Spencer Dinwiddie’s plan to sell shares in contract remains prohibited by CBA
Earlier this offseason, Brooklyn Nets guard Spencer Dinwiddie made waves around the NBA when he announced that he would be selling shares of his three-year, 34.4 million dollar contract with the Nets.
Unfortunately for Dinwiddie, he was quickly shut down by the California Board of Accountancy. Even though he pursued his entrepreneurial brainchild, the CBA refuses to budge:
An NBA spokesperson tells @NYTSports of the Nets’ @SDinwiddie_25 and his ongoing attempts to sell shares in his contract: “The arrangement discussed in yesterday’s meeting remains prohibited by the CBA.”
— Marc Stein (@TheSteinLine) October 4, 2019
Dinwiddie’s plan was to allow investors to essentially gamble on if he could play his way to a larger contract, which would provide returns to the investors.
If he played poorly and lost money, anyone who bought the proposed “$SD8” token would go down with the veteran guard.
Hypothetically, if Dinwiddie had put out this option earlier (and it was allowed by the CBA), he would have made investors a pretty penny.
Every year he has played in the league, Dinwiddie has increased his scoring average and gone from second-round draft pick to one of the best bench players in the league.
Last year, he averaged 16.8 points a game while only starting four of the 68 games he played in.
Although it doesn’t look as if Dinwiddie will be able to allow the public to invest in his play, he has a promising season to look forward to.
It’ll be interesting to see how the back-up guard plays this season, even if no one is betting on his performance.