How Reebok Saved Allen Iverson from Going Broke
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- čas přidán 29. 06. 2021
- Allen Iverson's shoe deal with Reebok will likely be the best endorsement deal we'll ever see between an athlete and a brand.
Allen Iverson has been receiving $800,000 annually from Reebok since he signed the contract AND he will receive a $32 million payout from a trust setup by Reebok in 2030 when he turns 55.
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SOURCES:
Shoe Deal
bleacherreport.com/articles/2...
Oral history of AI's sneaker deal
www.nicekicks.com/rise-allen-...
Champs CZcamsVideo
• Video
The Player's Tribune Article
www.theplayerstribune.com/art...
TMZ house going to auction story
www.tmz.com/2012/12/01/allen-...
It wasn’t Reebok it was his friend/manager who put the trust mandatory in the negotiation for his friend, because he knew How Chuck was with his money.
Yep
It was his wife!!!
@@christopherhawkins7388 what are you talking about, Gary isn’t his wife lol your gossiping, I got footage for him and his friends you know nothing. Since they got a divorce it just means she gets none of it.
@getme outre I see comprehension is tuff especially during this pandemic lmao, your an idiot I said I got footage for not of, him and his friends, meaning my team was paid to get footage for them. I have shot several events foe them they were involved with in their community. It’s ok the education system in your town is to blame, scratch that your parents are to blame. I guess if words aren’t followed by an emoji you can’t understand.
...And now his ex-wife wants half.
I will never get married, again.
Reebok didn't save Allen Iverson. His close friend with financial literacy did. Reebok wouldn't have gave a flying f'+!
This man coming with the facts.... FACTS!
Thank you
Saving someone doesn’t have anything to do with caring about them and
@@sufimuslimlion4114?? Foh 😆
Biblical facts
Next to a Jordan, I think A.I.'s shoe may be the most iconic.
I dunno, The Penny Hardaway shoes were really popular too.
IMO they’re ugly lol
Kobes? Paytons?
Allen Iverson receives such high praise but still, it's not enough. Allen Iverson is still criminally underappreciated
I see what you did there.
With new analysis in the game he just looks like an inefficient chugger
Most overrated player in the last 20 years
Just wait till he dies all the fake people will show him love like they did to nipsey
buddy lit tiny crap he did wrong WAS NOTHING and he did young..nobody gives crap in the real would at petty little crime he does when he youngster. nowadays nobody would care even with social media, it was the timing. you have probably done worse things just not caught
When you come from nothing, hungry at night, then you’re given a large sum of money, you’re not thinking about “investing.”
Is that an excuse? Thats even more reason to educate yourself on how to keep the money you've acquired.
@@sheaquintin1695 Education starts in the home, with fathers. 90% of prisoners didn’t have fathers in the home. The overwhelming majority of successful black athletes didn’t have fathers. Many of them have gone broke. The ones who did not go broke had someone to mentor and guide them. Marshawn lynch is an example of a guy who will never go broke and who is behind the scenes constantly mentoring and guiding NFL athletes to not waste their money. Lamelo Ball is an example of a athlete who had a father in the home and who is quoted as saying “I’ll never spend any of my NBA money, I’m too smart for that.“ he will easily make a quarter billion dollars in NBA checks and will never spend any of them. He will blow all of his endorsement money on lavish things. He had his dad at home.
My brother won a very large settlement nearly 20 years ago from being injured as a child, he was flat broke inside of one month. I tried to protect him from going bro but I was viewed as a predator as the family feast away at his fortune. There is a lot of nuance here.
@@extremelylucky999 ahh I understand now your perspective, thankyou for the clarification. I agree with your assessment completely, well said.
Lpo
@@sheaquintin1695 Education loses to emotion and habit. Knowing is one thing. Discipline is another.
What An amazing ending! Future professional Athletes need to be watching this video and learning from these mistakes. It’s a pattern
Thankfully now teams have guys talk to financial advisor's right away now so its alot less common now still happens but atlest the leagues and teams are not just sending them into the wild alone ...also agents are better now they hate investment ppl on staff still a long way to go cause guys are still going broke just not as many and as fast
This was an excellent vid man!
Saying he had a questionable pass wrong. Lazy work.
BRO YOU HAVE THE FACE OF LIKE A STOCK CHARACTER IN A GAME BEFORE YOU CUSTOMIZE HIM
No tf 😂
If I was that wealthy I’d make sure my kids and their kids and their kids and their kids and their kids and their kids and their kids and their kids and their kids and their kids were set for life. You’d see me driving a Corolla and wearing clothes from Walmart like how I do now
"He got married, excuse me he got divorce" haha love it!
Marriage is a ticking time bomb.
Their still together
@@8thdayadventist911 said no millionaire EVER
@@baileyjohn5010 ok Bailey
@@baileyjohn5010 sure.... even Bill Gates is sweating because if his divorce. Always have a prenup.
Two things that were undervalued:
1) Reebok.
2) Allen Iverson.
That’s awesome that they put a trust fund for him that he can’t touch till 2030. So he should be ok for life. I’m not a big AI fan but I’m a huge Reebok fan and I gotta say it was a stand up move.
You like Reebok more than AI???
i'm so thankful for your videos and the knowledge you are passing, thank you Spencer
Speaking of (essentially) lifetime contracts, you should do a video on Bobby Bonilla's MLB contract. He just got paid today another $1.13 million for doing nothing.
Bobby Bonilla ain't got shit on AI!
Now you have players not even an All-Star making $32 million a season.
Like who?
He maybe all-star but his make more money than AI Ben Simmons
After taxes around 16 million a yr
Thank you Spencer. I requested this a month or two ago 👍🏿
Well made spencer. I've been binging your stuff for the past 3 days.
Those Reebok's had really great heel and ankle support.
Dude I know you're a good CZcamsr but this was another level! storytelling journalism pop culture you were firing and all cylinders!!!!! 👌👌👌👌👌
That man had an impact on my life so it’s super refreshing to hear that Reebok took care of him like they did
Awesome video, bout to put on my Iverson throwback🤣👏🏾💪🏾
I know to alot of people going broke when you've made tens of millions seems impossible ,but they compare that money to their current lifestyle and not the lifestyle of a 23 year old celebrity with a sh!t ton of bills and poor money management skills
What’s bills besides the one your dumbass gets?😂 I swear I wouldn’t have ever gone broke if I started w 1 milly 😂
Yeah, I'm always amazed when the young bros but the mansions. Hey, they can afford it today. Tomorrow?
@@chrismachabee3128 exactly! Like it’s basic math. You’re not gonna be in the nba forever 😂 it’s literally great money for some years, learn to invest or live moderately and make you millions last so you won’t ever have to work again
How iverson saved Reebok from going broke
Worked out for both parties🙌🏽💪🏽
Your videos are great Spencer. Keep up the great content.
This was a great piece, thank you!
Earliest I have ever been to a video. Hello World!
Thanks for doing this research and I am also glad he is going to be good for the rest of his life. He was an inspiration for me growing up.
Just stumbled across your channel ! Well done & I dig your candor !
You mean how John Thompson kept Iverson from going broke. He's the one that set that deal up for Iverson
great post! your content is getting better and better! keep it up bro.
My boy back yessssss
Always love and respect for the ANSWER!!!!!
Spencer you the GOAT for this man🐐🔥🔥🔥
Phenomenal video Spencer!
Unfortunately Reebok couldn’t save itself, even despite getting bought by Adidas. Loved Reebok as much as the Nikes in the 90s.
True
Adidas owns Reebok? Never knew that/or I forgot. Nike and Adidas are the 2 giants so guess it makes sense
If adidas put more effort into reebok, I do believe it would have a shot. Need new good designs/models. But seems like the main focus for Reebok is the fitness space.
@@hou.tex. You're right. But unfortunately, they've lost their 2 biggest presence in Crossfit and UFC. They were doing well with their Nanos in the Crossfit/HIIT community, until Nike came in with their METCON and SuperRep and demolished them completely. They didn't even stand a chance. Adidas tried to help out by incorporating some of their tech like the Boost, but ultimately, Reeboks best sellers were their classic nostalgia models. They just couldn't get rid of their new models off the shelves.
Reebok will eventually rise up again just need some rebranding and new direction
Iverson is NBA's Coolest Superstar 😎
also one of the dumbness, right there with Sprewell and Antoine Walker
I enjoy the mature sporks talk. You can tell Spencer grew up a big sports fan but now is more interested in the business and stories of sport versus games and box scores. I myself, I find myself very interested in sports deals and business more-so than actual games. Lots of creative strategy and great stories going on in the background of sport.
allen is very humble guy who is known for helping and giving to those that around him
Imagine paying 125k a month to your jeweler. Shit is so dumb. Smh
It’s not dumb when you get to write off for taxes as an entertainer you write off as costuming or wardrobing, it’s really not that stupid.
@@MikeHunt-qu6ef He just wants to pick something out to complain about
@@MikeHunt-qu6ef even when you "write off" your taxes, you don't get it back. What it does is that it leverages or reduce your tax. For example, I have a car rental business, due to the nature of the business, either I pay x amount of tax or buy a new AMG for $180,000, therefor significantly lowering my tax. But in the end, I still spent money on my new vehicle.
@@trcs3079 Exactly--a tax writeoff doesn't mean "it cancels everything/the purchase out"... not sure where people get this notion from...
@@trcs3079 who said anything about getting it back, maybe you should try to get your comprehension back. The comment was about being dumb, and buying expensive jewelry at this volume a month isn’t dumb. When your in the entertainment industry your job is for people to want to watch you, this helps. I didn’t make a comment saying you’ll get everything back, but technically if you have a good tax guy you could get most. Through several sole proprietorship expense write off as well, but again your comment makes no sense, I never said anything close to that. Again it was about is it being dumb.
I watched that first game vs the Lakers. Amazing game.
Love these Athlete videos Spencer! Such a wild world!
I like your videos man. Cool stuff
I was waiting for this one.
Oh this is a good video and I’m seconds into it. Thanks for the research and time to edit. I really like this video already and always wondered this
Awesome video!
This is a gem 🔥
another huge point with the Questions was that they were actually amazing to paly in. so many good looking shoes in the 90s destroyed your feet. the Questions were light, supportive but also technically a very good shoe. the looks were defining and we all know AND1 based EVERYTHING from AI style.
the only other non Nike shoes that were this good were the FILA Grant Hills.
Made in China. Futures destroyed.
What ever happened with the grant hill sneaker tho I mean I had his shoe an after that I ain't see them take off say like how the Jordan shoe had
Wow
Hard to believe someone could spend so much money in such a short period of time. That money should have been in invested and earning millions for his grandkids
Do you really think that Bubba is broke🤭
Lol I played pickup with him at St Joe’s on my College Visit for baseball… and he was well-below 6 ft!
I’m 6’4, grew up wearing Iversons, and it was a dream come true to watch him school 7 footers we were up against. Never seen anyone make the game look so easy.
HOTTEST CZcams CHANNEL KEEP DOING YOUR THING BRO THANK YOU FOR EVERYTHING! 💙
Eee letsss gooo I luv ai thx spencer!!!
This is why I respect Reebok. They knew the trend of these players and set a trust aside for one of my favorite players. Salute to Reebok.
That came from Bubba camp not Reebok
Great content
Wow damn. Great vid
This was a well put video
A family friend used to own a gentleman's club out here in L.A he said back in the day AI came in a few times and spent no less than 50k every time after his games.
He used to blow that much daily at the casino when he was in Detroit. He actually got banned because of the company he kept.
@@alwillk he still at it he up in the mgm National Harbor I see dude very often
always wanted those Reebok Answer's as a kid
That trust fund is AIs biggest W
Him giving the Bentley away is why he got that deal that's real love right there all u can do is try your best to make someone's day bet u Larry Hughes never forgot that.
A Philadelphia Inquirer article from several years ago said that as a result of his divorce his ex wife will be getting half of that trust fund, which legally makes sense since they were married when he signed that contract with Reebok.
Whoever get A.I to ink that deal is a legend. And Larry Hughes freakin lucky I would've been thrilled if someone gave me a civic what more a bentley dang
Fun fact : In 1973 Spencer Haywood turned down 10% of Nike stock but instead went with $100,000. That 10% now is worth $8.6 billions....
well $100,000 was a LOT of money in 1973, especially for someone who is poor. And you never know if a company will do that well, plenty of companies have folded. Back then most people didn't really know what to do when it came to investing.
@Abel B. this is the 1970s though Nike was literally nothing and 600,000 is much safer than a just starting out company
Yep the sad part was no one told him about stock growing up and he missed out on tones of money.
I love AI, so I’m biased. Great decision Reebok.
Damn! Talk about being a brand ambassador.
Nobody even remembers this. Iverson turned down at least 30 million dollars to play in Turkey and China at the end of his NBA career. NO taxes.
He would have paid taxes on that 30 mill if he would have brought it into United states...he would have had to open a account over there an through wise investment management and advisors to invest money an also account for inflation too so government greedy paws not getting anything
He chose his family over money...he also declined a deal from alibaba to be a sponsor for them which wouldve made him a billionaire by now
spencer you got a good channel
Thanks!
I just came to say I misread that Reebok saved us from an alien invasion...
That would be some great fan fiction
They did that by giving the aliens a lifetime supply of Reebok gear (they were huge fans of AI)
😂😂😂😂😂😂👍👍👍👍👍👍
@@crosswiz6 bro I hope that this is a joke and thats'd not how you actually feel about mexicans.
I had the red and white ones back in the day and I still rock the white answers...bc they just retro'd them like 2 months ago or so..
They run small FYI
Those 1st Iverson's are still some of the most comfortable basketball shoes of all-time in many peoples opinion. I know people who bought 6 or 7 new pairs over the years...
he was my idol at the time. I remember I went to the mall in the midst of SARS and bought a pair of this signature shoes AI 5
Copped them “Step Over” Reebok Answer IVs last month!! 🔥🔥🔥
Dope Video
met him in person where he lives in Jacksonville, honestly man one of the nicest dudes and humble.
Sold. Clicked as soon as I saw Allen Iverson, my fav player ever
Great video I love AI he made me believe and start appreciating short players as he is.... And I was back then...
I didn't even know much about basketball at the time, but I wear his shoes too when I was a teenager.
God! I love how reebok really was looking out for him!
Good shit. A legend like that should never go broke
A legend makes himself broke.
Spencer ,I think it's about time you started a second channel where you can update us on your current investments ,how you generate video ideas ,your car business and random things you wouldn't post on the main channel
Glad there was a good team to give him financial support. It be nice to have deals like that structure for athletes.
I wish you had a bigger platform man you're really dropping gems here. Is there a way to contact you I have some questions
The 96 draft is my personal favorite draft of all time.
Yes very talented year. 84 has to be my top, players drafted-Hakeem the dream, Jordan, charley Barkley, John Stockton,micheal cage,Bernard Thompson, Kevin Willis.
Minorities are always confused when wealthy individuals go broke but a lot of people are. "it's not what you MAKE, its what you KEEP"
One Billion dollars in REVENUE sounds nice but what if I told you that the profit was 10 Million, it wouldnt sound so nice now would it?
Yep. For some reason a lot of people don't know the difference between revenue and profit.
I don’t think it’s just a thing of minorities being confused, one day you’ll understand
Minorities meaning the non wealthy correct?
great vid but bro, i wanna know what mic are you using haha you sound so clear despite the distance
That “Question” shoe was the only one that could actually rival Js at the time, especially the 11s which had dropped around a year earlier. I had the all white highs with the icy blue soles........LOVED them!!
I intimately remember this... because a family member was at the time a Sr. Exec with Reebok at the time. AI was really, really a nice guy with a big heart. And Reebok was trying hard with a variety of designs. They were great shoes but of I'm honest, it was the huge trust and having Gaskins literally be like the angel on his shoulder helped him so much. There are some stories I could share man... not that AI was doing bad things or anything, but Q really was cool for him IMO. But it was a revolutionary deal that was thought to be a potential blueprint for the future.
To put it simple too - there were folks upset about how the court was trying to derail the kids future. People fought for him to have that trust in his contract.
Looking forward to the sequel "How Allen Iverson saved Reebok from going broke." lol
Good story/detective work.
Met him one day in Buckhead, ATL, he wasn't very friendly, but did reluctantly agree to take a picture, LOL
Lol yeah AI ain’t with the friendly shit he comes off a little stand-off ish but he cool tho
he dont gotta be friendly to you...you his friend?
Yea he's not the friendliest. But I can understand that given his life experience.
My all time favorite player right here
HELL no rebok makes their money back from that deal, but i am glad fro AI since he was so generous and seems like not bad guy
Thanks for another great video. You got to do a video on Bobby Bonilla Day. Every July 1st he gets $1.4M
Finessed royally
Wow love it. They really. Took care of Iverson. A beautiful thing.
It was his manager and I believe childhood coach who put that in the deal. He’d known him for years and genuinely had his best interest at heart, clearly
Can you do a video on why athletes, musicians, celebrities, etc, lose their homes to foreclosure, when they could straight up buy their homes?
Oh yeah that would be good
Because they can use that money for other investments if they want to. Obviously if they lose it, things didn’t go as planned. But that’s the initial reason. It’s not smart to tie up millions of dollars when it could be doing other things to make money. Leverage.
Not talking about people who make the smart choice to invest their money, but why instead the “over night” celebrity doesn’t just straight buy their home. They are spending money already and not investing. Just want to understand that flip side mentality
@@OBMATT Oh gotcha. Yeah I’m not sure. Never been in that position lol. Maybe some of them do. But even the ones that don’t invest wisely, still don’t just pay straight cash for a house for the most part. But I’m also kind of a moron, so don’t listen to me lol
@@OBMATT it’s rarely a good thing to just buy property straight out unless you are an investor, financial advisors will advised against that notion.
Heck yeah!!! Man AI is a good person so I'm not surprised that someone including Reebok was looking out for him when that deal was made, Mr. Iverson you deserve it!.
P.s. i would definitely but a new AI shoe! For sure!.
11:59 that would be me in the strip club with A.I. minus the rethrowing part 😂. Matt Barnes was the smart one lol
I think 80% of athletes losing money is from divorce 😅😅😁😂
I resell the Answer IV. Glad I’m contributing to Iverson not going broke.
Practice!?
We talking bout practice. Not a game!
@@danielmontes9730 “We sitting in here, watching Spencer, I’m supposed to be the franchise player, and we in here talking about practice.”
@@bloatedsodium7301 you guys do know the story behind "practice" right..it's sad tbh
Love it
if i were a professional athlete i would NEVER get married. i dont care how strong the feelings are for the girl never ever ever ever
Wait, you can, find the girl get her hooked, call the lawyer, tell him get me an iron-clas re-nup, add some cash in it and get that signed and you are golden. there are marriage contracts and prenup. they go hand in hand to the man with wealth to protect.
Just as an heads up prenup is not iron clad judges find loop hole all the time I believe it's like ten years you have to pay up, that's why alot of man are going red 💊 because that's the only way to protect your wealth as an high value man.
Only overseas with no paperwork.
At least don’t get married during your playing career.
@@TMartins379 nah just don’t do it at all.. not worth it
Reebok are legends for this
Why? Reebok did this one time after making millions from Iverson's likeness. They wouldn't have agreed to so much money if it didn't benefit them. His finance manager was the one that should be a legend for saving Iverson from going bankrupt.