Spencer Dinwiddie Still Plans To Move Forward With Turning Contract Into Investment

[RealGM Wiretap]

Spencer Dinwiddie still plans to convert his $34.4 million contract into a digital investment vehicle. 

The NBA attempted to block Dinwiddie from moving forward with his plans and the two sides met on Thursday to discuss the legal issues surrounding it.

Dinwiddie still plans to move forward with bringing the investment vehicle to market, sources tell Shams Charania. The NBA will reconvene over next steps on the issue.

Dinwiddie signed a three-year, $34.4 million extension last December with the Brooklyn Nets.

Via Shams Charania/The Athletic

[TheCage4]

I guess we will all find out how quickly the NBA can fine away $34 million in salary.

[dsg2021]

Sounds more like a failed mediation and arbitration, culminating with a case in court, but def could be precedent-setting (until it rules the other way)

[DoItALL9]

What's the NBA's issue here?

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[d-train]

What's the NBA issue here?

Sent from my LM-G710 using RealGM mobile app

The NBA's issue is it violates the terms of their labor contract with the players. I don't see how the NBA and the NBPA are going to make a case that they have the authority to limit Dinwiddie's investment activities.

[BillTheGOAT]

If he was a much better player he would've been paid more and not trying this sort of thing out.

He could have been lowkey and just invest money into businesses like other pro athletes.

[d-train]

If he was a much better player he would've been paid more and not trying this sort of thing out.

He could have been lowkey and just invest money into businesses like other pro athletes.

He could sue the NBA and the NBPA for capping his salary if he was a better player. He could sue the the NBPA for conflict of interest if he was a better player. The NBPA can't competently represent Lebron James and other players barely capable of holding an NBA job any better than a lawyer can represent a cigarette company and a lung cancer patient suing the cigarette company.

[makeready]

The NBA's interest in blocking this is to protect the fans from getting soaked the first time one of these deals goes bad.

They might not have legal standing to prevent it now but they could end player options in the next CBA.

This asset is essentially structured as a bet that Dinwiddie can opt out during his player option year and sign a bigger contract.

[Dr Huge Pecs]

Im not sure how an investmevnt and an investment vehicle are different, and maybe its a cool idea⋯ But here's the thing spencer… i guarantee this will be your last decent deal you get if you buck the nba's status quou, and i also doubt it works for you in the end.

That said spencer is a "change the world" kind of guy and i cant blame him for that… he may end up in court over this and become the pseudo-revolutionary figure he desperately wants to be, but a millionaire fighting billionaires, sorry i know who wins… but hey at least you tried…

however don't be surprised if you find youself out of the league sooner than expected.

Good luck on fighting "the man" who pays you millions of dollars

And way to standup for the disenfranchised millionaire athlete...who has zero student lian debt and is set for life at age 27.

You go spencer!

[ozwizard8]

Spencer and many other NBA players are just trying too much. They're all after "interesting" investments. They try too hard on this off-court stuff.

Honestly, they're spoiled in some ways. They're earning a lot of money at a young age. They're this superstar potential ballplayers coming from high school ages. They were all celebrities of their neighbourhood and social circle since they're like teenagers. So many things come easy to them.
Then they get into this trend of being a successful businessman while they're athletes.

Why would NBA players be good businessmen?
-Most of them don't have a college degree or work experience. When you get a degree and work in the industry you'd be familiar with many aspects of that part of the industry.
-They don't have time. They cannot work fulltime on this type of business.

I think most of the athletes don't share how much money they lost on many different investments while some small success stories get amplified by the media.
Any NBA athlete would be a better focus on their job while they can. Their career usually ends by they're 35. Any small increment of development on their game and physique might net them tens of million dollars.
-Milking any kind of endorsement makes sense as you'd earn more when you're an active player.
-Recording an album can be considered as a hobby if you don't put too much emphasis on making money from it.

But spending time on niche investments, getting confused with business-related issues most certainly steals your time.
Focus on your game. You're tall, athletic. You have tons of ball experience. You have all the competitive advantages.
In a field of investment, the average basketball player would be worse than an average investor.

Being woke is looks funny from outside.
You are doing a dream job for many others. You earn a lot of money. People, fans love you.
At this stage of your career you should stop trying to be also new Elon Musk or such.
Just follow Kobe's path. You'd have a lot of empty time when you retire from basketball. Spare your enthusiasm until the retirement.