This guy was true idiot.
I watched him play blackjack and lose a bundle in New Orleans before a playoff game. He was drinking at 2 or 3 AM. I bet under on his points, assists, etc and cleaned up.
Better yet - a friend of a friend worked for one of the teams he played on (I think the sixers but might have been another). Anyways, he told me of a time when AI's mom called AI cause she couldn't find her $100,000+ Mercedes at an airport parking lot. So what did AI do? He instructed his manager to call the dealership and have a new one delivered to mom at the airport.
I watched him play blackjack and lose a bundle in New Orleans before a playoff game. He was drinking at 2 or 3 AM. I bet under on his points, assists, etc and cleaned up.
Better yet - a friend of a friend worked for one of the teams he played on (I think the sixers but might have been another). Anyways, he told me of a time when AI's mom called AI cause she couldn't find her $100,000+ Mercedes at an airport parking lot. So what did AI do? He instructed his manager to call the dealership and have a new one delivered to mom at the airport.
I've never understood why extremely wealthy people gamble. Seriously, what's the point? If I'm worth $100 mil and I win $50k playing blackjack...whoopee. Big deal. I know some people will say I'm full of crap, but I'd have zero desire to gamble on anything if I was worth that much. There is no real upside to doing it.
I'd imagine the majority of NBA players who make that much money just think there is an endless supply in the bank and believe they can keep spending at whatever rate they feel like. When you can afford anything and everything for years, you get used to being able to do that. Hell, even Michael Jackson blew through a good portion of his fortune.
My prediction for the next high-profile athlete to go down this road? LeBron James. He let his high school friends who have zero education or experience talk him into 'keeping it real' by managing his entire fortune, and I'd say the odds are more in favor of them blowing it than making it grow.
everyone of these athletes who need to gamble for whatever reason will end up broke because they think there better than everyone won't take a 1 single lose and be fine and think they can win at everything forever . I agree I could see lebron being the next superstar to be broke 2 years after he's done.
http://realestate.aol.com/blog/2013...tlnkusaolp00000058&&ncid=txtlnkusaolp00000058
[h=1]Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost[/h]
By AOL Real Estate Editors
| Posted Feb 7th 2013 10:34AM 79 Comments
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Former NBA star Allen Iverson isn't having a good week. First, a judge skewered him Tuesday for bad parenting skills, and now he's lost his giant Atlanta mansion to foreclosure. Iverson's nearly 10,000-square-foot home on Atlanta's exclusive West Paces Ferry Road had been on the market for $2.5 million, but it was sold at auction Tuesday back to Georgia Primary Bank, the Atlanta Journal-Constitution reported. Iverson built the home for $4.5 million in 2009 and lived there with his wife and five kids, but he and his wife recently divorced. A current listing on the house shows the asking price at $2.8 million.
Don't think this is the first time Iverson has lost a home to foreclosure. Back in 2011, when he was shooting for the Denver Nuggets, Iverson also lost his posh $3.875 million Cherry Hills, Colo., mansion to foreclosure after defaulting on the mortgage, according to the Denver Post. Luckily, a buyer had entered into contract to buy the home before Iverson defaulted, the Post said.
Iverson's Atlanta home is quite the luxury estate, one you wouldn't expect to see on the auction block. The listing calls it "one of, if not the finest, private gated estates ever to become available in Atlanta." Iverson had sunk $4.5 million into building it with a custom bar, gourmet kitchen, master suite with "spa-like" bath and luxury accents such as copper gutters. Click through the gallery below to see the amazing home Iverson has lost.
[h=1]Allen Iverson Foreclosure: See the $2.8 Million Atlanta Home Ex-NBA Star Lost[/h]
| Posted Feb 7th 2013 10:34AM 79 Comments 2654239418425
Share on Tumblr
Former NBA star Allen Iverson isn't having a good week. First, a judge skewered him Tuesday for bad parenting skills, and now he's lost his giant Atlanta mansion to foreclosure. Iverson's nearly 10,000-square-foot home on Atlanta's exclusive West Paces Ferry Road had been on the market for $2.5 million, but it was sold at auction Tuesday back to Georgia Primary Bank, the Atlanta Journal-Constitution reported. Iverson built the home for $4.5 million in 2009 and lived there with his wife and five kids, but he and his wife recently divorced. A current listing on the house shows the asking price at $2.8 million.
Iverson's Atlanta home is quite the luxury estate, one you wouldn't expect to see on the auction block. The listing calls it "one of, if not the finest, private gated estates ever to become available in Atlanta." Iverson had sunk $4.5 million into building it with a custom bar, gourmet kitchen, master suite with "spa-like" bath and luxury accents such as copper gutters. Click through the gallery below to see the amazing home Iverson has lost.
