Broke 76ers Legend?s Gambling Habits by Splashing 4x His Own Net Worth Will Shock Even Michael Jordan

The NBA is one of the most lucrative sporting leagues in the world for athletes owing to its immense popularity. As a result, the superstars of the league are now being paid salaries of around $40 million a year in the modern era. However, the Michael Jordan era of the NBA also saw its financial glories, as his efforts helped players earn a lot of money off the court. Meanwhile, the massive fortunes that came with success also resulted in some players losing their way by splashing money on their expensive lifestyles and habits. In fact, this Philadelphia 76ers legend ended up splurging four times more money than his own net worth, a feat that would even shock a prolific gambler like Michael Jordan.

Michael Jordan is known for his love of gambling. However, he is just one of the many NBA stars who were enticed by casinos. Jordan’s competitiveness and eye for new challenges made him move closer to gambling. However, he still managed to keep growing his wealth and managed to reach billionaire status. But, not all stars retain their fortunes after retirement, like the 76ers legend Allen Iverson, who earned over $150 million through his NBA contracts and still ended up broke due to his love for spending money.

?76ers legend’s gambling antics could surprise Michael Jordan

Back in the 1990s, former 76ers guard Allen Iverson made a name for himself on and off the court during his stint with Philadelphia from 1996-2006. The 11-time All-Star averaged 26.7 PPG in 914 games during his 14-season-long career. Iverson earned an estimated career earning of $154,770,668, excluding his endorsement deals and a lifetime contract with Reebok. However, despite earning so much money, Iverson has a net worth of a shocking $1 million currently.

As per reports, Allen Iverson spent a lot of money after making it big with the 76ers. He reportedly bought a Lamborghini & a Bentley, flew in private jets, and even bought a $5 million mansion. His lavish lifestyle was costing him big, with his gambling and partying habits contributing as well.

As per Rebound, “But eventually he started splurging too hard because, by the early 2000s, AI was throwing his money away, spending 40K a night at the club, dropping hundreds of thousands at the casino, even giving away six-figure cars to his teammates. So by the time AI retired, he was neck deep, spending over 360 thousand dollars every month. That’s 4.3 million a year and without the NBA money coming.”

READ MORE: ?He Dishonored Me So I Don?t Owe Him Any More Honor?: Michael Jordan, Accused of Being $1.2 Million in Debt, Silenced the National Golf Controversy in 1993

The way AI spent thousands of dollars during his gambling sprees over the years would have possibly shocked Michael Jordan. All this resulted in the NBA legend having to declare bankruptcy at one point in time. At the same time, Iverson’s deal with Reebok has kept his ship afloat since his retirement despite the heavy loss of money.

Iverson’s deal with Reebok ensures $32 million in future

Back in 2001, Allen Iverson signed a lifetime deal with the sports apparel company Reebok after leading the 76ers to the NBA Finals. The lifetime deal with Reebok guarantees Iverson a $32 million trust which he will receive upon turning 55. As per reports, the 1997 Rookie of the Year receives an $800,000 salary from Adidas, which acquired Reebok in 2005.

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