Allen Iverson Will Receive $32 Million On His 55th Birthday As Part Of A Lifetime Deal With Reebok

2 Min Read

Allen Iverson is one of the most culturally significant basketball players of recent times. While he may not have enjoyed the same success that Kobe Bryant, Michael Jordan, or LeBron James have enjoyed, Iverson is a former MVP who generated a massive cult following for his exciting style of play.

Due to Iverson’s cultural appeal, he became one of the most in-demand NBA stars for custom sneakers. In the ongoing war for basketball talent between shoe companies, Iverson signed a deal with Reebok in 2001 with a unique stipulation. The contract is meant to last over Iverson’s lifetime.

Rather than agree on an outrageously large yearly sum, Iverson decided to break his contract up over his lifetime and accept $800,000 every year. Reebok has already paid Iverson over $16 million since 2001 in annual payments. However, a massive hit will come in 2030 when Iverson turns 55 and will be entitled to $32 million that Reebok has saved in a trust fund for him. 

It is tough to decipher whether this deal can be called smart, even though it guaranteed Iverson a good amount of money every year. LeBron managed to grow his profile over time and when it came time to sign a new contract with Nike, James managed to get a $1 billion lifetime deal. It isn’t a guaranteed cash sum amount like Iverson’s, but still significant.

AI very publicly has struggled with his finances, with the Reebok sum not being enough to cover Iverson’s lavish expenses after he developed a taste for them as an NBA star.

The $32 million when he is 55 is the saving grace of the deal, as Iverson will hopefully be able to manage his money better and use that to safeguard him into his golden years.  

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Ishaan Bhattacharya is a content manager for Fadeaway World from New Delhi, India. With his expertise in NBA content creation, Ishaan brings a wealth of experience to his role, contributing to the site's authority and reach within the basketball community. Over the last year, Ishaan has interviewed Ray Allen and Mark Tatum, while also covering the 2023 NBA Abu Dhabi Games which saw the Dallas Mavericks take on the Minnesota Timberwolves.Since joining Fadeaway World in March 2022, Ishaan Bhattacharya has become known for his unique perspective on the NBA. He consistently delivers this insight through his daily news coverage and detailed opinion pieces on the most significant topics in the league.Before his tenure at Fadeaway World, Ishaan worked in corporate communications, where he serviced prominent sports brands, including NBA India, Sports18, Amazon Prime Sports, and Royal Challengers Bangalore. This experience in strategic communications for leading sports entities has enhanced his ability to craft impactful narratives and connect with a global audience.A true MFFLer (Mavs Fan for Life, for the uninitiated), Ishaan is a massive fan of the Dallas Mavericks. When he is not upset about Jalen Brunson walking in free agency, you can see Ishaan as an avid gamer and content creator. His passion for basketball extends beyond the Mavericks, as evidenced by his thoughtfully curated NBA Mount Rushmore, featuring LeBron James, Michael Jordan, Kareem Abdul-Jabbar, and Bill Russell—each representing distinct eras and bringing their unique qualities to the game.Featured On: ESPN, Sports Illustrated, Bleacher ReportYahoo Sports, NBA, Fox Sports, The Spun
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