Allen Iverson, former NBA star, is doing what so many former athletes have done before him.
No, he's not the new owner of a used car dealership…
He's up to his eyeballs in debt!
Iverson is in a nasty divorce battle and court docs have outlined how bad his situation really is.
Allen rakes in a whopping $62,500 a month! Though he spends about $358,376 per month!!
He spends over $100,000 paying off creditors and his mortgage, but he blows money on tons of other things, like $10,000/month of clothing, another ten Gs on groceries, a grand on dry cleaning, $5 Gs a month on entertainment, and another $5,000 for restaurants.
The list goes on and on.
Even though he made over $150 MILLION during his NBA career, he can't sustain this lifestyle forever!
Get your finances under control and start living within your means!
We hope he works out his problems before he's just another broke former athlete.
[Image via AP Images.]
Tags: allen iverson, athlete, athletes, basketball, broke, career, court, divorce, finances, lifestyle, million, money, nba, poor, problems, restaurant, rich, ruin