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Allen Iverson (pictured), who has been deemed “the best pound-for-pound NBA player” by such icons as Lebron James, announced his retirement from the Philadelphia 76ers, even though he hasn’t been an NBA player for nearly four years. The 11-time All-Star and seven-time All-NBA selection, whose estimated wealth hovered around the $200 million mark, is reportedly leaving his beloved sport relatively broke, according to The Inquisitr.

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The 38-year-old shooting guard, who was first drafted by the 76ers in 1996, has reportedly squandered his wealth and is facing financial ruin. In his post-NBA career, “The Answer” has been marred by child support issues, divorce settlement entanglements, debts to jewelers and attorneys, alleged gambling and alcohol addictions, and property foreclosures. At one point this year, there was even talk of jail time for Iverson because he reportedly didn’t have the money to pay his court mandated $8,000-a-month child support payments to his ex-wife, Tawanna, for their five children.

With all of his financial issues, Iverson is said to be worth less than $1 million.

Still, at a press conference on Wednesday, Iverson credited former 76ers coach Larry Brown and his former Georgetown University coach John Thompson, who was at the ceremony, for turning him into a man. Iverson also gave props to the legendary baller Michael Jordan for being an inspiration. “I have to thank Michael Jordan for giving me the vision. Without that vision, it just wouldn’t have been possible. He made me want to play basketball,” Iverson added. “He basically showed me the way and gave me that path.”

Iverson was moved to tears when he spoke of former teammate, Aaron Mckie, whom he credits as being his shoulder to cry on during a few of the most turbulent times in his life. According to Iverson, if Mckie hadn’t been his rock, instead of making one million mistakes, he would have made two million.  “He was my teammate and friend…helped me with a lot of personal issues I had.”

We do wish you well A.I.!

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