Despite rampant rumors that former NBA Most Valuable Player Allen Iverson is broke, the New York Post writes that the 36-year-old actually has a large lump sum of cash set aside which he is not allowed to touch.
The Post reports that a friend of Iverson’s helped him set up an account worth $32 million, of which he cannot touch until he is 55-years-old. In the meantime, he is able to receive $1 million annually from the account. Iverson will also begin receiving an NBA pension at age 45, which will also pay him roughly $8,000 per month.
Iverson’s last stint in the NBA was in 2010 with the Memphis Grizzlies and the Philadelphia 76ers, where he averaged 13.8 points, 4.0 assists, and 2.8 rebounds per game.
During his career he averaged 26.7 points, 6.2 assists, and 3.7 rebounds per game. He was an 11-time All-Star, two-time All-Star MVP, and in 2001 he was the NBA’s Most Valuable Player.