Why is $12 million worth Spencer Dinwiddie suing luxury car dealer? Lakers guard's $1 million Ferrari deal gone wrong explored

Just like several other NBA stars, veteran point guard Spencer Dinwiddie appears to be a fan of cars and he spends a good portion of his paycheck on them. However, a problem has occurred with a car purchase, causing the LA Lakers guard to sue.

According to a report by TMZ, Dinwiddie wanted to purchase a Ferrari worth over $1 million from 'Wires Only,' an automobile dealership and custom shop based in LA.

As part of the deal, Dinwiddie put down a $350,000 deposit and the dealership had to sell Dinwiddie's '76 Mustang within 45 days to help cover the cost of the Ferrari. The report states that if Wires Only failed to sell the Mustang, Dinwiddie would return the Ferrari and the deal would be off.

However, not only did the dealership allegedly fail to find a buyer for Dinwiddie's Mustang, but they also reportedly refused to return his deposit. This series of events has led the Lakers guard to sue the company.

Spencer Dinwiddie has an estimated net worth of $12 million. This comes from the contracts he's signed with the teams he has played for.

According to Sportrac, the two biggest contracts that Dinwiddie signed involved the Brooklyn Nets. In 2018, he signed a three-year extension with the Nets worth $34,362,144.

Then in 2021, he was involved in a sign-and-trade deal that sent him to the Washington Wizards. That deal was worth $54,000,000 for three years.

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Spencer Dinwiddie expressed interest in returning to the LA Lakers

The LA Lakers were able to acquire Spencer Dinwiddie without having to give up any of their assets by picking him up after he was waived by the Toronto Raptors. Dinwiddie's season with the Lakers did not last very long as they were eliminated in the opening round by the Denver Nuggets.

This summer, he has the chance to sign anywhere as he is set to become an unrestricted free agent. But if it were up to him, he would remain in LA for another attempt at a title.

During his exit interview following the Lakers' elimination from the playoffs, Dinwiddie told the media that he would love the opportunity to return. He cited the fact that he gets to play in his hometown while adding that playing with LeBron James is a massive bonus.

While he is hopeful that he can remain with the Lakers, Spencer Dinwiddie also understands that the team is likely to make changes that could result in him having to sign elsewhere.

"Obviously, if the Lakers want me back, I would love to be back. Everything I said about this being a childhood dream and being able to play in my hometown, parents in every game, stuff like that. You couldn't imagine anything better," Dinwiddie said [Start at 2:07].

As a veteran guard, Spencer Dinwiddie could end up being one of the more coveted talents in free agency should the Lakers decide to go in a different direction.

However, players are likely not the first thing on the list for the LA front office right now as they need to focus on finding the right head coach first.