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.
