Brooklyn Nets player Spencer Dinwiddie is shaking things up in the NBA.
The guard is in the process of converting his contract so it can be used as a digital investment tool, The Athletic reports.
Dinwiddie’s deal is worth $34 million over three years. By modifying the contract into an investment, he will be given a lump sum in advance, which will presumably be less than how much his deal is worth. He intends to launch his own company in order to secure the contract as a digital token. Dinwiddie would then pay investors back principle and interest.
His contract covers a player option for the 2021-22 season; at this time, it’s uncertain whether opting out would affect investors. In 2018, Dinwiddie and Kyrie Irving both took a business class at Harvard.
The move isn’t unheard of in sports. Former NFL running back Adrian Foster tried to do something similar in 2013, though it didn’t work out. However, Dinwiddie deal would be a first for the NBA. If the model is successful, then his digital investment plan could be something other players pursue.
Last season, Dinwiddie averaged 16.8 points and 4.4 assists.
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