Basketball Hall of Famer Allen Iverson recently offered his financial advice to NBA rookies during the second stop of the BIG3 tournament stop in Charlotte, North Carolina. After being on the verge of going broke following the end of his professional basketball career, Iverson has bounced back in full force by headlining this basketball tour and still cashing in endorsement deals like his recent Atlanta Braves commercial. Now, “The Answer” has $30M from Reebok awaiting him when he turns 55 in 2030. It’s safe to say Iverson has bounced back well for himself after facing the permanent label of being another broke former athlete.
Here are some athletes that did well and some athletes that didn’t do so well after leaving the game.
Doing well …
- Magic Johnson
Not much needs to be said about this mogul. Johnson currently invests and/or owns Team Liquid from eSports, MLS-expansion team LAFC, the Los Angeles Dodgers and the Los Angeles Sparks. Johnson sold his 105 Starbucks enterprises for an estimated $27M while selling his 4.5 percent of the Lakers in the same time period.
- Shaquille O’Neal
The TNT analyst made headlines last October when he bought the Krispy Kreme on Ponce De Leon Ave. in Atlanta. Shaq also owns stock in Pre-IPO Google, 150 car washes, Muscle Milk, vitaminwater, and some Las Vegas nightclubs.
- Oscar De La Hoya
The Golden Boy Promotions CEO and chairman has a net worth of $200M. These days, it’s nearly impossible to watch a big boxing match and not hear that any of the fights on the card are being promoted by his or Floyd Mayweather’s company.
Not so well …
- Antoine Walker
The three-time NBA All-Star made headlines when he filed for bankruptcy in 2010. Attempting to make his debts up, he even signed with a team in Puerto Rico but was cut by the squad after eight games of action. Walker even sued his ex-girlfriend Evelyn Lozada in an attempt to get some money back. In 2013, Walker was declared debt free and he was recently giving financial advice to incoming NBA rookies to not make the same mistakes he did at 19 years old.
- Evander Holyfield
The former undisputed boxing champion of the world has famously battled financial issues over the last decade. Holyfield had to auction off his mansion and was threatened to lose his license after owing $300K in child support.
- Sheryl Swoopes
The women’s basketball icon earned over $50M over the course of her career. She was the first women’s basketball player to ink a shoe deal. News surfaced in 2009 after being cut by the Seattle Storm that she couldn’t even pay rent.
