Postnuptial Agreements and Allen Iverson’s Reebok Coin
We all know about prenuptial agreements. The rich hubby makes the chick he’s upgrading sign some papers, or in Beyonce’s case, you have a no cheating, or let’s say, no-public cheating clause. But what about postnuptial agreements? When a man knows he royally screwed up so badly he’s willing to put his money where his mouth is to win the woman he loves back? Well, this is precisely what former basketball star Allen Iverson did for his ex-wife.
Tawanna Iverson went through her share of strife during their rocky marriage and split. Nas‘ ex Carmen Bryant notoriously outed her affair with Iverson and we’re certain Bryant is but a single notch on Iverson’s Gucci belt. But according to reports, the former Mrs. Iverson walked away with quite a hefty sum of the former 76ers’ coin.
Per Iverson’s history-making endorsement deal with Reebok, he was set to receive a whooping $32 million when he turned 55, but according to Kent Babb’s new book Not A Game: The Incredible Rise and Unthinkable Fall of Allen Iverson, the basketball star put that huge sum of cash in jeopardy during divorce proceedings that began in 2010.
A.I. was reportedly so intent on winning Tawanna back, he signed a postnuptial agreement that stated he’d lose his entire Reebok trust, yes all $32 mill, if didn’t adhere to the following terms:
- Can not cheat or have children outside of marriage.
- No physical or verbal abuse.
- Must attend marriage counseling.
- Must speak to therapist about drinking and gambling problems.
- Can never gamble again.
- Must be home by midnight.
- Must discuss purchases over $5K
Must be home by midnight? Yaaas, Tawanna! Reel him in!
According to the book, Iverson failed to live up to his end of the agreement because terms one through seven are basically jail to a dude like Iverson. The result? Tawanna finalized the divorce in 2013 and took the trust with her.
How-some-ever, Tawanna had a change of heart at some point, Babbs writes, and gave back some of the fortune—but the money, as a whole, is still in her croc Birkin.
Apparently the couple are in a happy place now according to Tawanna. The Iversons are still technically divorced but are working on their relationship. Hopefully the reconciliation works out, if not, Iverson could be in danger of losing a mighty coin!
Guess it’s cheaper to loose her. Huh? Ladies, take note on that postnup game. If he wants you back bad enough, he’ll sign.