I think more NBA rookies should take this approach and maybe stretch the time they can get ahold of the money even longer than 3 years. Maybe 10 years, so you guarantee yourself some money if your career flames out. If you succeed, you won’t have to worry about money anyway, but putting away a nest egg early isn’t a bad idea.
Bleacher Report has the details courtesy of Philadelphia Inquirer.
(Mandy) Carter-Zegarowski and her best friend, Tracie Tracy, are running his management team. They are taking a proactive approach to make sure he doesn’t spend all his money in a couple of years.
His rookie contract guarantees him $4.5 million over his first two seasons. He could make a total of $10 million if the Sixers pick up the final two seasons of his contract.
But his salary is deposited into a trust he can’t touch for three years. Carter-Williams is living off endorsement deals with Nike and Panini trading cards.
