The NBA is reviewing Brooklyn Nets player Spencer Dinwiddie's revised plan to turn his contract into a digital investment vehicle | Markets Insider

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The NBA is reviewing Brooklyn Nets player Spencer Dinwiddie's revised plan to turn his contract into a digital investment vehicle

that his bond would launch on January 13. He referred to himself as"the guy that almost got kicked out of the league trying to do some fun stuff with his contract," and revealed that, should fans vote him into the NBA All-Star Game and fulfill his token offering, he'd give his teammates"Now when speaking about an All-Star nomination for somebody like me, I view it as a team award full of team success," Dinwiddie said in the video posted to Twitter.

Dinwiddie would also award some of the investors holding his token should the two conditions be met. The player said he would to take eight fans to the All-Star Game as"part of the Spencer Dinwiddie experience for token holders." NBA Executive Vice President and Deputy General Counsel Dan Rube previously said the league reviewed numerous versions of Dinwiddie's plan and found the token would"violate collectively bargained league rules," according to a statement. If Dinwiddie's contract securitization is successful, it could prompt other players to follow suit and change how the NBA views future contracts.

Dinwiddie told The Athletic in November that he doesn't want to"go to war" with the association, and wanted to make the deal easier for players to make in the future. He also noted that such a token would be insulated from risk factors typically associated with investments, including market volatility and economic recession.

 

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