Allen Iverson hits a new financial low
Just one week after declining an invitation to join the Dallas Mavericks' D-League affiliate as he continues his thus-far unsuccessful pursuit of a return to the NBA and days after a family court judge lambasted his parenting during divorce proceedings, former All-NBA guard Allen Iverson has now reportedly lost his Atlanta mansion to foreclosure.
The grim news comes, as it so often does, from TMZ:
Sources close to the sale tell TMZ ... Iverson's bank purchased the mansion [Tuesday] for $2.5 million.
This isn't the first time a mansion owned by Iverson has gone into foreclosure. Back in March 2011, the six-bedroom, nine-bathroom, 6,848-square-foot mansion he'd purchased in Cherry Hills, Colo., while a member of the Denver Nuggets "slip[ped] into foreclosure" after Iverson quit paying a mortgage on which he still reportedly owed $2,572,914. Iverson also met with some strife when parting with the six-bedroom mansion in Villanova, Pa., he'd owned while a member of the Philadelphia 76ers; it sat on the market for three years after he listed it at $6.3 million before eventually selling for just $2.6 million in 2010.
Iverson's personal finances have long been a matter of inquiry — since his last NBA stint with the 76ers ended in February 2010, there have been reports that, despite earning more than $154 million in salary over the course of his 14-year NBA career, plus plenty more in endorsements, the 2000-01 NBA Most Valuable Player is broke.