I guess Michael Carter-Williams won’t be waking up in a new Bugatti any time soon.
His management team aka his moms and nem, have his rookie salary being deposited into a trust that he can’t touch for 3 years.
As the father of an infant son, who’ll one day be a lottery pick (hey a brother can dream), I think this is absolutely brilliant!
Think about it. If all goes according to plan, MCW will be eligible for his 1st big contract extension after year 3. He’ll sign his extension for $50-60 mil guaranteed and finally gain access to the millions he stashed away, plus some interest. He’ll be much more mature at that time and having lived a semi-normal lifestyle to that point, he’ll have a greater appreciation of the money, and will be well on his way to financial security for the rest of his life.
It’s really a great idea, kudos to his mom for thinking ahead and making sure her son isn’t in the Broke sequel.
But the South Beach side of me, the poppin’ bottles side of me, the Liv on Sundays side of me, the ballin’ outta control, let’s make it rain on ’em side of me is livid!
3 years?!?! Mom and I would have needed a serious negotiation session. I’m talking fiscal cliff style negotiating.
“3 years?!?! Naw mom, we need to talk. I can’t live off of this $2 million from Nike. I got kids to feed!”…Oops, I accidentally slipped into Spreewell mode for a second, but you get the idea.
Hopefully, this begins a trend of the financially responsible athlete. Investing in their futures, rather than a shiny new Jesus piece or some other gaudy, pointless purchase
– N.D. Face