Michael Carter-Williams Can’t Touch His Salary for Three Years

MCW
Hello and welcome to your bi-weekly check-in on the Philadelphia 76ers.

Keith Pompey of the Inquirer has finally brought us a relevant tale about the team he covers: Michael Carter-Williams’ parents have set up a trust that MCW can’t touch for three 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.

That’s just one of the benefits of having caring parents.

Nike… and Panini. Can’t imagine he’s getting that much from either at this point. Sure, it’s mostly like more than 99% of the people reading this will make this year, and the figure is only going to increase next year… but it’s probably nowhere near his NBA contract.

This sounds similar to what Allen Iverson’s financial advisor did for him– setting up an account worth $32 million that he can’t touch until he’s 55, but which feeds him $1 million annually.

Good parenting.

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12 Comments

  • Franco December 2, 2013 at 1:17 pm

    I can’t really tell through internet sarcasm, but do you dislike basketball as much as you seem to or…?

    Reply
  • Kyle Scott December 2, 2013 at 1:21 pm

    I LOVE basketball. it’s my second favorite sport. but the sixers are USELESS. when they start doing something right, ill give them credit.

    Reply
    • Kyle Scott December 2, 2013 at 2:03 pm

      Not me

      Reply
  • Franco December 2, 2013 at 1:25 pm

    I understand the dislike for the current regime, but as piss poor a brand of basketball they put out there, you still have to support them, no? I dunno, that’s just the way I feel. I hate the way they’ve been the past couple of seasons, but I don’t go shitting down their throats at every given opportunity.
    They drafted Evan Turner, there’s a start for your “doing something right”

    Reply
  • Tom December 2, 2013 at 1:25 pm

    I love the young talent we got, and the older players are good all around team players, we just need that one huge star that’s gonna put us in the mix for a championship. We haven’t had that since A.I. I watch the Sixers even though I know they aren’t goin anywhere.

    Reply
  • Kyle Scott December 2, 2013 at 1:26 pm

    i applauded their drafting evan turner, and i will root for them, but this site is not a ra ra fan site. we’re going to call out ineptitude and have some fun with stuff. i see your point, but the sixers are going to have to do a lot more than get lucky to have us start praising them. hiring thorn? keeping stefanski? having 3 different swing players? no direction? those things are all real.

    Reply
    • Kyle Scott December 2, 2013 at 2:04 pm

      Also not me

      Reply
  • New Shirtz Bro December 2, 2013 at 1:28 pm

    Living off a trust set up by his parents? Finally, something Kyle is qualified to write about.

    Reply
  • Bill December 2, 2013 at 1:31 pm

    Why would anyone dislike the current regime? So far Hinkie looks like he knows what he’s doing.

    Reply
  • That guy December 2, 2013 at 1:31 pm

    Yeah no shit. He has a white step father to make things right.

    Reply
  • Vic Vinegar December 2, 2013 at 4:21 pm

    He’s 23 years old. Is he that irresponsible with his money? I mean, I guess the parents are trying to steer MCW on the right track of not living the typical excessive, NBA lifestyle early in his career, but I thought he seemed to be a smart enough kid to manage his own wealth. Not relevant, but didn’t he have a shop-lifting incident during his time at Syracuse? Not trying to stir the pot, but who knows what he’s like off the court.

    Reply
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