This kid has been paying attention!! I applaud Michael Carter-Williams for this decision. I think it’s the smartest thing he could have done. The 76ers rookie has his NBA salary in a trust fund that he can’t touch for 3 years.
Details after the jump…
Via BR:
…Carter-Williams, whose salary is stashed away in a trust he cannot use for three years at the behest of his mother, according to the Philadelphia Inquirer‘s Keith Pompey:
Nowadays, (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.
