It certainly helps to have family watching out for your best interest and that is exactly what 22-year old Philadelphia 76ers rookie MICHAEL CARTER-WILLIAMS is experiencing as his parents have locked away his NBA salary for the next three years.
MCW’s stepfather, Zach Zegarowski, and his biological mother Mandy have opted to be proactive with their son’s finances, placing the young star’s guaranteed $4.5 million rookie salary over the first two seasons into a trust fund which cannot be touched until the year 2016. Mandy and best friend Tracie Tracy are managing the MCW trust fund.
Brilliant move. This keeps the young Sixers star from mismanaging his money (as sharks are always nearby when someone this young comes into that much coin) while allowing the total to possibly grow to $10 million if the 76ers pick up the final two seasons of his four-year contract.
So what is Carter-Williams living off of, you ask? Endorsement deals with Nike and Panini trading cards which I’m sure more than covers the privileged life of an NBA star.
God bless the child that has his own. And the kid with very prudent parents, too.