But Iverson also has to play his cards right if he hopes to see some of that money in the future. Reebok signed Iverson to a lifetime endorsement that includes a $32 million trust fund that he can’t access until he turns 55 in 2030. However, there’s certain marital conditions that the superstar point guard must meet in order to receive that money. In a recent book titled Not a Game: The Incredible Rise and Unthinkable Fall of Allen Iverson, the author of the book, Kent Babb, revealed that Iverson made an agreement with his wife Tawanna back in 2010, in hopes of keeping his marriage alive, that was centered around the trust fund. The post-nuptial agreement states that Iverson agrees to forfeit all of the $32 million is he violates the following terms.
- Can not cheat or have children outside of marriage.
- No physical or verbal abuse.
- Must attend marriage counseling.
- Must speak to therapist about drinking and gambling problems.
- Can never gamble again.
- Must be home by midnight.
- Must discuss any purchases over $5K.
As I’m sure you already guessed it, Iverson failed to live up to these terms and Tawanna refiled the divorce petition and was awarded everything that was in post-nuptial agreement when the divorce became final in 2013 including the $32 million. In a surprising twist, before the divorce became final, Tawanna agreed to give Iverson half of the $32 million Reebok trust when he turns 55. So I guess it’s not a complete loss.
What are your thoughts on Iverson’s latest dilemma? Did his wife do him dirty knowing that he couldn’t uphold his side of the agreement, or was Iverson wrong for breaking his terms?
via: Black Sports Online