Update emerges on bombshell Allen Iverson-76ers rumor

The Philadelphia 76ers got LeBron James this offseason, but the same will not be true of another former No. 1 overall draft pick.

Rumors spread online this week about retired 76ers legend Allen Iverson potentially joining the team’s ownership group. The source of the rumors appears to have been a viral post by singer and actor Tyrese Gibson claiming that Iverson was purchasing a stake in the 76ers.

On Monday though, Ben Horney of Front Office Sports shared an update on the bombshell claim. Horney reports that Gibson’s claim is not true and that Iverson will not be joining the 76ers’ ownership group.

Iverson, 51, is one of the most iconic and beloved players in franchise history. He played for the 76ers for 12 total seasons from 1996-2010 (spanning two separate stints), making eight All-Star teams and winning four scoring titles. Iverson also famously won NBA MVP in 2001 and led Philadelphia to a surprise NBA Finals berth later that year as well (with that still marking the franchise’s most recent trip to the Finals).

Ever since retiring as a player, Iverson had his No. 3 jersey lifted to the rafters by the 76ers in 2014 and was later inducted into the Basketball Hall of Fame in 2016. Iverson was even honored by the 76ers a couple of years ago with his own statue (which unfortunately turned out to be very small).

Iverson has recently been speaking very positively about his old team and could not contain his excitement about the four-time champion James picking the 76ers in free agency. But in the end, Iverson will continue to root on the 76ers from afar instead of taking on an active role as a member of their ownership group.