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| Allen Iverson's friend(s) https://mail.chicagofanatics.com/viewtopic.php?f=100&t=68419 |
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| Author: | Krazy Ivan [ Tue Mar 20, 2012 11:12 am ] |
| Post subject: | Allen Iverson's friend(s) |
Report: Allen Iverson is not broke because a friend was smart Kurt Helin Mar 2, 2012, 1:11 PM EDT Someone in Allen Iverson’s inner circle was a true friend to the man. We reported recently on a judge ordering Iverson to pay more than $850,000 to a jewelry store for goods received, and the judge needing to go into his bank account and get what they could. If that happened to you or me, it’s a sign that we’re broke. There have been a lot of reports Iverson is busted. That is why he is willing to play in Puerto Rico or the D-League. But like I said above — and as Peter Vecsey laid out in detail in the New York Post — someone in Iverson’s inner circle was a true friend. Someone recognized if just given the money he would burn through it, so… A person with a firm grip on the situation informs me Iverson has an account worth $32 million, a principal he is prohibited from touching until 55. In the meantime, it feeds him $1 million annually. At 45, Iverson is eligible to start drawing on an NBA pension that maxes out at 10 years of active duty, or take whatever’s there as lump sum. He will be entitled roughly to $8,000 per month ($800 per x 10). If at all possible, Iverson will issue a restraining order against himself until he’s 62 or so. At that time, I’m told, his lump sum will be between $1.5 million and $1.8 million, or he can elect to take monthly checks of approximately $14,000 per. Now, living with in those means may be a challenge for Iverson. But someone had the foresight to protect the man from himself, and that is going to save him. That is what a true friend does |
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| Author: | Krazy Ivan [ Tue Mar 20, 2012 11:22 am ] |
| Post subject: | Re: Allen Iverson's friend(s) |
Yep. He would be flat out broke if it weren't for this guy or guys. I do find it disturbing that he can;t figure out how to make a Mil a year work for him. He doesn't have to play Turkish basketball, doesn't have to go to the D-League, but his dumb ass is still living beyond his means I guess... |
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| Author: | Big Chicagoan [ Tue Mar 20, 2012 11:23 am ] |
| Post subject: | Re: Allen Iverson's friend(s) |
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| Author: | Frank Coztansa [ Tue Mar 20, 2012 11:24 am ] |
| Post subject: | Re: Allen Iverson's friend(s) |
Krazy Ivan wrote: I do find it disturbing that he can;t figure out how to make a Mil a year work for him. That is fucking terrible. Even his $8,000 pension gets him $96K a year. That is more than a lot of people make in 2 or 3 years. Anybody who can't figure out how to live within those means, I guess they deserve whatever happens to them.
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| Author: | badrogue17 [ Tue Mar 20, 2012 11:57 am ] |
| Post subject: | Re: Allen Iverson's friend(s) |
Think there was an Esquire magazine article a couple months back detailing this, essentially putting it on the league to institute a plan to save these guys from themselves citing the 60% bankruptcy rate within 5 years of retirement. Don't know how its the leagues responsibility or how well it would go over with the players being told by the league that you need to give us X % of your salary that we will hold in trust for you that you can't touch until X amount of years after you're done playing and you can only withdraw a certain % per year from it. |
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| Author: | rogers park bryan [ Tue Mar 20, 2012 1:56 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
badrogue17 wrote: . Don't know how its the leagues responsibility or how well it would go over with the players being told by the league that you need to give us X % of your salary that we will hold in trust for you that you can't touch until X amount of years after you're done playing and you can only withdraw a certain % per year from it.  Maybe do more at the rookie workshop and show them that this type of account it available. But cant be holding playa's or player's monies. |
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| Author: | 312player [ Tue Mar 20, 2012 2:00 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
good to hear..that is what friends are for, look out for each other..antoine walker needed a guy like this in his corner |
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| Author: | Spaulding [ Tue Mar 20, 2012 2:00 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
badrogue17 wrote: Think there was an Esquire magazine article a couple months back detailing this, essentially putting it on the league to institute a plan to save these guys from themselves citing the 60% bankruptcy rate within 5 years of retirement. Don't know how its the leagues responsibility or how well it would go over with the players being told by the league that you need to give us X % of your salary that we will hold in trust for you that you can't touch until X amount of years after you're done playing and you can only withdraw a certain % per year from it. They could offer it but not mandate it. Good thing his friend did. So many times it's the other way around. |
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| Author: | Krazy Ivan [ Tue Mar 20, 2012 2:01 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: good to hear..that is what friends are for, look out for each other..antoine walker needed a guy like this in his corner He just sold his 2006 Championship ring... |
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| Author: | Bagels [ Tue Mar 20, 2012 2:04 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
rogers park bryan wrote: badrogue17 wrote: . Don't know how its the leagues responsibility or how well it would go over with the players being told by the league that you need to give us X % of your salary that we will hold in trust for you that you can't touch until X amount of years after you're done playing and you can only withdraw a certain % per year from it. Maybe do more at the rookie workshop and show them that this type of account it available. But cant be holding playa's or player's monies. yeah look what happened to Gary Coleman |
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| Author: | 312player [ Tue Mar 20, 2012 2:05 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
sad to see someone make 100 million dollars and end up broke..have met him a few times before i was kicked out of mt carmel..he is a good guy just not real smart |
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| Author: | rogers park bryan [ Tue Mar 20, 2012 2:06 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: i was kicked out of mt carmel.. the plot thickens how old are you? |
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| Author: | 312player [ Tue Mar 20, 2012 2:07 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
gettin kinda personal eh...2 years younger than walker..but we had a class together 
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| Author: | rogers park bryan [ Tue Mar 20, 2012 2:08 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: gettin kinda personal eh...2 years younger than walker..but we had a class together ok, if youre really that old you arent the guy i know they kick a lot of people out |
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| Author: | badrogue17 [ Tue Mar 20, 2012 2:11 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
rogers park bryan wrote: badrogue17 wrote: . Don't know how its the leagues responsibility or how well it would go over with the players being told by the league that you need to give us X % of your salary that we will hold in trust for you that you can't touch until X amount of years after you're done playing and you can only withdraw a certain % per year from it. Maybe do more at the rookie workshop and show them that this type of account it available. But cant be holding playa's or player's monies. I think the author made it sound like its the leagues responsibility to do more for the players as far as money management goes and they aren't doing enough to advise these guys what to do with their money. I think thats a bit of a crock myself,but you would think even the players union would look at a 60 % bankruptcy rate and say hey we need to help these guys out a little more. I don't know how you're going to tell a 25 yr old kid making 9 million a year that they can't have all their money when they want it though. |
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| Author: | Douchebag [ Tue Mar 20, 2012 2:12 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
immessedup17 wrote: I would believe it if 312player = Antoine Walker. Things would make so much sense. 
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| Author: | rogers park bryan [ Tue Mar 20, 2012 2:12 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
Man, I forgot he wasnt always fat |
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| Author: | 312player [ Tue Mar 20, 2012 2:13 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
don't know any bryans with a Y...... yeah i have like 8 or 9 friends who got bounced too..and i would never piss away that kinda money..if i had a hundred million i would turn it into half a billion...but good for ai..i thought he was broke |
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| Author: | Frank Coztansa [ Tue Mar 20, 2012 2:20 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: don't know any bryans with a Y 
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| Author: | 312player [ Tue Mar 20, 2012 2:26 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
on a side note..mrs mcnabb is one of the nicest people i have ever met..sweetheart of a lady |
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| Author: | Big Chicagoan [ Tue Mar 20, 2012 2:28 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: on a side note..mrs mcnabb is one of the nicest people i have ever met..sweetheart of a lady Was she always handing out soup? |
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| Author: | Phil McCracken [ Tue Mar 20, 2012 2:28 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: on a side note..mrs mcnabb is one of the nicest people i have ever met..sweetheart of a lady 
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| Author: | Hank Scorpio [ Tue Mar 20, 2012 2:31 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: on a side note..mrs mcnabb is one of the nicest people i have ever met..sweetheart of a lady She heats up Chunky soup like none other. |
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| Author: | good dolphin [ Tue Mar 20, 2012 5:29 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: before i was kicked out of mt carmel..he is a good guy just not real smart You were expelled from Mt. Carmel but feel comfortable judging someone else's intelligence? |
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| Author: | 312player [ Tue Mar 20, 2012 7:21 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
almost did not respond to this...but i will say one last thing...i am a private person and don't want any attention ..i don't really care what any net strangers think but ...there is different kinds of smart..book/street and i am not dummy but i also know i am no rocket scientist..but you can be bounced from any school for many reasons..and if you are 2 years older than me and we are in the same class than yes..you are a dumbass..because like i said i am no rocket scientist...this is about iverson not me so i am done with the thread. |
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| Author: | conns7901 [ Tue Mar 20, 2012 8:15 pm ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: almost did not respond to this...but i will say one last thing...i am a private person and don't want any attention ..i don't really care what any net strangers think but ...there is different kinds of smart..book/street and i am not dummy but i also know i am no rocket scientist..but you can be bounced from any school for many reasons..and if you are 2 years older than me and we are in the same class than yes..you are a dumbass..because like i said i am no rocket scientist...this is about iverson not me so i am done with the thread. So was it Dave or Foster who bounced you? I'm guessing it was a foreign language class? Possibly an elective. MC (back in the day) routinely put juniors in Spanish I that came in with low reading scores as Freshmen since those kids took a reading class on top of English their Fr and Soph year. |
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| Author: | good dolphin [ Wed Mar 21, 2012 8:28 am ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: there is different kinds of smart..book/street . the victory cry of low achievers |
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| Author: | good dolphin [ Wed Mar 21, 2012 8:31 am ] |
| Post subject: | Re: Allen Iverson's friend(s) |
I'm not a market expert but shouldn't $35 million be kicking off more than $1 million per year |
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| Author: | FavreFan [ Wed Mar 21, 2012 8:33 am ] |
| Post subject: | Re: Allen Iverson's friend(s) |
312player wrote: almost did not respond to this...but i will say one last thing...i am a private person and don't want any attention ..i don't really care what any net strangers think but ...there is different kinds of smart..book/street and i am not dummy but i also know i am no rocket scientist..but you can be bounced from any school for many reasons..and if you are 2 years older than me and we are in the same class than yes..you are a dumbass..because like i said i am no rocket scientist...this is about iverson not me so i am done with the thread.
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| Author: | 312player [ Wed Mar 21, 2012 8:45 am ] |
| Post subject: | Re: Allen Iverson's friend(s) |
 was not expelled for grades, nobody is ever as far as i know
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