Finally, it’s all starting to make sense. While it doesn’t necessarily surprise us to hear that someone like Allen Iverson blew more than $200 million in career earnings, it does raise a certain amount of curiosity. How did he pull it off? Did he take the Siberian Tiger approach to bankruptcy like Mike Tyson? Did he buy too many cars or houses? The details have started to emerge, and we have a solid starting point.
According to Forbes Magazine, Iverson did not like taking luggage with him on road trips. Since the only way to avoid traveling with suitcases is to buy new clothes everywhere you go, that’s exactly what A.I. did.
Perhaps the telltale indicator of Iverson’s divorce from financial reality, however, was an anecdote I received via a former teammate of Iverson’s from his days with the Philadelphia 76ers. This player, raised on a far higher standard of fiduciary responsibility, was amused and stunned by “A.I.’s” money habits. He related how on many road trips Iverson refused to carry baggage, evidently seeking to remain as unencumbered from physical things as he was of basketball defenders. Because of this habit, Iverson would buy a full selection of new clothes, shoes, and other expensive items at each new destination with rolls of cash he carried on his person. Moreover, upon departure, he would leave all those goodies behind in his hotel room or just give them away.
Perfectly reasonable. I hate traveling with luggage, too. There’s always the dilemma concerning if you should check your bags or just go with all carry-on. Who wants to deal with that type of headache? This may have contributed to Iverson going broke, but clearly it was worth it.
Chest bump to Guyism for the storyGoogle+