Why did the Raptors waive Spencer Dinwiddie? How looming contract bonus impacted Toronto's decision

Scott Rafferty

Why did the Raptors waive Spencer Dinwiddie? How looming contract bonus impacted Toronto's decision image

Blink and you missed Spencer Dinwiddie's tenure with the Raptors.

Ahead of the trade deadline, Toronto agreed to a deal with Brooklyn involving Dinwiddie. But within 20 minutes of the trade deadline coming to an end, the Raptors announced that they were waiving the 30-year-old guard.

It's been a tough season for Dinwiddie, who is averaging 12.6 points on 39.1% shooting from the field, but he could've had a decent role in Toronto as Immanuel Quickley's backup.

Why did the Raptors waive Dinwiddie? Here's what you need to know.

MORE: Nets' Dennis Smith Jr. reacts to erroneous trade report sending him to Raptors

Why the Raptors waived Spencer Dinwiddie

The Athletic's Shams Charania was the first to report that the Raptors planned to waive Dinwiddie. As Charania noted in his tweet, Dinwiddie has a bonus in his contract that Toronto wanted to avoid.

Dinwiddie's salary for the 2023-24 season is $18.9 million. If he appears in 50 games, he makes an additional $1.5 million, per Spotrac.

Dinwiddie appeared in 48 games before the trade deadline, so he's on the cusp of his bonus.

Dinwiddie has another incentive in his contract related to the playoffs. That may not have been a problem for the Raptors, who currently sit in 12th place in the Eastern Conference standings with an 18-33 record, but it could impact his next team if he signs with a contender.

Spencer Dinwiddie contract details (Spotrac)
Season Salary Likely incentives Unlikely incentives
2023-24 $18,857,143 $1,500,000 $1,071,428

The Lakers, Mavericks, Pelicans and 76ers are expected to show interest in Dinwiddie, per Charania.

Spencer Dinwiddie trade details

Raptors receive:

  • Spencer Dinwiddie

Nets receive:

  • Dennis Schroder
  • Thaddeus Young

The Raptors acquired Dinwiddie from the Nets for Schroder and Young.

Spencer Dinwiddie stats

2023-24 season

  • 12.6 points per game
  • 6.0 assists per game 
  • 3.3 rebounds per game
  • 0.8 steals per game
  • 0.2 blocks per game
  • 1.3 turnovers per game
  • 39.1 percent field goal shooting
  • 32.0 percent 3-point shooting
  • 78.1 percent free throw shooting

Career

  • 13.6 points per game
  • 5.3 assists per game 
  • 3.1 rebounds per game
  • 0.7 steals per game
  • 0.3 blocks per game
  • 1.7 turnovers per game
  • 41.5 percent field goal shooting
  • 33.1 percent 3-point shooting
  • 79.4 percent free throw shooting

Scott Rafferty

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Scott Rafferty is an experienced NBA journalist who first started writing for The Sporting News in 2017. There are few things he appreciates more than a Nikola Jokic no-look pass, Klay Thompson heat check or Giannis Antetokounmpo eurostep. He's a member of the NBA Global team.