Title: Reasons why Allen Iverson went bankrupt.

Allen Iverson, where is Allen Iverson now? If you can believe it one of the greatest players to ever play the game of basketball is jobless and bankrupt.

            Allen Iverson’s latest news is not what your typical fan of the guy is used to hearing. Not too long ago Allen Iverson was on the news for numerous reasons, but nothing like a filing of bankruptcy. It used to be Allen Iverson crossovers, Allen Iverson shoes, or the notoriously known Allen Iverson practice press conference that went viral immediately after concluding. He was the face of a generation and was on top of the world, and suddenly it all came crashing down. Allen Iverson made over $200 million in his 15-year career and now he’s struggling to afford a McChicken from McDonalds. Here are the reasons why Allen Iverson went broke:

1.    Financially reckless- Allen Iverson would travel everywhere with a 50 man entourage and pay for all of them and buy them lavish gifts such as, jewelry, cars, houses etc. His expenses AFTER filing for bankruptcy totaled over $30,000 a month.

2.    Obsessive Gambling- Iverson blew over $1 million in an Atlantic City Casino on several occasions until he was banned due to unpaid debts.

3.    Nasty Divorce- Iverson went through a divorce with his ex wife where she demanded alimony and child support for their 5 children. During the filing Iverson revealed that he made $62,500 a month but spent a total of $360,000.

4.    No Investments- Of all that $200 million Allen never once had a savings account, trust fund, or invested into anything for his future.

Did you ever think it was possible to make $200 million dollars and end up broke and living on rock bottom? Who would of thought?