In his first two seasons with the Philadelphia 76ers, rookie Michael Carter-Williams is expected to earn $4.5 million. Not a bad haul for the 2013 11th overall pick, but there's only one problem. Carter-Williams won't see any of that money for a couple years.
Thanks to his management team, which consists of his mother Mandy Carter-Zegarowski and her best friend, a trust has been set up for the 22-year-old that prevents him from pocketing any part of his rookie contract for three years. In a statement to ABC News, Carter-Zegarowski said, "Our goal is to work with Michael to manage his money in a way that will secure his long-term financial future." Maybe you think it sounds crazy, but given the fact that around 60 percent of NBA players have declared for bankruptcy within five years of retirement, this is probably the best move to keep MCW financially stable for the long term.
For now, MCW is expected to live off his current endorsement deals which include Nike and Panini trading cards.
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[via Daily Mail]
