Spencer Dinwiddie chose to sign with the Los Angeles Lakers because “they know how to win.” And if they improve upon their current 28-26 record and add an 18th title later this year, the 30-year-old guard will activate a very unique bonus in his contract.
If Dinwiddie’s decision to sign with the Lakers pays off with a championship ring, he will be entitled to a $1 bonus.
That is correct. One whole dollar.
Why the odd stipulation? According to Dinwiddie, it stems back to the three-year contract he signed after being acquired in a trade by the Washington Wizards in 2021. The bonus was added as a joke since the annual expectations around the Wizards are low and the franchise has not reached the third round of the playoffs since it made the NBA Finals in 1979.
It was from there that Dinwiddie and his agent agreed to keep that bonus in for future contracts, if possible.
“Now that I’m actually on a team that has championship aspirations, so people are like, ‘Why the hell would you do a dollar?’ But it has more to do with the ties between me and my agent than anything monetary,” Dinwiddie said Monday, via ESPN’s Dave McMenamin.
This isn’t Dinwiddie’s first idea that seemed a little odd. Back in 2021, after signing that contract with the Wizards, he said the NBA rejected his attempt to pay $12 million so that a cryptocurrency patch could be put on the team’s jerseys.
Dinwiddie was dealt from the Brooklyn Nets to the Toronto Raptors at last week’s trade deadline. He was then waived by the Raptors and, after clearing waivers on Saturday, he signed with the Lakers for the $1.55 million remaining portion of their non-tax mid-level exception for the rest of the 2023-24 NBA season.