Former NBA superstar Allen Iverson is taking a swing at the golf industry. Iverson, who once lost a $200 million fortune, is now attempting to rebuild his wealth through a venture into golf.
What Happened: This new endeavor is in partnership with sportswear giant Reebok and fellow NBA legend Shaquille O'Neal. Iverson, who amassed $155 million during his 17-year NBA career, found himself filing for bankruptcy in 2012.
His financial downfall was a result of excessive spending on luxury cars, jewelry, and extravagant nights out, reports the Talksport.
However, Iverson’s financial prospects improved significantly after striking a deal with Reebok. This partnership guarantees him an annual income of $800,000 and a $32 million trust fund when he turns 55.
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In 2020, he took on the role of vice-president of the basketball division at Reebok, working under NBA icon, Shaquille O'Neal.
In addition to this, Iverson has ventured into the cannabis industry, launching his own strain in collaboration with ex-NBA star Al Harrington, founder of cannabis company Viola.
Despite his previous financial struggles, Iverson’s net worth is now estimated at $1 million.
Why It Matters: Reebok, which was bought by Authentic Brands Group in 2021 for approximately $2.5 billion, is now launching a golf range.
The new line features the Question Golf, a shoe that pays homage to Iverson and his basketball silhouette. This venture into golf represents a significant shift for Iverson, who is best known for his achievements on the basketball court.
It also signifies a strategic move by Reebok to diversify its product offerings and tap into the lucrative golf market.
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