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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
46.

Shaunie    

I knew he was spending money on jewelry, clothes, and car(s).

656 days ago
47.

Michelle     

Funny how they are always broke when they are served with divorce papers or HAVE to pay child support.

656 days ago
48.

Ben    

Welcome to the real world B****, change your lifestyle and quit whining.

656 days ago
49.

Observer999    

Why are so many black athletes who make $10 million a season so broke three or four years after they retire? And why do so many rappers end up in the same position after briefly getting some fame? It seems TMZ and others have a new one every week whose house is being foreclosed, who's being sued for non-payment of something or other, etc. Must be racism. Yeah, that's it.

656 days ago
50.

Mike L    

The Maybach is worth WAY, WAY less then $340-$400k. Thats what they were new, and they have the worst depreciation on the market. He'd be lucky to get $100k for that if he were to sell it. Many are selling south of 6 figures.

656 days ago
51.

Wicked Witch    

Our troops should be makin more than these morons who chase around a ball and toss it into hoops like trained gorillas.

656 days ago
52.

Cat    

Looks like something my grandma or my local Avon Rep would drive - Can anyone say Mary Kay?

656 days ago
53.

MJ    

He was a pain in the A$$ when he played for Philly. He thought he was too good to have to go to practice, just not a nice person over all. Too bad for his kids, must suck growing half way up with all that luxery and then, nothng but debt and divorcing parents.

656 days ago
54.

Ahmir    

Well apparently he is not as broke as you all think now is he?

656 days ago
55.

Ms.Bentley    

I am not sure where they received the value of his Maybach. The top of the line is $400.000 brand new off the lost. Vehicles loss their value when leaving the lot. If I am not mistaken his is a 2010 so is his wifes and a baby mamas.

656 days ago
56.

a realest    

Let him do what he want to do with cash he earn it you didnt dirtbags

656 days ago
57.

keratoconus209    

Now there's a bright guy, Georgetown should be proud!

656 days ago
58.

nanci    

he should wash his clothes at home, stop going out to eat, eat at home, entertain at home, he will save a good 10,000, and sell his jewellry and that expensive car, but it seems like he dont want to get rid of all those items that is bringing him further in debt

656 days ago
59.

Spicy mag    

At that rate he will be broke in ten years.

656 days ago
60.

FletchGuy    

Can't feel bad for a guy who forgot where he came from made millions and just blows it without a care. Obviously he likes to live in debt. He will be in jail soon enough for being wasteful and stupid.. Allen maybe go back to your roots and remember where real people come from and how they get by on $1000 a month.

656 days ago
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