Posted February 06, 2013

Allen Iverson loses Atlanta mansion to foreclosure

NBA
Allen Iverson lost his Atlanta mansion to foreclosure this week. (Drew Hallowell/Getty Images)

Allen Iverson lost his Atlanta mansion to foreclosure this week. (Drew Hallowell/Getty Images)

It’s been a rough few days for Allen Iverson.

Less than a week ago, Iverson rejected an offer from the Texas Legends of the NBA’s Development League after expressing an interest to return to the NBA.

More recently, an Atlanta judge signed off on his divorce papers, saying that Iverson “does not know how to manage the children,” forbidding the former NBA MVP from drinking alcohol for the next 18 months and from drinking alcohol within 24 hours of seeing his children until they turn 18 years old.

On Wednesday, Iverson officially lost his Atlanta home to foreclosure, according to TMZ. The mansion has a $1.2 million mortgage that he failed to pay, so a bank purchased the $4.5 million home this week for $2.5 million.

This isn’t the fist time the former Sixers guard has allowed his house to go into foreclosure; in March 2011, his Colorado mansion that he owned while playing for the Denver Nuggets went into foreclosure after he failed to pay $2.5 million. His mansion in Pennsylvania when he played for the Sixers sat on the market for three years at $6.3 million. It eventually sold for $2.6 million in 2010, according to Yahoo! Sports. Over the course of his 14-year NBA career, Iverson earned more than $154 million in salary.

Iverson has repeatedly expressed an interest to play organized basketball again since retiring from the NBA in 2010, even hinting at playing overseas for the Chinese Basketball Association. He had a brief stint playing in Turkey, but it appears for now that he will only accept an offer to play in the NBA again.


44 comments
mausser
mausser

Reverend Al, It's only about being a man, who happens to be black, but lacks the money management skills he should have learned from his parents... He could have went to a George Foreman seminar to learn how to make money after sports....

ReverendAl
ReverendAl

Racism is obviously alive and well in America! Mr. Iverson's losing his home for nothing more than being a black man in the white man's world that gives and then takes away! Mr. Iverson is an innocent victim of the white man's society, and another casuality of capitalistic greed! No justice, no peace! Who's with me!?

MPS
MPS

Let's have this be the last Iverson article.  He's over, and he's reaping what he sowed.  And, apparantly, he's an alcoholic.  Bless him and his children.  

DaShoes
DaShoes

We be talkin' bout PRACTICE YA'LL!!! Not da game - jus PRACTICE!

C'mon maaaaaaaaaaaaaannnnnnnnn!!! PRACTICE!

 

Dem cribs wus jus PRACTICE! Da ain't all dat - da jus PRACTICE!!

 

I be gettin a REAL MTV Crib ova dare in China, where I'm not even short!

Anaximenes1
Anaximenes1

is there a care page where people can go and donate money so allen can keep his mansion?  he need space for all this stuff and ladies.  They won't come over to no small crib.  Will the site take debit cards?

marco  rubio
marco rubio

another   dumnbass   nigg   broke ya !!! u  young and  warreen  sapper  who is so  broke  he is livimng in a  treee

ILOVEIVERSON
ILOVEIVERSON

"The mansion has a $1.2 million mortgage that he failed to pay, so a bank purchased the $4.5 million home this week for $2.5 million."  I'M CONFUSED..IF THE MANSION HAD A $1.2 MILLION DOLLAR TAG, WHICH IVERSON FAILED TO PAY; THE BANK PURCHASED IT AT $2.5 MILLION - WHAT ARE WE TALKING ABOUT!  THE $4.5 MILLION TAG WAS INFLATED FROM THE BEGINNING!!!

AJFox
AJFox

He just needs to PRACTICE paying his bills and............oh wait. Nevermind.

Quite A Dude
Quite A Dude

Just another dumb arrogant brother who squandered it all. See you on the corner loser...

EasyGoer
EasyGoer

Hey, all you know-it-all jealous haters and smartasses, he just turned down the offer to join the Mavs' D-League team. Maybe he's not as strapped for cash as all you color haters think. Keep hoping for the worst. Post-racial America? Yeah, right.

EasyGoer
EasyGoer

Hey, all you know-it-all jealous hater and smartasses, he just turned down the offer to join the Mavs' D-League team. Maybe he's not as strapped for cash as all you color haters think. Keep hoping for the worst. Post-racial America? Yeah, right.

chris.hindle
chris.hindle

What's wrong with these people? Most of us work hard for 40+ hours a week (and I don't mean working on a ball game) to get by. This means:

 

     - We have to wake up early in the morning whether we feel like it not and no matter the weather

     - We start out at the bottom

     - We often have to put up with tough and sometimes unfair demands of our seniors

     - We have to delay gratification by saving

     - Many of us have to go it debt to be afforded such an opportunity at college which gives us  the opportunity to  "earn" a  mortgage for a house that is within our means.

 

Whilst this doesn't give us fame, excesses or Sportcenter highlights,  perhaps these responsibilities make us adults not child-men? Maybe the spoilt sports stars are the ones who are missing out? It must be horrible not knowing how to check your bank balance or organize insurance.

TherealdanMcKelvey
TherealdanMcKelvey

No brains in that boy...His posse depleted everything...Way to go AI......Want to be like him?...spend 10 times more than you make...You can do it....He is a peach.....There is no way he can even spell, "foreclosure"...N.....Please...

thecharitystrike
thecharitystrike

never wanted to pass the ball but is now too generous in passing the money. they will talk about this on THE CHARITY STRIKE.COM

M as in Mancy
M as in Mancy

I actually love seeing NBA players spend money. It's that economic stimulus that all the Asians and Jews who are fiscally savvy refuse to do for our country. He basically pumped in the GDP of a Carribbean island country into America. A true patriot.

tlarry
tlarry

Maybe if he'd paid a little more attention to practice, he'd still be in the league, earning a paycheck. How about the banks that still loaned him money after each foreclosure along the way. They all should be drug tested.

SukMadiq
SukMadiq

Iverson made tens of millions and yet will spawn a generation of kids on welfare.

ed-words
ed-words

Don't WHITE celebs squander their $$$ sometimes?

MPS
MPS

 @EasyGoer Yeah, bad use of the race card.  Posts like yours are what deligitimize true complaints of racism.  Way to be part of the problem.  And, Iverson is protected by an annuity a financial adviser built when he was young-- he got VERY lucky.  He'll never be poor, but he'll never be rich, and he did piss away well over 100 million dollars.  That needs to be remembered.  

IcUr n (*) ^*R
IcUr n (*) ^*R

What could anyone possibly be jealous about with this first class egomaniacal loser?  He turned down the offer because of his overinflated ego and nothing more.  He thinks he's too good for the D-League.  Don't worry, he's strapped for cash or he wouldn't let a $4+ million dollar home go to foreclosure unless he was just trying to prove what a low life loser he is.  It has nothing to do with race, but don't waste that race card to make excuses for a loser.

0xfece5
0xfece5

 @EasyGoer Yep, I know I'm pretty jealous.  If only I could lose multiple homes to foreclosure.  If only I could be a pathetic has-been in TURKEY.  If only I could be a horrendous father.

 

You're a f'ing joke EasyGoer.  When you use your race card on a bad human being, it tells us all that it has no credibility whatsoever.

M as in Mancy
M as in Mancy

 @EasyGoer

 And even broker than AI, Vince Young refused to play football in Canada. So what's your point?

pandah462
pandah462

 @EasyGoer Or maybe his galaxy-sized, inflated ego kept him from accepting play in a league below the NBA.  I don't care what color Iverson or any other cash-blowing athlete is if they blow this kind of money.  An idiot is an idiot...black, white or purple.

pandah462
pandah462

 @chris.hindle You said absolutely nothing of merit in that statement.  Some of your main points could be said about athletes, so what exactly have you proven?  Nothing.  Absolutely nothing.

cd019
cd019

 @TherealdanMcKelvey "Boy" "Posse"...something tells me if he were white you wouldn't be saying any of those words.

pandah462
pandah462

 @TherealdanMcKelvey Idiot.  Learn how to properly end a sentence.  Idiot.  Also, you may want to check that math.  He made $154 million in salary over 14 years.  He probably made more in endorsements.  You do realize that $154 million ten times over is $1.54 billion, right?  Idiot.

pandah462
pandah462

 @M as in Mancy Nancy, you suck at life.  Why limit it to NBA players?  The NFL and MLB players spend a good chunk of cash, too.  Real cute picking on Asians and Jews, honky.  You're a joke.

cd019
cd019

 @0xfece5  @EasyGoer Have you read alot of these comments Someone actually referred to him as the N word. another called him as a broke "brother" who he looks forward to seeing back on the corner. You brushing something obviously race rated removes any credibility you may have. Know what your talking about.

IcUr n (*) ^*R
IcUr n (*) ^*R

Actually, he pointed out what a bunch of losers athletes like AI really are.  If he couldn't bounce a ball, he would be a gang banger or bagging groceries for minimum wage, which he still may end up doing.

M as in Mancy
M as in Mancy

 @pandah462  @TherealdanMcKelvey

 You're quite the unhappy pappy there. Calling someone an idiot 3 times in 1 post? Are your masters degrees not hugging you back on Valentine's Day? I'll check in with you after a pharmacology rotation and let you know if they make Prozac in those hearts with red words on them...

M as in Mancy
M as in Mancy

 @pandah462

 Calling someone who uses smart decision-making and planning to make a lot of money and save a lot of money is "picking on" them? I wish someone would "pick on" me.

 

NFL players go broke just as much, but over the course of a shorter career with non-guaranteed contracts and salary caps, they don't make the money that NBA and MLB players do. Other than Lenny Dykstra, I can't find an MLB star rubbing nickels. Here's a little sample of where we get the idea that NBA players go broke...

 

http://bleacherreport.com/articles/404632-the-10-brokest-former-superstars-where-does-eddy-curry-rank#/articles/404632-the-10-brokest-former-superstars-where-does-eddy-curry-rank

 

Honky? Your 2 clever master's degrees obviously weren't in internet banter.

M as in Mancy
M as in Mancy

@PupSmith @IcUr n (*) ^*R Even going to Georgetown is worthless if a) He didn't graduate with a degree b) He didn't leave with any marketable skills (other than sports)

PupSmith
PupSmith

 @IcUr n (*) ^*R Why would he have to bag groceries?? He went 2 years at Georgetown University.And I am sure he don't have to bag groceries which there is nothing wrong with doing it because it is a honest living.The story did not say Iverson was broke it just said he allowed his home to go into forclosure.That is his business you maybe a GANGBANGER for all that we know and you maybe a killer so you need to shut your D-- mouth!!All of you that don't know what the H-- you are talking about!! Iverson has not asked any of you for a thing take care of your own business and make sure your homes don't go into forclosure.