Nets guard Spencer Dinwiddie was planning to move forward with his innovative investment plan despite the NBA prohibiting it. Then, he decided to meet with the league in search of compromise.
Without a satisfactory resolution, Dinwiddie is apparently back to barreling ahead.
Shams Charania of The Athletic:Dinwiddie still plans to move forward and launch his digital investment platform, according to sources, with the Nets swingman said to believe that the NBA’s lack of approval is baseless.
“At the request of Spencer Dinwiddie and his advisors, we have reviewed a number of variations of their digital token idea,” Dan Rube, the NBA’s Executive Vice President and Deputy General Counsel, told The Athletic. “All of the ideas presented would violate collectively bargained league rules, including rules prohibiting transferring a player’s right to receive NBA salary, gambling on NBA-related matters, and creating financial incentives to miss games.”
Dinwiddie following though would be quite daring. He could face fines, suspension or even a voided contract. With the threat of those consequences looming, who would invest, anyway?
Maybe this ends up in court. A favorable ruling there is about the only way to see this aggressive course working out for Dinwiddie.
Of course, this could be a bluff. Until Dinwiddie actually implements the investment plan, there’s still time for him and the NBA to agree or Dinwiddie to back down.