Nets’ Spencer Dinwiddie responds to NBA saying that he can’t turn contract into digital token
Brooklyn Nets point guard Spencer Dinwiddie responded on social media on Tuesday evening to clear the air on the NBA rejecting his digital token proposal for his contract with the Nets in an attempt to prevent rumors about possibly facing a suspension for following through on the digital venture.
Dinwiddie, 26, signed a three-year extension with the Atlantic Division club in December of last year, which went into effect at the start of the 2019-20 season and is worth $34 million with a player option in the third year—the sum total he intended to invest in a digital token to be securitized and treated like a bond. While the 6-foot-5 backup guard starting while Kyrie Irving is sidelined with an injury met with NBA officials last month and felt optimistic, at the moment the Collective Bargaining Agreement does not allow Dinwiddie’s proposal.
Earlier today a rumor floated around that Dinwiddie could be fined or suspended for the digital venture.
Dinwiddie wrote on the social-media platform Twitter on Tuesday that basketball is his “second priority” behind family in life.
Yes I’m doing it.
No I’m not getting myself suspended and jeopardizing the team.
Regardless of what they want you to believe basketball is my second priority in life behind my family (Elijah specifically)
Guess that makes 3 things 😅
— Spencer Dinwiddie (@SDinwiddie_25) November 20, 2019
The sixth-year veteran also confirmed that he’s “doing it”; that is continuing to turn his contract into a token.
NBA executive vice president Dan Rube stated today that Dinwiddie’s actions could violate the CBA:
“At the request of Spencer Dinwiddie and his advisors, we have reviewed a number of variations of their digital token idea,” Rube said, via The Athletic. “All of the ideas presented would violate collectively bargained league rules, including rules prohibiting transferring a player’s right to receive NBA salary and gambling on NBA-related matters.”
It’s worth checking up on Dinwiddie’s activities and persistent dialogue with the league as things come to ahead over his interesting digitalization idea.