Atlantic Notes: Dinwiddie, Celtics, Fizdale

Nets guard Spencer Dinwiddie will become the first NBA player to turn his player contract into a digital investment vehicle, multiple sources tell Shams Charania of The Athletic.

As Charania explains, Dinwiddie is expected to give up some future income on his three-year, $34MM+ deal with the Nets in order to secure smaller lump sum payments up front, which he could then immediately invest. Investors who secure a “Dinwiddie bond” in the form of a digital token would eventually be paid back the principal amount with interest, with that cost covered by the veteran’s NBA contract, writes Charania.

Here’s more from around the Atlantic:

  • While Team USA has had a disappointing run in the 2019 FIBA World Cup, that doesn’t diminish the fact that four Celtics players – Kemba Walker, Marcus Smart, Jayson Tatum, and Jaylen Brown – got valuable chemistry-building reps in China, writes Chris Forsberg of NBC Sports Boston. The experience they gained together with Team USA will benefit them and the Celtics more than any medal would have, Forsberg opines.
  • The Celtics‘ G League affiliate – the Maine Red Claws – has acquired the returning rights to former Xavier forward Kaiser Gates in exchange for a first-round draft pick, per a press release. Gates agreed to a training camp contract with Boston last week, so today’s move signals that the club plans to eventually have him report to Maine.
  • Ian Begley of SNY.tv spoke to a handful of current and former NBA coaches who believe that David Fizdale will face a difficult challenge in New York this season. The Knicks‘ head coach will have to balance developing young players with finding enough minutes for all the veterans who signed short-term, big-money deals and expect to play key roles.
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7 thoughts on “Atlantic Notes: Dinwiddie, Celtics, Fizdale

  1. hiflew

    He could immediately invest it? Yeah right. I’m sure he is putting it into T-Bills right now. Many NBA players have a problem with blowing through their money after they retire. I have a feeling the “Dinwiddie bond” will lead to far earlier bankruptcies for some players. It’s why lottery winners that take the lump sum up front are usually the ones that are broke a short time later.

    $34 million (or $18 million or so after taxes and other fees) ought to be enough of a nest egg to live your life and have your kids well taken care of for their lives. Even if you don’t have kids, you could put that much money into a low risk CD and live a nice life just off the interest. Instead, greed and avarice are going to cost some players that security with unnecessary gambles.

    • Yeetus

      Yo man them talks about yo money wack, I be balling with me bruh and you be all up in that Kobe. Basketball sum good sheet hehaheha. Me mooOOO00Ooonies!

    • agentx

      Let’s see, an NBA player takes a lump sum in exchange for a piece of the future value of his contract from a “digital investment” speculator.

      That “digital investment” speculator sells bonds to aspiring digital investment moguls from the general public.

      Issue those bonds as crypto-currency, and you’ve got the makings of a highly effective and probably completely legal scam.

  2. Skip, Tampa

    Oh yeah, sign me up for a high quality Dim Wit Junk Bond backed by a NBA player contract.
    Will cash in my 401K and send to the broker handling the Bonds.
    Bet he’s laughing all the way to the bank at the transaction fees.
    Wish him all the best. It is after all a dream come true.

  3. Fizdale was given a roster that presented similar challenges last year (with players that had lower price tags and expectations). He wasn’t up to that. Hard to have any confidence he’ll be up to this. That said, it’s really the FO has to own the way they used 71 mm in cap space this summer. Obviously, regardless of expectations, all the guys they signed for rotation player $$ (or more) can’t be in the rotation.

  4. x%sure

    Fizdale has many choices to make; much to balance:
    –youth vs experience
    –winning vs tanking
    –showcase for trade vs develop for team
    –Mills(‘s guys) vs Perry(‘s guys)
    –investment made (Dolan, if he wants any part of this mess)
    –a roster-based system (physical style) or his own preferences (showy style)
    –and the usual player personalities magnified by NYC factors: national media presence, marketsize, diversity, spirit of individualism, & natural alpha-NYer-fueled criticism (which could be abbreviated DXC!).

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