Overview

• An NBA investigation led by Wachtell, Lipton, Rosen & Katz is ongoing into whether the Clippers used a sponsor relationship to circumvent cap rules tied to Kawhi Leonard’s Aspiration deal.
• Pablo Torre’s reporting cites a $28 million endorsement labeled by former Aspiration employees as a “no-show” arrangement, with additional sums reported and a $1.99 million wire from minority owner Dennis Wong occurring days before a $1.75 million payment to Leonard.
• Steve Ballmer publicly said he was defrauded by Aspiration, insisted the team followed league rules, welcomed the probe, and told an event audience, “This too shall pass.”
• ESPN reporting describes long-standing internal fatigue over Leonard’s availability and secrecy, details that his camp sought impermissible perks in 2019, and says multiple sources believe the Clippers are done building around him as he plays out his deal through 2026–27.
• Analysts highlight potential penalties under the CBA—including multimillion-dollar fines, loss of first-round picks, and possibly voiding Leonard’s contract—if investigators find evidence of cap circumvention.