Ex-teammate: Allen Iverson would spend $30K or more during strip club visits
It’s been well-documented that Allen Iverson has experienced significant financial issues following his NBA career. A story relayed by a former teammate indicates that the supremely talented point guard used to blow through obscene amounts of money on a routine basis, especially if a visit to a strip club was on the itinerary.
Current Los Angeles Clippers forward Matt Barnes, who was a Iverson’s teammate on the 2005-06 Philadelphia 76ers, recently revealed that Iverson could drop upwards of $40,000 every time he patronized a strip club.
“Allen was the first guy that showed me how NBA players spend money in strip clubs,” Barnes tells Chris Ballard in an extensive Sports Illustrated profile. “That guy went. HARD. He’d throw so much money, and this was when I was first in the league, that I used to take my foot and scoop the s— under my chair and either re-throw it or put some in my pocket. He’d throw $30,000, $40,000 every time we went. I’m like, ‘You realize what I can do with this money?’”
Iverson earned an estimated $200 million during his career. As a saving grace he apparently has a “Reebok Trust Fund” to the tune of $30 million that he cannot touch until 2030.
Iverson’s substantial financial troubles following a highly successful and tremendously lucrative NBA career obviously serves as a stark cautionary tale for up-and coming athletes. It’s amazing how quickly millions upon millions of dollars can be shockingly dissipated through irresponsible mismanagement partnered with insanely frivolous spending. Although it warrants mentioning Iverson obviously isn’t the only former professional athlete to tragically trudge down this sorry path.
To illustrate just how dire Iverson’s finances have become is an anecdote from a court proceeding related to his divorce from wife Tawanna.
“Iverson stood during a divorce proceeding in Atlanta in 2012 and pulled out his pants pockets,” The Washington Post report reads. “‘I don’t even have money for a cheeseburger,’ he shouted toward his estranged wife, Tawanna, who then handed him $61.”
Yikes. Still, it makes one wonder, though, how a person can blow through the kind of money he made in such short order, no matter the underlying or extenuating circumstances .. maybe dropping $30,000-$40,000 during every strip club visit.
That probably was a small part of a huge problem.
(photo credit: Matt Rourke/Associated Press)