Skip to content

Michael Carter-Williams salary going into trust he can’t touch

Dec 2, 2013, 2:54 PM EDT

Oklahoma City Thunder v Philadelphia 76ers Getty Images

Sixers’ rookie Michael Carter-Williams is putting up the best rookie numbers in Philadelphia since Allen Iverson. Which is a good comparison. A very good one. But there is one area where Carter-Williams is not following the pattern of Iverson (a notorious spender):

MCW has yet to touch a dime of his salary this season. That’s $2.2 million guaranteed this season (and $2.3 million next season) that he is just putting in the bank.

All of his money right now is going into a trust set up by his family, as reported at the Philadelphia Inquirer (via The 700 Level at CSNPhilly.com).

Nowadays, (his mother) 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.

Smart. You don’t want to go Iverson and just buy new clothes in every town so he didn’t have to carry luggage on the road.

He’s likely to have a few more endorsement deals rolling in soon the way he has played as a rookie averaging 17 points and 7.1 assists per game. He is fast becoming the face of the Sixers.

The perception of the casual fan follows what Patrick Ewing said back in the day — NBA players make a lot of money and spend a lot of money.

The reality is some do live beyond their means even though they make millions, some are smarter about their money. It’s the same with every pro sport. And before you get all preachy on that soapbox answer me this: What would you have done if you had millions at age 21? Bought treasury bonds?

Like everyone else, NBA players need some support around them to help them make good decisions. Carter-Williams has that and it shows in his play on the court, and that he will now be set up for life (and maybe generations).

  1. phillysports1 - Dec 2, 2013 at 3:09 PM

    Face of the sixers .

    • felser - Dec 2, 2013 at 3:15 PM

      For now, for sure. We’ll see what happens next year when Noel and their 2014 #1′s are around But he has certainly been a pleasant surprise in every way, and looks awfully good for being the #11 pick.

  2. phillysports1 - Dec 2, 2013 at 3:10 PM

    Mcw = Iverson
    Nick Foles = Mcnabb

    • 32stork - Dec 3, 2013 at 1:24 AM

      Idiot.

  3. bougin89 - Dec 2, 2013 at 3:15 PM

    It’s sad we don’t hear more stories like this. Smart young man.

  4. brento1499 - Dec 2, 2013 at 3:36 PM

    No problem, he’ll just steal everything he needs for lord and Taylor’s

    • 32stork - Dec 3, 2013 at 1:25 AM

      Yet another idiot.

  5. nolahxc - Dec 2, 2013 at 3:41 PM

    Hopefully his mother can’t touch that money either. Hate for him to end up in a Bernie Kosar situation.

    This kid sounds like the kinda guy many other players in the NBA should look up to.

  6. dooksinclair - Dec 2, 2013 at 3:45 PM

    His Mom’s friend is named Tracie Tracy?

    • drewvt6 - Dec 3, 2013 at 2:00 AM

      Never trust a person with 2 first names.

      • fanofevilempire - Dec 3, 2013 at 2:57 PM

        said the guy who spells his name with a 6

      • fanofevilempire - Dec 3, 2013 at 2:57 PM

        said the guy who spells his name with a 6

  7. redbullenergydrink - Dec 2, 2013 at 3:56 PM

    This is unheard of! Good for the young kid! Be smart with your money!

  8. wwttww - Dec 2, 2013 at 4:09 PM

    Iverson+McNabb = 0 Titles

    • mytthor - Dec 3, 2013 at 2:11 AM

      Ah yes. The ever-popular “combined titles for point guards and quarterbacks in the late 90′s and early 2000′s” statistic. Good thing you were here to point us toward that gem.

      Tim Hardaway+Dan Marino = 0 titles.

      See? I can do it, too!

  9. The History Bear - Dec 2, 2013 at 5:06 PM

    um… nobody’s got anything to say about the fact that his money is being looked after by a woman named Tracie Tracy?

    • mytthor - Dec 3, 2013 at 2:12 AM

      Not since an hour and a half ago when the other guy made that comment.

  10. sounddawg313 - Dec 2, 2013 at 5:15 PM

    Iverson had a trust setup for him also guess the writer didn’t get that info

    • jusdre313 - Dec 2, 2013 at 8:03 PM

      yeah i swear it happens on every website that post something about AI. the NEVER mention he has a trust with 55 million in it.

  11. seanb20124 - Dec 2, 2013 at 5:49 PM

    Hanger on sand long lost cousins hate this story

  12. 00maltliquor - Dec 2, 2013 at 5:53 PM

    Tracie Tracy

    hehe

  13. padraighansen - Dec 2, 2013 at 8:04 PM

    Ran into a former Padre & Brewer 2B on a flight one night, and we got to talking professional athletes and big contracts. He had some interesting stories, but what struck me is what he did: Everything went into an account, and he lived off of $250,000 per year, paid to him in 24 checks per year…just like a normal corporation. Now, by this time, he was living in San Diego, and making $250 a year is not going to buy you a McMansion anywhere around SD or SoCal…but it’s smart.

    I worked with a guy several years ago that had a cup of coffee with the Bucs & Jags…played roughly 3 years in the NFL. He had a $700,000+ house in suburban OKC, and was working primarily to pay the taxes and insurance on the place. The guy was barely making ends meet…but he didn’t want to give up that house, no matter how much the total cost of ownership was to him.

    • mytthor - Dec 3, 2013 at 2:16 AM

      The rule of thumb is that you should spend about a quarter of your income on housing. for $250k a year that’s a 30 year mortgage $10,000 a month. That’s about a 2 million dollar home. I think he’ll be ok.

      • spursareold - Dec 3, 2013 at 11:46 AM

        You figures are wrong.

        $250K * .25 = 62500 => 62500/12 = $5208 for the mortgage. That’s also gross income, not net, which is what you usually base your spending decisions on.

      • mytthor - Dec 4, 2013 at 2:49 AM

        Well true my math was off, but you do base the budget on gross income. And as you make more money, the amount that you can use for discretionary spending proportionally goes up, because just because someone makes 10 times more than the average person doesn’t mean then spend 10 times more on food, utilities, etc.

        It’s still a 1 million dollar home, nonetheless.

  14. genericcommenter - Dec 2, 2013 at 11:34 PM

    I’m pretty sure this same site, in between the posts about Iverson’s supposed hardships, previously wrote that Iverson had some sort of trust or annuity (or a Bobby Bonilla plan, I’m not sure) that guaranteed him millions per year for life.

    • genericcommenter - Dec 2, 2013 at 11:38 PM

      Yes, just checked. Kurt even wrote that story and linked to it previous posts.

      • Kurt Helin - Dec 3, 2013 at 3:45 AM

        Yes, it’s called the Reebok account (as I remember without looking it up) and it was a portion of his money set aside in a trust situation. However, reports are he burned through most of his earnings and often burns through his annual allotment quickly. Take those reports however you wish, but back in the day there is no doubt Iverson was a big spender.

      • genericcommenter - Dec 3, 2013 at 4:21 PM

        I had a Reebok account, too. Except it was savings from a $4.25/hr summer job, and it was depleted in 1993.

  15. jpforrest2013 - Dec 3, 2013 at 12:36 PM

    And who is managing MCW’s mom? Ask Marcus Liberty what happens when momma manages the finances….Tracie-Tracy? You guys can’t be making this stuff up!

Leave Comment

You must be logged in to leave a comment. Not a member? Register now!

Featured video

Stephenson goes elsewhere for his future
Top 10 NBA Player Searches
  1. K. Love (4699)
  2. L. James (3599)
  3. A. Wiggins (3590)
  4. R. Allen (3491)
  5. E. Bledsoe (3085)
  1. K. Bryant (3002)
  2. D. Rose (2939)
  3. C. Boozer (2467)
  4. L. Stephenson (2458)
  5. K. Marshall (2426)