Spencer Dinwiddie Still Attempting to Sell Shares of His Contract in Violation of the CBA
By Parker White
Brooklyn Nets guard Spencer Dinwiddie has put forth an interesting economic proposal. He wants to use his contract -- a three-year, $34.4 million deal -- as collateral so fans and other third parties will be able to invest in him.
Within this framework, investors would provide Dinwiddie with money up front, and when the third year of his contract rolls around, these "shareholders" would reap the rewards. Of course, if he exceeds his current value and enters the market after his second year, as the third year on his deal is a player option, he could reward his investors even further by inking an even bigger per-year deal.
However, the NBA has come out and reiterated that this practice would be in direct violation of its collective bargaining agreement with the players association.
The NBA has stated its position that the CBA forbids Dinwiddie’s plan and the Brooklyn guard clearly remains resolute to go ahead with trying to sell shares in his contract. This is heading for a showdown of sorts barring a reversal of the NBA’s position ... which seems unlikely https://t.co/A6a3EZsKoz
— Marc Stein (@TheSteinLine) October 13, 2019
That isn't going to stop Dinwiddie from at least attempting to execute his plan, which goes into effect on October 21. As Dinwiddie stated in a series of tweets, he believes he's in no violation.
This is why we are giving them additional time as our goal is to partner.
— Spencer Dinwiddie (@SDinwiddie_25) October 13, 2019
Regardless of the @NBA’s position, we will move forward. Therefore we will launch on Oct. 21st, a week from our original date and before the start of the @NBA season. (2/8)
Yep, he's doing it.
This is a third party business transactions between the fans and I beyond the jurisdictions of those entities. Much like the way no one can tell me which home or car I can buy, I am free to use my money the way I see fit. (4/8)
— Spencer Dinwiddie (@SDinwiddie_25) October 13, 2019
If that's your choice...
will be able to make an informed decision. As we have witnessed, any great business that is built upon its consumers knows how to listen to the demands of that base and adjust as necessary. (6/8)
— Spencer Dinwiddie (@SDinwiddie_25) October 13, 2019
But will the league adjust?
Lastly, as we speak about freedoms domestically and urge athletes to offer comments on situations they maybe werent prepared for, it would be a shame if we try to abuse our power to limit similar liberties that can be beneficial to all parties involved due to misunderstanding.
— Spencer Dinwiddie (@SDinwiddie_25) October 13, 2019
In summation, Dinwiddie is saying this isn't against the CBA and that the NBA can't tell him how he's allowed to spend his money. It'll be interesting to see how the Players Association feels about this and whether they will fight hard for Dinwiddie against the NBA.
This is something we've never seen before in any of the major sports. If Dinwiddie goes forward with this, he'll be forcing the NBA to respond. I wonder how that'll go?