Despite earning $154 million on Philadelphia 76ers paychecks alone, Allen Iverson found himself in financial doldrums by 2012. Now, thanks to new revelations made by former teammate and current Los Angeles Clippers forward Matt Barnes, we know part of the reason why. Allen Iverson used to regularly drop $30,000 to $40,000 per night at strip clubs.
“Allen was the first guy that showed me how NBA players spend money in strip clubs,” Barnes told Sports Illustrated in a long feature by Chris Ballard. “That guy went. HARD.”
He added: “He’d throw $30,000, $40,000 every time we went.”
Barnes admitted, however, he didn’t just watch in awe as Allen Iverson made it rain, nay, torrential downpour. The 35-year-old, who’s currently signed on a three-year $11 million deal, says, back before he made millions, he used to pocket some of Iverson’s strip club wealth.
“He’d throw so much money, and this was when I was first in the league, that I used to take my foot and scoop the s— under my chair and either re-throw it or put some in my pocket,” Barnes said, adding, “I’m like, ‘You realize what I can do with this money?’ ”
Allen Iverson, 39, who did a stint after his NBA career in Turkey’s professional basketball league, won’t be struggling financially forever. Per The Washington Post’s Kent Babb, who wrote a lengthy profile of Allen Iverson in 2013, “Reebok signed him to a huge endorsement deal, including a deferred trust worth more than $30 million, a lump sum he can’t touch until he turns 55.”