Allen Iverson is about to make bank from an old Reebok contract.
When Allen Iverson turned 45 on Sunday, he also reached an important milestone—the 10-year mark from when he can collect his $32 million trust fund from Reebok.
As Darren Rovell of The Action Network noted, Iverson famously signed a lifetime deal with Reebok that guaranteed him a $32 million trust when he turns 55.
Iverson signed his deal with the apparel company in 2001, when he was the NBA MVP and just led the Sixers to an NBA Finals appearance. Reebok, which was acquired by Adidas in 2005, pays Iverson an $800,000 yearly salary.
“He’s an iconic personality,” Reebok CEO Matt O’Toole said on the Bloomberg Business of Sports podcast (h/t Katie McInerney of the Philadelphia Inquirer) in 2018. “Let’s get on a plane to Shanghai together. You bring Allen Iverson into a market like that. I’ll stand firmly that he has a big place in basketball and sports history.”
You can read more from our friends at The Bleacher Report.