In March 2023, Steve Ballmer, the owner of the LA Clippers, invested nearly $10 million in Aspiration, a financial tech and sustainability firm. This investment came as the company was struggling financially, facing layoffs and cash flow issues. Just months earlier, Dennis Wong, Ballmer’s college friend and vice chairman of the Clippers, invested $1.99 million in Aspiration. Some reports suggest that these investments are tied to allegations surrounding Kawhi Leonard, a star player for the Clippers.
Ballmer’s involvement isn’t new; he had previously invested $50 million in Aspiration back in late 2021. This occurred shortly after Aspiration secured a partnership with the Clippers, worth over $300 million, including notable sponsorship and carbon offset agreements.
Kawhi Leonard himself signed a four-year endorsement deal worth $28 million with Aspiration soon after Ballmer’s initial investment. However, the company struggled to keep up with the hefty payments, leading to confusion about the value of Leonard’s contract within Aspiration’s ranks.
A former executive noted that Leonard’s deal seemed to appear out of nowhere, with some questioning whether it was worth the cost. Leonard received not just cash, but also $20 million in equity, which raised eyebrows among Aspiration employees.
The relationship between Aspiration and Leonard was fraught with tension from the start. There were concerns that Leonard’s limited social media presence would hinder marketing efforts. While plans were in place to feature him in campaigns, they mostly fell through, and he never promoted Aspiration publicly.
Things took a darker turn in 2025 when Aspiration filed for bankruptcy, and its co-founder Sanberg faced legal troubles, including charges of defrauding investors. According to the SEC, he inflated company revenue and misled investors, further complicating Aspiration’s already difficult financial situation.
As of now, the NBA is conducting a probe to determine if the Clippers have violated salary cap regulations. Ballmer has denied any wrongdoing, claiming he was unaware of any irregularities in Leonard’s contract.
In a public statement, NBA Commissioner Adam Silver emphasized the need for thorough investigations, stressing that appearances can be misleading. For now, both the Clippers and Ballmer are under scrutiny, awaiting the outcome of the investigations.
For more details on financial regulations and salary cap policies in sports, you can check the NBA’s official site here.
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Los Angeles Clippers, NBA
