Spencer Dinwiddie is changing the game folks. First it was his desire to change his contract into his own form of Schrute Bucks called a Dinwiddie Bond, which I'll admit went right over my head
Dinwiddie, according to multiple sources, is starting his own company to securitize his NBA contract in the form of a digital token as he begins a three-year, $34.36 million extension with the Nets. It’s unclear how much of the contract amount he wants to raise upfront, but it would likely be less than the total amount, according to sources.
So how exactly would this work?
In a securitization, the borrower gives up some future income in return for a smaller lump sum payment. But the borrower, in this case Dinwiddie, then has more money to immediately invest than he otherwise would.
A token is a digital currency term. The bond exists in the digital currency world. Instead of buying the bond from a broker, it is through a token.
According to sources, this Dinwiddie bond would pay investors principal back and interest, which would be covered by what the Nets owe him
The NBA pushed back saying he couldn't do it or something along those lines, so he's back with another crazy yet awesome idea.
What the hell? You can do this? Raise enough money for some bitcoin and Dinwiddie will sign a minimum deal to whoever the fans vote. Again, I don't really know shit about bitcoin but I assume that's a deal that makes sense? If you thought maybe this was some quarantine tweeting, once Shams talks about it you know it's for real
Currently there is $55 dollars in the GoFundMe so the good news is Dinwiddie is almost at his goal. I have no idea how this would be allowed in the CBA or how the NBAPA would allow this to happen. Dinwiddie is pretty good so him playing for the minimum isn't exactly what you want as the players union. Maybe this is all just a ploy and the money will go to some charity or something, because if not that would be pretty fucking wild. If this really opened up to fans I can imagine someone like Steve Ballmer coming up with some sort of program to spam voting in an effort to get Dinwiddie on the Clippers. There are a lot of teams that could use Dinwiddie's services, especially if they are coming dirt cheap. He does have a point though, players take discounts all the time to form super teams, why can't he?
Imagine if this starts the trend of other players allowing fans to choose their next location? NBA Free Agency would be changed forever. Part of me thinks there are so many Lakers bros out there that everyone would be voted to LA and I'll admit I don't love that aspect of this idea, but I do love the chaos part.
My guess is the league shuts this down real quick, but at the same time they have way more important things to worry about right now so many they have no idea this is even happening. I mean he doubled down and opened the GoFundMe long after his middle of the night tweeting so he seems to be for real.