Shams Charania reports that Spencer Dinwiddie intends to use his three-year, $34 million contract as an investment vehicle, essentially selling bonds in himself to give him a much larger pool of money to use now.
Here’s how The Athletic writer describes these “Dinwiddie Bonds” would 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.
A token is a digital currency term. The bond exists in the digital currency world.