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Sources: Spencer Dinwiddie to Turn Contract into ‘digital investment vehicle’

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Brooklyn Nets guard Spencer Dinwiddie is planning to turn his contract into a digital investment vehicle and receive an upfront lump payment, The Athletic has learned, an unprecedented move for an NBA player.

Dinwiddie, according to multiple sources, is starting his own company to securitize his NBA contract in the form of a digital token as he begins a three-year, $34.36 million extension with the Nets. It’s unclear how much of the contract amount he wants to raise upfront, but it would likely be less than the total amount, according to sources.

So how exactly would this work?

In a securitization, the borrower gives up some future income in return for a smaller lump sum payment. But the borrower, in this case Dinwiddie, then has more money to immediately invest than he otherwise would.

Source: Shams Charania of The Athletic

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Sources: Kings Decline to Match Offer Sheet for Bogdan Bogdanovic

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The Sacramento Kings have declined to match the Atlanta Hawks’ four-year, $72 million offer sheet for restricted free agent guard Bogdan Bogdanovic, sources tell ESPN.

Source: Adrian Wojnarowski on Twitter

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Report: Bam Adebayo, HEAT Agree to Extension

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The Heat and Bam Adebayo have agreed to a five-year max extension, Adebayo’s agent, Alex Saratsis, tells ESPN.

Source: Zach Lowe on Twitter

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Report: Brandon Ingram, Pelicans Agree to Extension

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New Orleans Pelicans All-Star F Brandon Ingram has agreed to a five-year, $158 million maximum contract extension, his agents Jeff Schwartz and Jordan Gertler of @excelsm_bball tell ESPN.

Source: Adrian Wojnarowski on Twitter

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