NBA rejects Dinwiddies attempt at making nba contract into "investment vehicle"

[CelticsElite]

Honestly Dinwiddie seems like he was trying to scam with this:
https://www.nytimes.com/2019/09/27/sports/basketball/spencer-dinwiddie-nets-invest.html?smid=tw-nytsports&smtyp=cur

The NBA has prohibited Spencer Dinwiddie from using his contract as a digital investment vehicle.

Dinwiddie had planned to convert part of his three-year, $34.4 million contract into an investment and potentially realize profits in 2021 when he is expected to become a free agent again.

“According to recent reports, Spencer Dinwiddie intends to sell investors a ‘tokenized security’ that will be backed by his player contract. The described arrangement is prohibited by the C.B.A., which provides that ‘no player shall assign or otherwise transfer to any third party his right to receive compensation from the team under his uniform player contract.’ ”

Dinwiddie hoped to raise between $4.95 million to $13.5 million. The minimum investment was to have been $150,000.

[SHAQATTACK]

Lavar and Lonzo are ALL IN on this 

[ManUp]

I'm not financially literate enough to really understand what he was trying to do, but if it's backed by money from his contract I don't think he was trying to run a scam. Looks like he's trying to find creative ways to invest and make money. He might make a lot he might lose a lot, but I don't think he should be labeled a scammer or anything shady... Yet.

[KGs Knee]

Honestly, this seems like a really clever business move on his part.  But I also understand why the NBA can't allow this.  Too much potential for a conflict of interest, nevermind the fact that no NBA contract is truly 100% guaranteed.  If Dinwiddie was to have a part, or all of, his contract voided for some reason the NBA could potentially find themselves as part of a lawsuit they likely want nothing to do with.

[Donoghus]

Pretty fascinating concept, to be honest. 

But totally understand why the league doesn't allow it.  The idea seems to be spelled out in the CBA too although it'd be interesting to hear what his team's argument is to the league.