Allen Iverson is a legendary guard and one of the most loved Philadelphia 76ers of all-time. Yet, less than five years after his career Iverson’s career ended, he is reportedly broke. Michael Carter-Williams mother is attempting to make sure that the latest 76ers phenom guard, doesn’t end up like that, according to Keith Pompey of the Philadelphia Inquirer.
Nowadays, Carter-Zegarowski and her best friend, Tracie Tracy, are running his management team. They are taking a proactive approach to make sure he doesn’t spend all his moneyin a couple of years.
His rookie contract guarantees him $4.5 million over his first two seasons. He could make a total of $10 million if the Sixers pick up the final two seasons of his contract.
But his salary is deposited into a trust he can’t touch for three years.
Certainly this is a smart move by Carter-Williams to allow his mother to take control of his money. His other option would be to try to manage his money as he gains popularity in the league, and is tempted to spend large sums of money, given the amount he is making. Option one sounds a little better to me.
The article also discusses his background growing up, which leads you to think that he comes from a good family, and likely wouldn’t have blown through all of his money. Still, if Carter-Williams’s mother is willing to help him out, then why wouldn’t he take that route?
And don’t worry, MCW still has a little pocket change to live “the life” with.
Carter-Williams is living off endorsement deals with Nike and Panini trading cards.