunch $300 Dinner every single day. And the top 2% don't want to pay more taxes.- $10K a month at restaurants. Hey, Allen, ever here of Audi's?— mike l
- You can take the homie out of the hood but you can't take the hood out of the homie. This tool will be pennieless befroe he is dead.— Rowdy Yaytes
- NO SYMPATHY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!— brio
- I don't think I've spent 10K on clothes during my entire lifetime.— Jeff Dowder
- Sad. Very sad. And pathetic.
— TexColorado - Lenny Dyksta's in jail. It's just a matter of time before T.O. ends up there. And A.I. is well on his way. Sad and pathetic. I wonder if Ryan Howard got a pre-nup. Or maybe he'll just eat his fortune away. If a little guy like A.I. can spend $20,000/month on groceries and restaurants, imagine what Howard can spend.
— TexColorado - $150,000,000 and he's broke. Yup dem brovers nos howz 2 spendz....— mainstreet
- He's full of it, he is saying that because he is in divorce proceedings. The less he says he makes the less he has to give up. Another dead beat dad.— krautmef1
- I read this article, and all I could do is shrug my shoulders.— franknbeans
- I read this article, and all I could do is shrug my shoulders.— franknbeans
- Charles Barkley was right: "Basketball players aren't role models."— yahzooman
- $10,000 in groceries? He only weighs 150 lbs. So if a family of four lives on a $500 month grocery bill, this is enough for 20 families or 80 people. He never got rid of the hanger-ons... What a shame.— Sports4Life
- It's not easy to roll thru $150m but here you go. This boy is gonna be keepin' it real behind bars one day soon, if he lives long enough. And that's a real shame. $150 MILLION. Think about that for a minute.— PhillySubsMac
- Shocker. Another dumb jock blows his fortune and ends up broke...who would've thought— AngryGregR
- "Did Tawana tell you that?"— AngryGregR
- When you're supporting Mother dear, her husband, half sisters and brothers, your posse and your future ex-wife and kids, I can see a huge grocery bill. What dry cleaning? His style is basically the same -- baggy pants and a t-shirt, maybe a rag around the head. He doesn't want to pay his future ex-wife.— Anne Arkey
- This is the part where all of the A.I. apologists start saying that he has that lifetime deal with Reebok. The only problem is, that contract is lifetime for as long as he is playing, which he is not. That money be long gone, son.
— free market - the poster child for idiots— Old German
- agreed with franknbeans -- but at the same time, if you're a sixers fan and loved the iverson era, than you should honestly shut the f up. no true iverson fan would talk smack. he's a product of his environment, plain and simple. it's how he grew up; he never changed -- only the money did. it went from nothing to everything -- and then, apparently, back to nothing. whatever -- think about game 1 of the finals to all the haters, and suck on that. because if you can't win it all -- which in this city, 4 teams typically have failed to do every season in the past 30, save 1 (and one golden one) -- i'd rather have AI out there entertaining for a decade. HOLLA. bubba4eva.— glory08
- 10k on groceries a month? Sure.— linuxdood
- He's in the middle of a divorce so he's going to extremes to pay a little as possible. Many people do that ; of course, not on this scale.
In a few years you'll see he's in trouble with the IRS, then w/o a permanent home and then complaining that no one will hire him for any type of job, and it will be everyone's fault except his
— Polecat_39 - "Did you talk to Tawana?" Seriously, Iverson has a $45million trust that he'll have access to when he's 45. That's why his wife wants that loot.— Tyrone Biggums
- AI could never wear the same outfit twice and not even come close to $10K a month for clothing expense...Groceries would have to include the world's most expensive foods to add up to $10K a month...His dry cleaner is totally ripping him off at $1K a month...It only makes sense if he's still feeding and clothing a posse, and his entertainment is gambling. A truly pathetic case, only deserving of sympathy because of his ignorance.— guitarman
- I assume, with a tab of 3 mil a year, that his entourage of parasites and hangers-on still exists. I was so cynical-- I assumed that bunch would drop off after the money ran out. Gee. i was wrong.— xkarivalis
- This man has money he put it in a trust fund until he is 55 he is not slow or broke at all.— rikk48
- "AI gotta be AI." Momma.— sandiego1969
- As a forensic accountant, get the detail. Why $10,000 per month for clothes and restaurants???? Who is he picking the tab up for????— TheGuyfromPhilly
- This guy is soooo stupid, he can't even make up reasonable lies.
— cuch - womens lib...is a joke...they all want money for nothing. guys dont get married.— psualum
- Nobody undestands me!! WAH! We talkin 'bout groceries man! Groceries? How do you possibly spend $10,000 a month on groceries AND restaurants? ? ? You have got to print the judges response when this gets to court. What a FOOL, another broke a** has been, but I'm sure his posse has his back.— EagleEye61
- Why does he need dry cleaning when he spends $10k a month in clothes? He obviously doesn't wear the same thing twice. And how do you spend $10k a month at restaurants, than another $10k food shopping if you are eating out every meal?— dankil13
- Obama will provide— Relocator
- obviously he is lying to reduce child payments and alimony.
he was, is and always will be a thug and a punk...also a loser that only got to the NBA finals because Larry Brown let him shoot as much as he wanted 1 year and filled out the roster with defensive specialists ....that only works for a year.— jp4210 - Why does the DN/Inky print these fables? No one in their right mind is buying this lie. AI is not the smartest athlete in the world but he is totally classless. Divorce is the motivator for his filing with the courts. There is a lawyer behind those claims. The amounts are shocking to regular people because they are outside the realm of reality. Towanna and her attorney are not buying it. They know he has a 55 Million Trust Fund. 2/3 of that will go to his kids. Any judge with a right mind would insure that outcome. No reason AI kids should be on the Public Dole. What he does with the remainder is up to him. He should get rid of the posse and hanger-ons now. He needs to start right sizing his life to adjust to his new economic reality or future. They should make a movie about AI to teach future Athletes on what not to do with their money. Education is the key.— A. Martinez
- He should run for Congress.— tooly
- Keepin it real— Mottz
- I remember back in his heyday he was supporting his entire posse. It was like 25 guys who did not work and did nothing but hang out with AI full time and he totally supported them. A fool and his money............— jak55555
- Need to add an adjective to his description:
Broke. Scum. Bag.— richojr 
For a guy who came from the projects, and knows what poverty is, this behavior should be ridiculed, mocked and condemned every single day. There should be an "Iverson as Fool" section added to the paper. Role model? You better believe it.
§
- Typical NBA Trash!— Dogkilla
- the 10k on groceries is actually his weed budget.— TrollExterminator
- Luckily, he can fall back upon the Georgetown education he obtained. Equally lucky that not thousands of well qualified students his age would have actually made use of the spot he took up.— ghostofozark
Comment removed.- this young man will always be a hood rat because of his hood rat mother, he brought the money and controlled evry bdoy around him and instead of his mother being a mother she turned to his friend. God bless this young man who is lost in the world of no mans land— aliha7
- Proof positive these athletes think they are minor gods.
I said the same on a Vick article....I don't hate Iverson but I am fascinated how quickly some people blow thru money.— 1000hugs - That's the problem with having all that money by the time you're 19, you never really know the value of money. He probably thinks those are all reasonable expenditures.— drbob1
- How does anyone blow thru 300.00 plus dollars a day on groceries??
OMG these athletes are morons.— 1000hugs - Larry Brown, your point is idiotic. A deficit means you are operating with spending more money then you take in. So, yea, Iverson is operating at a deficit.
Good try at being funny but it failed.
— Pat c - "Several mortgates"? Once more the out of towners (TMZ) scoop the local newshounds on what should be local story. But after decades of practice, hear see and speak no evil is an art at the Phillynews desk.— tom c.
- He sounds like the US government!!— marckahn
- $650/day for restaurants and groceries? Wow! Where does he shop for groceries? Where does go to eat? If he's spending that much on restaurants, why does he still shop for groceries? I guess feeding that entourage/freeloaders of his is hard work. I thought he's out of basketball? So what does he do to earn $62,500/month? I'd love to have that salary.— drjk888
- These kinds of stories put up all sorts of unfortunate mirrors for those who comment on them. They overlay their own biases and lay them bare for all (but themselves) to see. Personally, there isn't anything but a couple whose marriage is ending and a family that's dissolving. And the aftermath of a guy who (like every one of us) probably will look back and wish to have a couple key decisions to do over again.— doctorhim
- AI - Join Sam's club and buy some coupons from Resturants.com. $5,000 a month right there. Oh and don't forget your rewards points for credit cards and air travel.— towman
- How does he spend 10 grand on groceries when he eats out all of the time? Also, nobody in theri right mind spends $1000 on dry cleaning.— alihajishank
- Sad, very sad.— camasbud
- I believe the issue he has with creditors, but no way do I believe the other numbers. As noted, he's in the middle of a divorce.— beegal99
he is broke because he has 30 of his friends still on the payroll. AI says he has grown up but obviously not. I would do anything to have a monthly income of $63K/mo, sickening.— birds748- He'd fit in well in Congress— JamesJ
- Pat c - I think Larry Brown was referring to a spelling error in the original story— PhilzFan
- N I double G A 4 LIFE— philly thug
- I think A.I. consulted President Obama on how he "balances" the budget. Yo Prez, it don't matter how much you earn, spend however you all choose to... ain't no one gonna force you to balance a budget. We talkin' 'bout budgets.— BFlint
- Let's see, we've got a President who NEVER worked in private industry nor balanced a budget. We've got tax cheat Timmy Geitner trying to push the President's "tax the rich scheme" and we've got Harry Reid leading the senate who has illegally failed to produce a budget the past 3 years. And people then we have these pro athletes who have never balanced a budget and have no concept of how to save money but expect to be bailed out just like the lazy folks who refuse to work.— BFlint
- Sme of you commenters are complete fools and idiots. You are jumping to the conclusion that AI is broke, but where did that info appear in this story? You assume that everything written here is factual, but you forget that this is a divorce proceeding. Men have to devalue their assets and income, inflate expenses and liabilities in order to prevent getting totally screwed. AI isn't broke and may never be. He didn't spend all of his money, you dopes. His wife knows that and wants a huge chunk of his retirement fund...— Getinline
- Another who cares article.— realtruth
- AI needs a tax cut so it can trickle down to all the dry cleaners out there.— TimO
- He could have remained in the game in some capacity, as a coach or executive, if he had been wired differently. But the lifestyle he chose to lead took him out of the game and onto the gossip pages. I wish him well and hope he somehow changes his course, but I don't see it happening. Indeed, he is a role model on how not to blow an opportunity that only a select few have a chance to experience....— DelawareRiverRat
- watching him go broke is great now fi he could get himself locked up that would be awsome— stayoutofphilly
- 60K$ in. 360K$ out. Just like Obama.— ACBaughman
- Did Towana tell you that???— obx2003
- He is just doing what Obama does.....— jet2012
- My bad. Not enough practice, I guess. Did TAWANNA— obx2003
- Don't worry, his Posse will be there for him!— cooperhawk
- With $10K monthly spent on new clothes , just throw away in the trash the clothes you wear daily and save the $1K monthly paid to the cleaners.— zen
- Wow -that's a big "mortgates". Nice ed.it.ing.— franka
- He took 22 people on his honeymoon. Private jet he rented was $110k. I watched it at Atlantic Aviation.— boroughboy
- ....and don't forget Mike Tyson blew threw $300MM. I like the guys who said it's a regular failed marriage, he's just like you and me.— boroughboy
- How much does he spend on books?— pedge
- Wow,figured he spent $2-3000 per month on his gangsta tattoos.— TEDcGEGI
- I thought he didnt spend $0 on clothes after he put wife out of house naked and put a gun to Mr Pum-Pum's head.— AlwaysRight
- Twenty k on food. Now that's a "roll" model.— jrsbarfarm
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