86.8 F
Cruz Bay
Tuesday, October 4, 2022


NBA superstar Tim Duncan reportedly has decided to re-establish his V.I. residency and is exploring business deals in St. Croix that could bring millions of dollars into the territory's treasury.
The V.I. Independent broke a story Friday saying that Duncan was considering both moves as a result of legislation aimed at luring athletes back to their homeland.
The legislation would offer tax breaks to Duncan in exchange for Duncan's marketing power. Part of the deal, according to the Independent, would include Duncan making himself available to the V.I. government for a "maximum of three official advertisements per year through the year 2014."
The legislation, sponsored by Sen. Adelbert M. Bryan and drafted on the recommendation of Duncan's representative, St. Croix attorney Joel Holt, would offer tax breaks to Duncan's company, T.D. Enterprises, in exchange for Duncan's promotional services, the Independent reported.
Amy Atkinson of Martin Public Relations, the territory's P.R. firm, was quoted in the Daily News' follow-up story Saturday as saying, "A third-party endorsement from someone you like and trust has an incredible effect. Tim Duncan has a stellar reputation. People love him whether they like basketball or not."
Duncan, 22, a St. Croix native, is considering opening an executive-financial headquarters, a promotional-merchandising outlet and a sports bar in Christiansted, the Independent reported. It also said Duncan's decision to re-establish residency here could bring millions of dollars in income taxes to the V.I. treasury.

Print Friendly, PDF & Email
Keeping our community informed is our top priority.
If you have a news tip to share, please call or text us at 340-228-8784.

Support local + independent journalism in the U.S. Virgin Islands

Unlike many news organizations, we haven't put up a paywall – we want to keep our journalism as accessible as we can. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. We know that informed communities are empowered ones. If you appreciate our reporting and want to help make our future more secure, please consider donating.