From WENN.com

The former NBA icon's $4.5 million (£2.8 million) home was due to go under the hammer on Tuesday (04Dec12) after he allegedly defaulted on his mortgage, but the auction was pulled at the last minute as Iverson claimed he never consented to the bank loan.

The sportsman blames his estranged wife Tawanna, who he is in the process of divorcing, insisting she signed for the mortgage plan in his name even though she knew he could not afford the $1.2 million (£750,000) payment, according to TMZ.com.

Iverson reportedly earned more than $154 million (£96.25 million) during his 14 years in the NBA, playing with the Philadelphia 76ers, Denver Nuggets, Detroit Pistons and Memphis Grizzlies, but is said to be drowning in debt.