Report: Allen Iverson losing Atlanta house

Posted: February 08, 2013

Former 76ers star Allen Iverson has lost his $4.5 million Atlanta mansion to foreclosure, according to TMZ.

The gossip website says Iverson allegedly defaulted on a $1.2 million mortgage and tried to prevent an auction but failed.

Iverson sold his six-bedroom Gladwyne mansion for $2.6 million in 2010. The Denver Post reported in 2011 that his Colorado home went into foreclosure after he stopped paying the mortgage while owing well over $2 million.

The 38-year-old Iverson, who last week declined an offer from the D-League Texas Legends, reportedly has a trust fund worth $32 million that he is prohibited from touching until he turns 55 and draws a $1 million yearly stipend. He just finished a messy divorce with his ex-wife Tawanna last month, reportedly agreeing to a $3 million settlement.

The Atlanta family court judge in the case lambasted Iverson's parenting, ordered him to seek psychiatric help, and required that he attend Alcoholics Anonymous meetings for a year, according to TMZ.

Slow move to Seattle

NBA commissioner David Stern said Wednesday night that the Seattle group led by Chris Hansen and Steve Ballmer, which recently reached an agreement to purchase the Sacramento Kings, has formally filed for relocation with the league.

Sacramento Mayor Kevin Johnson has been trying to find investors with the financial means to match the sale price.

- Staff and wire reports

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