At this trade deadline, the Brooklyn Nets traded Spencer Dinwiddie to the Toronto Raptors for Dennis Schroeder and Thaddeus Young. Dinwiddie was then waived by Toronto, seemingly just for cost-cutting reasons. After clearing waivers, Dinwiddie signed with the Los Angeles Lakers. This signing not only helped the Lakers rotationally, but it also revealed an interesting wrinkle in Dinwiddie's contract, a refreshing change of pace from the three-comma, four-comma deals we so often see in professional sports.
Spencer Dinwiddie explains his $1 championship contract bonus
Dinwiddie is expected to make $1.5 million this season. Per ESPN's Bobby Marks, the Lakers signed Spencer Dinwiddie to the remaining portion of their non-tax mid-level exception. Since Gabe Vincent signed at less than the full midlevel exception, the Lakers were able to offer Dinwiddie a little more than the prorated veterans minimum. Wow, that's a lot of fancy NBA terminology. Don't panic. Here's what's important, Dinwiddie's base salary includes an incentive. That is, if the Lakers win the NBA Championship, Dinwiddie gets $1.
As @mcten reported, the Lakers signed Spencer Dinwiddie to the remaining portion of their non-tax mid level exception.
— Bobby Marks (@BobbyMarks42) February 11, 2024
Here is the breakdown:
Base
2023-24- $1,554,654
Incentive
$1- If the Lakers win the NBA Championship
Dinwiddie explained to ESPN's Dave McMenamin how this $1 incentive was in his last deal with the Wizards. Basically, Dinwiddie and his agent got a kick out of it, so they kept it. "Me and Glushon basically made a deal that we're going to keep it in whatever deal I sign if possible going forward. It's kind of like a thing me and him bond over." Even though Dinwiddie is now on a team with serious championship aspirations, he still wouldn't re-negotiate. "It has more so to do with the tie between me and my agent than anything actually monetarily."
Spencer Dinwiddie explains the $1 contract incentive bonus if the Lakers win the championship as sort of an inside joke that him and his agent, Jason Glushon of GSM, concocted pic.twitter.com/a7ni5HN28j
— Dave McMenamin (@mcten) February 12, 2024
In his debut as a Laker, Dinwiddie recorded seven assists, the second most in a Lakers debut off the bench in franchise history. Spencer is an LA native. He's well-established in the league. With no Gabe Vincent, the Lakers lack a secondary ball handler/shotmaker aside from D-Lo and AR. Dinwiddie should be able to provide offense, and at the very least, depth to a team riddled with injuries.