There was a moment in time when Allen Iverson was considered to be basketball's new demi-God. He regularly led the NBA in season scoring, is still second only to Michael Jordan in scoring during playoffs, and was named to the NBA All-Star team eleven times. Unfortunately, he was also difficult to work with, had some glaring issues with alcohol, and gambling, and his marriage was less than ideal. In short, he was excellent on the court, but is behavior was so erratic that it made it hard to rely on him during a game, or to even trust that the would show up. Eventually, he burnt enough bridges within the NBA that his only option was to take a job overseas with a Turkish team in the second-tier of the pan-European league. It was widely known that he made the move for the money, but it turned out his gambling debts and spending sprees had left him over $150 million in debt. When he returned to the US this past winter for surgery on a damaged calf muscle, he found himself inches from bankruptcy. He is no longer playing for any team, but a judge has ordered that a set amount be taken from his paycheck in order to begin paying back his debts. He is now fielding offers from basketball teams in other countries. The various foreign teams are attempting to cobble together a salary schedule that they think will entice him. Even an indoor soccer team has thrown their hat in the ring, attempting to cash in on his fame before it fades away. Adding insult to injury, his stunning Colorado home is now in foreclosure.
The 10,445 square foot, 6-bedroom, 6-bath house in Denver, Colorado sports multiple fireplaces, a media room, a safe room, an outdoor playground space, a massive kitchen, and a wine room. It looks out on a lake and has a highly landscaped yard, and winding drive. Mr. Iverson purchased the home in the fall of 2008, for $3.875 million before his career began to implode. He put it on the market a year later, and it has reportedly been sold for approximately $2.85 million. The $1 million difference in price is yet another loss for a basketball player whose career has sadly become lost as well.
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Learn what foreclose means and what you can do to get back on track -How to Deal with Notice of Foreclosure