Report: Iverson rejects $1M deal in China, planning lawsuit against promoters

Stephon Marbury won't be getting some marquee point guard company in China.

Not only has NBA icon Allen Iverson turned down a $1-million deal to play on a professional basketball tour in China, he's also planning to sue promoters, according to a report from Shams Charania of RealGM.

Iverson had signed on to coach a team on a Chinese tour, but RealGM reported on May 21 that the promoters had been pushing Iverson hard to suit up and play, leading officials to delay the tour. After winning his coaching debut, promoters and fans in Harbin, China, prevented him from moving on to the tour's next stop, pressuring him to play while in the city.

The 2001 NBA Most Valuable Player released the following statement to RealGM:

I have visited The Peoples Republic of China on multiple occasions. Each time I visit, I am taken aback by the love, appreciation, and respect that the people in China show me. Normally, I visit larger cities like Beijing and Shanghai. However, on this trip I had the honor and privilege to visit other parts of China for the first time. I was personally blown away by the love that the fans had for me in Harbin, Xi’An, Jingjiang, and Hefei. In addition, having the opportunity to meet with local business owners and witness the amazing infrastructure throughout China will leave an everlasting impression on me.

I am highly disappointed by the unethical and dishonest actions of Tianjin Qi Di Culture Co., Ltd (“QIDI”), Beijing Landmark Advertisement Co., Ltd, Mr. Li Dong and Mr. David Lee, regarding my participation in this tour. Tianjin Qi Di Culture Co., Ltd (“QIDI”), Beijing Landmark Advertisement Co., Ltd, Li Dong and David Lee have continuously lied, misled my fans and breached the contracts between their companies and myself. Despite their negative actions, I will still continue the tour for my fans. What’s more important to me than any contract or sum of money is the love that my fans have for me.

The language of Iverson's coaching contract is said to include no obligation to play, something the 11-time NBA All-Star hasn't done professionally since 2011, when a calf injury ended his time in Turkey. He officially retired in 2013, three years after last appearing in an NBA game.

From here, Iverson is expected to return stateside, where his legal team will begin preparing a lawsuit against Li Dong and David Lee. The suit will allege breach of contract, as Iverson's camp claims he is owed $1.1 million.

That's not peanuts for Iverson, who has reportedly come on hard financial times since retiring and won't receive payments from a $32-million trust until he's 55 years old. He earned an estimated $154.5 million as an NBA player, not accounting for the lucrative endorsement deals he received as the de facto face of an entire generation of NBA fans.

A lightning-quick guard with incredible scoring instincts, Iverson averaged 26.7 points, 3.7 rebounds, 6.2 assists, and 2.2 steals over 914 career games.