Report: Nets’ Spencer Dinwiddie Launches Digital Investment Vehicle Next Week | Launderer report



Mary Altaffer / Associated press

Brooklyn Nets point guard Spencer Dinwiddie is set to launch a “digital investment vehicle” on Monday using money from his $ 34.4 million contract, though the plan has not received final NBA approval after long discussions.

The Athletic’s Shams Charania reported on Friday that Dinwiddie had removed direct ties to the NBA and his contract with the Nets from the proposal to create what he believes to be a “safe and secure investment bond”, but he is also ready for “potential disciplinary action” from the league.

“Spencer Dinwiddie’s advisers have provided us with new information regarding a modified version of their digital token idea, which we are reviewing to determine if the updated idea is allowed under league rules,” said Mike Bass. , NBA communications manager, at The Athletic.

The NBA has raised concerns about how the plan, which will be launched via the 26-year-old Los Angeles-native DREAM Fan Shares company, might violate its anti-gambling rules and has raised questions about the how the third-year option in his contract would be taken into account. in the equation, by Charania.

Dinwiddie and his representatives amended the option year proposal to become a “fixed bond without performance incentive” tied to his game that season, according to The Athletic report.

He decided to go ahead with his plan finalized on Monday despite not getting the direct green light from the league, as he believes the idea could “improve the economic options for players from the NBA “.

“[Dinwiddie] has been an All-Star caliber player this season, and now that’s going to create an interesting dilemma for the league, ”a senior NBA team official told The Athletic.

The 2014 second-round pick previously explained the idea of Charaniah in September:

“What better way to invest in a player as a fan than to have a certain level of skin in the game? With the way mine is working, if I play well in this player option year and we share the profits in the first year of my new deal, he greatly appreciates the return on that investment vehicle, he lets you get into that 15 percent range in a return, like a growth stock, and that will be something that most guys won’t beat.

“And you’re going to be invested to watch your favorite player. It’s something with a bottom, guaranteeing you a bottom, and obviously the cap on the yield would beat most stocks in the economic climate we’re going into. It’s as simplistic as possible, the real growth is for the third year, just like my contract. You have the guaranteed premiums. You have the big fluctuation in the third year, with a floor. Anyone can enjoy it and earn money. money. “

Dinwiddie is averaging a career-high 22.4 points per game, with 6.2 assists and 3.1 rebounds in 36 appearances for the Nets this season. He ranks eighth among NBA pointers in value-added, per ESPN.

There has been no indication of the type of sanction the NBA could impose if it determines that the digital investment vehicle is in violation of league rules.


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