Spencer Dinwiddie, Brooklyn Nets, (Photo by Dylan Buell/Getty images)
Spencer Dinwiddie said on Twitter that if fans could crowdfund his next NBA contract, he’d let them decide where he plays. Now he’s actually set up a GoFundMe campaign.
Spencer Dinwiddie has been focused on bringing cutting-edge financial creativity to the NBA. He’s spent nearly a year trying to arrange with the league for his contract to become a first-of-its-kind investment vehicle, turning athlete contracts into something fans can actually put their money down on.
The suspended season and extended coronavirus lockdown seem to have given him a case of cabin fever and apparently he’s got a new idea. Thursday night, on Twitter, Dinwiddie finished a run of tweets with an offer to let fans choose the next team he signs with, provided they can raise 2625.8 Bitcoin. It seemed like a wild idea but Dinwiddie has taken the next step, actually setting up a GoFundMe campaign for fans to start chipping in. The campaign’s intro reads:
I’m simply creating this GoFundMe as my commitment to my previous tweets. As of now 2625.8 BTC is roughly equivalent to $24,632,630 USD. If we hit the target then I will allow the fan base to determine my next team decision and sign a one year contract at that destination. If we do not hit the target goal then I will be donating 100% of this campaign to charity. Fan engagement comes in all shapes and sizes, lets have fun folks!
The figure he’s tagged would be a significant raise over his current salary. Dinwiddie is under contract with the Nets for next season, set to make $11,454,048, according to Spotrac. He then has a player option for the 2021-22 season for $12,302,496. Presumably, Dinwiddie’s offer here to sign a one-year contract at the crowd-funded value is for that season and would involve him waiving his player option.
I honestly have no idea how this would work under the current salary cap rules but it seems highly improbable. However, Dinwiddie’s campaign specifies that if the campaign’s goal isn’t met, he’ll donate 100 percent of the proceeds to charity. Maybe he’s reinventing the NBA contract. Maybe he came up with a creative way to raise some money for a good cause.
As of right now, Dinwiddie’s campaign has raised a grand total of $55.