Brooklyn Nets point guard Spencer Dinwiddie is planning to convert his $34.4 million contract into a digital investment vehicle. This has caused a bit of an issue, as the NBA initially rejected the plan. The two sides met earlier this week to discuss legal matters, but the issue remains without resolution.
Shams Charania laid out the finer details of this dispute in his recent article for The Athletic, and Dinwiddie plans on moving ahead with his plan anyway:
Article Continues BelowNets guard Spencer Dinwiddie’s plan to convert his $34.4 million contract into a digital investment vehicle has caused a stir, and a lot of curiosity about how exactly it would work. As we reported on Monday, the NBA and Dinwiddie scheduled a meeting together after the league objected to his plan and raised concerns. According to sources, Dinwiddie and NBA officials met on Thursday and both sides had back-and-forth discussions regarding legal issues about the plan. Dinwiddie still plans to move forward with his plans, sources say, as the NBA reconvenes over potential next steps.
Dinwiddie, now 26 years of age, made 68 appearances with the Nets last season (four starts), racking up averages of 16.8 points on 44.2 percent shooting from the field (33.5 percent from beyond the arc), 4.6 assists and 2.4 rebounds in 28.1 minutes per outing.
The Nets finished the 2018-19 regular season with a 42-40 overall record, which earned the team a No. 6 seed in the Eastern Conference Playoffs. Unfortunately, Brooklyn was defeated by the Philadelphia 76ers in the opening round, 4-1.