Inside Allen Iverson's Unbelievable Reebok Contract And A $32M Trust Fund

National Basketball Association (NBA) legend Allen Iverson will celebrate his birthday on June 7.

He will turn 48. This means he will get a year closer to getting the $32 million Reebok Trust Fund, which he was promised to receive when he turns 55.

Iverson signed a long-term contract with the apparel company in 2001 after getting named the NBA’s most valuable player and leading the Sixers to an NBA Finals appearance.

According to the terms of the deal, Iverson will inherit the trust fund exactly on June 7, 2030.

Iverson played 14 years in the NBA as both the shooting guard and point guard for the Philadelphia 76ers, Denver Nuggets, Detroit Pistons and Memphis Grizzlies.

He retired in October 2013, saying he already lost his desire to play the sport.

Aside from the trust fund, the Reebok lifetime contract provided the former basketball superstar with an $800,000 salary per year for the rest of his life.

The world learned about the Reebok trust fund in the wake of Iverson’s divorce from his wife Tawanna Turner in March 2010.

Iverson was accused of drinking heavily, gambling and blowing through his NBA fortune. Turner claimed she had to sell some of their valuable items to pay their children’s school tuition.

When Turner learned about the trust fund, she reportedly petitioned for a judge to give her half of the $800,000 annual pension and half of the $32 million trust fund when it gets distributed in 2030.

The divorce was finalized in 2013. Turner walked away with $3 million, child support for their five kids and a percentage of the future profits of his Reebok endorsement.

The two reportedly got back together after the divorce, but none of them confirmed the speculations.

To date, Iverson’s net worth is believed to be around $1 million, as per Celebrity Net Worth.