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.
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.
Update: Per an NBA spokesperson, “The arrangement discussed in yesterday’s meeting remains prohibited by the CBA.”
I really can’t see Dinwiddie going forward with this. But if he follows through as this report says he plans to, expect the league to punish him. There’s really no other way. That’s why Dinwiddie frustratingly buckling is still the most likely outcome.
The NBA ruled Spencer Dinwiddie‘s plan to sell investments backed by his Nets contract violated the Collective Bargaining Agreement. Dinwiddie insisted the league didn’t understand his plan and why it should be allowed.
The standoff apparently isn’t over.
Shams Charania of The Athletic:
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.
The huge question: Did yesterday’s meeting lead to the league reversing its stance?
If yes, great. Everyone can move on happily. Anyone who wants to invest with Dinwiddie can.
If no, this could get messy. The NBA would practically have to punish Dinwiddie. It’s hard to see him not backing down if the league sticks with its initial ruling.
Brooklyn coach Kenny Atkinson was not part of the team’s media day on Tuesday because he was at the hospital with Kyrie Irving, who had taken an elbow to the face and had to be checked out. Later in the day, the reports came that Irving was “okay.”
I guess it depends on how you define okay because he did suffer a facial fracture.
Again, this doesn’t appear to be serious in a “he’s going to miss regular-season games” kind of way, but it’s also not good to have a fractured face. This early in the preseason the Nets can go easy on Irving and make sure he’s healthy before he gets back into any contact.
Irving will be the guy with the ball in his hands for the Nets, a team with some interesting players — Caris LeVert, Joe Harris, Spencer Dinwiddie, a minutes battle at center between DeAndre Jordan and Jarrett Allen — that don’t necessarily fit smoothly together. It’s going to take smart point guard play and strong leadership to help mold this team.
Is Irving up to that task? He’ll have to get healthy first before answering.
Nets’ coach Kenny Atkinson did not attend the team’s media day on Tuesday, but he had a good reason:
He had gone to the hospital with Kyrie Irving, who had taken an elbow to the head during a pickup game at the team’s facility. It was serious enough that the Nets decided to get things checked out.
However, it apparently is not that serious.
Hopefully, this really is nothing.
After a season where Irving did not connect (to put it very kindly) with a good young core of players in Boston, the pressure is on him to show something different in Brooklyn this season with Jarrett Allen, Caris LeVert, Joe Harris, Spencer Dinwiddie, and others. The Nets, a playoff team in the East a year ago, should be better this season with Irving. Should. And while the team says Kevin Durant will not play this season, if that changes some time after the All-Star break, the Nets become a potential threat to 76ers and Bucks on top of the East.
But to get there, Irving has to do more than just put up numbers. Team GM Sean Marks is confident he will.
There’s been a growing buzz around the league Kevin Durant may push hard to be back on an NBA court before the end of this season. He’s coming off a torn Achilles suffered in the NBA Finals, and the average recovery time for that has him back just before the end of the season, so…
The Nets aren’t counting on it. They are not ruling it out, either.
The Nets, who will head to China for a preseason game, had their media day Tuesday and general manager Sean Marks was asked about Durant’s return. From Brian Lewis of the New York Post:
The Nets also understand Durant wants to play, and it’s not impossible, but they are not banking on it.
Marks also said he has not spoken to Durant about the game where he tore his Achilles.
The Nets are an interesting team with Kyrie Irving getting another shot to test his leadership skills with a talented young roster, which includes Jarrett Allen, Caris LeVert, Joe Harris, Spencer Dinwiddie, and others.
They should be a playoff team, but throw in Durant — even 85 percent of Durant — and this team becomes a potential threat to Philadelphia and Milwaukee on top of the East.
Which is why Marks tried to deflect the question of Durant’s return. He doesn’t want it hanging over the head of the team all season long, so say he is out for the season and be done with it. Except, everyone will still be watching, and waiting, because a Durant return is a game changer.