Investigation into Kawhi Leonard: Clippers issue statement as additional payments from Steve Ballmer emerge
In a surprising turn of events, the National Basketball Association (NBA) is currently investigating the Los Angeles Clippers and owner Steve Ballmer for alleged cap circumvention, involving a "no-show" endorsement deal for star player Kawhi Leonard with bankrupt company Aspiration.
The investigation, which was first broken by investigative sports journalist Pablo Torre on his podcast, "Pablo Torre Finds Out," has unveiled a series of prepaid carbon credit purchases from the Clippers in 2022, totaling $56 million. The payments, made from April 1, 2022, to June 17, 2022, aligned closely with Leonard signing his endorsement deal and the due date of his first quarterly payment.
Notably, a $32 million purchase of carbon credits was made on April 4, the same day Leonard signed his endorsement deal. This investment was made just weeks before a government investigation into the company began and three days after Forbes ran a story on the company's floundering situation.
Mark Cuban, who has defended Ballmer publicly in this scandal, wrote on Twitter that the "easier and safer" way to circumvent the CBA would've been to purchase more carbon credits rather than investing in the company.
The Clippers, however, explain the massive purchases in carbon credits weren't just to offset the Intuit Dome, but rather to go "far beyond" those requirements, focusing on sustainability. The NBA will have to determine whether this continued investment is enough proof to prompt a significant punishment for the Clippers.
The podcast's fourth episode, released Thursday morning, offers further reporting and details about alleged funding from Ballmer and the Clippers into Aspiration. The continued investment in Aspiration by Ballmer, despite others not doing so, raises eyebrows. Ballmer's last investment for stock in Aspiration was for $23 per share, more than double the $11 share price he'd initially bought in for back in September 2021.
In a strange twist, 19 investment firms turned down additional investments in Aspiration in late 2022 and early 2023, according to founder Joe Sandberg. The search results do not provide information about the name of the person who made the last investments by Steve Ballmer and the Los Angeles Clippers in the bankrupt company Aspiration.
As the investigation continues, public opinion is being shaped, not just for fans, but other owners and people who work for teams around the league. The league will have to determine whether the Clippers' case for explaining the massive carbon credits purchase is strong enough to avoid a significant punishment.
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