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Allen Iverson

Buried in Bills ...

But Drives a Maybach

12/4/2012 12:30 AM PST BY TMZ STAFF
EXCLUSIVE

1202_allen_iverson_gettyFormer NBA star Allen Iverson is digging himself into a giant financial hole -- with monthly bills that largely outweigh his monthly income -- but the good news is ... he's still got his fancy-schmancy Maybach.

Allen recently filed docs in GA court as part of his nasty divorce battle with his ex Tawanna Iverson which outline his dire financial situation.

According to docs, Allen brings in $62,500 in monthly income, but his expenses are FAR, FAR, greater ... costing him a cool $358,376.66 PER MONTH!!!!

So where does all his money go?

A large chunk -- $125,749.33 to be exact -- is spent paying off various creditors (like his jeweler) ... and some goes to his mortgages (but not for long, since his ATL crib is about to be auctioned off).

But Allen says he blows a lot on OTHER expenses too ... like $10,000/month on clothes, $10,000/month on grocery/house items, $1,000/month on dry cleaning, $5,000/month on entertainment, $5,000/month on restaurants ... and so on.

All in all, Iverson -- who reportedly made over $150 MILLION during his NBA career -- says he ends up in the hole each month to tune of $295,876.66. Ouch.

Despite the mounting debt though, he's still got his Maybach (which is fully paid off) ... and reportedly worth between $340k - $400k.

1202_maybachusa-com_CAR

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106 COMMENTS

No Avatar
16.

It's Me    

THAT is one UGLY car!!!!!

656 days ago
17.

ReaderInMI    

Currently showing on Oxygen is: My Shopping Addiction. He should sign up. I don't know who he is feeding, funding, and entertaining for $20k a month. However, he needs to scale back and live within his monthly budget. Which most people don't make in a year.

656 days ago
18.

Peter Popoff    

People wishing he goes broke or anybody goes broke lets me know your broke and always will be. But it's funny how they don't understand the effort it takes to care about others business could be spent on getting your own weight up!

656 days ago
19.

accopro    

With a financial plan like that you can bet he voted for Obama.

656 days ago
20.

Gretel    

Too bad for him. The last time I bought a new car it was already 2 years old. My bills come in and are paid the same day. I make sure I live within my means. I'd like nice stuff too, and once in a while I can get it for my family or myself but to squander more money than real people will see in decades upon decades? Shame on him. What's wrong with these people?

656 days ago
21.

Dubbz360    

This is actually sad. Many young athletes go through this because of lack of education

656 days ago
22.

LRT    

A FOOL and his money are soon parted!

656 days ago
23.

anony    

A lot of these pro athletes don't realize that being rich and stupid is no victory.

656 days ago
24.

roll3567    

trade in the maybach for a van down by the river

656 days ago
25.

Meanie    

150 million over his career. What a fg moron. Then again, they're not so smart with the math skills.

656 days ago
26.

royalredus    

Woo! Beautiful car, Allen! I hope the heater works since you'll be living there this winter. Hee hee...

656 days ago
27.

wiseonit.com    

I think that it should be mandatory that any PRO organization have financial classes and advisors for these athletes when the first sign them. Show them how to be responsible with there money....nothing screams irresponsible when your Maybach is fully paid for but you can't afford daily living.

I'm no fan of Iverson but he was never taught how to manage his money. Along with every other PRO athlete. They are given all this money but they aren't taught to live within there means and end up where they started from.

656 days ago
28.

JimmyB    

They stopped making Maybachs.

656 days ago
29.

bboy    

he's living his life, we're reading about his life...who's really the loser here...do you expect him to drive around in a Honda Civic, wear Gap clothes, live in the projects & eat pizza everyday so he can pay the Gov't THEIR share?! you guys are soooo brainwashed

656 days ago
30.

redrock64    

He's broke cause he has to provide for all his "friends" oops "posse", I mean lowlifes!

656 days ago
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