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NBA Legend Allen Iverson’s Lifetime Contract with Reebok Is ‘Probably One Of the Smartest Contract Signings In NBA History.’ The Answer Will Receive a $32 Million Payout.

Allen Iverson is considered one of the most influential basketball players of all time for his prowess on the court as well as contributions to popular culture. Despite a barrage of financial struggles, Iverson is still reaping the benefits of NBA fame with lifetime brand deals and other partnerships. 

SCOTTSDALE, AZ – FEBRUARY 13: Allen Iverson attends the Reebok and Allen Iverson hosted party to celebrate their 13-year relationship and announce three new initiatives on February 13, 2009 in Scottsdale, AZ. (Photo by Gene Lower/Getty Images for Reebok)

When Iverson retired in 2010, he’d earned an estimated $200 million from his NBA salary and endorsement deals. And within two years, Iverson had lost his fortune as a result of lavish spending, an expensive divorce and a host of other financial setbacks. Iverson was ultimately forced to file bankruptcy in 2012 after he could not afford to pay a jeweler over $900,000, according to AfroTech. 

Iverson might not have the earnings he once had as an NBA player, but he has been able to land lucrative deals that allow him to live comfortably. According to Celebrity Net Worth, Iverson has a $1 million in net worth. 

Now 47, on his 55th birthday he is set to land a $32 million payday from Reebok. In 2001, Iverson landed a lifetime deal with Reebok, according to FadeAwaySports. The deal came as Iverson was one of the most sought-after NBA players for custom sneakers.

After a bidding war with other companies, Iverson decided to partner with Reebok in a deal that has allowed him to remain afloat well after his days as an NBA player. When Iverson signed with Reebok in 2001, he did not take a lump sum payment. Instead, he earns $1 million yearly in dividends plus $800,000 annually over his lifetime. In addition, when Iverson turns 55 in 2030, he will earn $32 million that Reebok saved in a trust fund for the retired basketball player. 

In addition to his lifetime deal with Reebok, Iverson announced in 2021 that he was partnering with former NBA player Al Harrington’s cannabis brand Viola. As the largest Black-owned cannabis operator in the United States, Iverson is being featured in various branded merchandise for the company, a testament to his ongoing contribution to popular culture. 

In a career spanning 14 seasons and included four NBA teams, Iverson is regarded as one of the greatest scorers in NBA history. Playing both shooting guard and point guard, Iverson won several awards such as the NBA Rookie of the Year Award in 1997 and NBA MVP in 2001. He was an 11-time NBA All-Star, winning the All-Star game MVP in 2001. Representing the United States at the 2004 Summer Olympics, Iverson won the bronze medal. 

In 2016 Iverson was inducted into the Naismith Memorial Basketball Hall of Fame and in October 2012 he was named to the NBA 75th Anniversary Team. 

(Photo: Reebok)

Iverson also has another reason to celebrate, Reebok has just reintroduced his ”Answer 1” sneaker, which was originally launched back in 1999. It was last re-released in 2018 and now the OG colorway returned on June 29.

The design has an added touch–Iverson’s signature “I3” logo has been included for the first time. It retails for $170.

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