How Nike Lost Allen Iverson And Reebok Set Him Up For Life
Allen Iverson could have been a Nike athlete, but signing with Reebok set him up for life. Born in Hampton, VA, Iverson was drafted into the NBA in 1996 as the No. 1 overall pick by the Philadelphia 76ers, according to Basketball Reference.
He remained in the league for 14 seasons and is regarded as one of the league’s best, per the NBA. In fact, he was part of the NBA 75th anniversary, which recognized the top 75 players in the league’s history, the outlet noted. He joined a class that includes former players Michael Jordan, Wilt Chamberlain, Tim Duncan, and the late Kobe Bryant, as well as active players such as LeBron James, Kevin Durant, Anthony Davis, and more.
Iverson made $171. 7 million in career earnings while in the league, according to Spotrac. However, he blew through even more than his career earnings, as AFROTECH previously told you , but he is still standing today as a result of strategic moves that include entering the cannabis world in partnership with Black-owned Viola Brands.
He also has real estate investments. He was approved for a 120-unit affordable housing project called “ Iverson Landing,” which will be located in his hometown of Newport News, VA. What’s more, Reebok plays a pivot role in Iverson’s business portfolio.
He signed a 10-year deal with the company in 1996 that was valued at $50 million, ESPN reports. In 2001, he signed a lifetime deal that pays him $800,000 annually. Iverson’s long-term partnership with Reebok came after he was widely projected as a potential Nike athlete following his collegiate career at Georgetown University.