Spencer Dinwiddie announces date for investment in his contract

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Brooklyn Nets guard Spencer Dinwiddie wanted to create a security out of his next NBA contract. The NBA said no. But then reports surfaced that Dinwiddie was going ahead with the plan anyway. Now it appears that Dinwiddie has made that public, and he is proceeding with his plan to create a digital token and give fans an opportunity to invest in his contract.

In a series of tweets on Sunday, Dinwiddie outlined that he would go ahead and use his next contract as planned. Specifically, folks will be able to invest in Dinwiddie’s guaranteed money, giving him cash up front in exchange for a return of their principal plus interest at a later date.

For his part, Dinwiddie said that the plan is legal and does not violate the CBA.

Via Twitter:

In his tweet thread, Dinwiddie also said that the transaction is between himself and fans, and that the NBA does not have any control over a third-party transaction in this fashion.

This could be a very interesting back-and-forth between the Brooklyn star and the league. If he’s ready to go ahead with his plan, it’ll force the NBA to respond.