NBA rookie can’t touch his salary for three years
It seems like we’re always hearing about a former professional athlete losing all of their money.
The Philadelphia Inquirer explains the steps he and his mother, Mandy Carter-Zegarowski have made to make sure he saves money:
Nowadays, 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.
Now that makes a lot of sense.