by Brendan Dunne
Allen Iverson's lifetime endorsement with Reebok includes a $32 million trust fund that Iverson can't access until he turns 55 in 2030. But according to a new book, he might be losing half of that money due to marital issues.
In a new unauthorized biography of Iverson titled Not a Game: The Incredible Rise and Unthinkable Fall of Allen Iverson, author Kent Babb explains that the 76ers All-Star made an agreement in 2010 with his then-wife Tawanna that centered on the fund. According to the book, Iverson signed a postnuptial agreement when he and Tawanna began their divorce process where he agreed to forfeit the entire $32 million to her if he violated its terms. The agreement was initiated by Iverson in hopes that he could win his wife back by proving himself a good husband. Terms of the agreement included:
- 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.
In the book, Babb says that Iverson failed to lived up to the terms. So, Tawanna finalized the divorce process and is now entitled to the entire $32 million Reebok fund – although she's apparently decided to give him half of the money when it's available in 2030.