Overview

• Bank records reported by Pablo Torre show DEA 88 Investments LP, tied to Clippers vice chairman Dennis J. Wong, wired about $1.99 million to Aspiration on Dec. 6, 2022, and nine days later Aspiration paid $1.75 million to Leonard’s KL2 Aspire LLC.
• Aspiration made the payment as it was laying off roughly 20% of its workforce and after missing a scheduled quarterly installment; internal documents labeled Leonard’s payment as “critical,” according to the reporting.
• Leonard’s Aspiration deal was reportedly four years and $28 million with $1.75 million due quarterly and provisions allowing him to decline promotional activity; separate reporting notes additional stock considerations.
• The NBA has hired Wachtell, Lipton, Rosen & Katz to run an independent investigation, and Commissioner Adam Silver says any discipline requires clear proof rather than a mere appearance of impropriety.
• Steve Ballmer and the Clippers deny any scheme and describe Aspiration as a “house of cards” that defrauded investors; the company is in Chapter 11 and co‑founder Joe Sanberg has pleaded guilty to wire fraud, with proven cap circumvention carrying penalties such as fines, forfeited picks, contract voiding, or suspensions.