Official: Kawhi Leonard Received $1.75 Million from Aspiration Shortly After Clippers Partner’s Investment

The NBA is investigating a potentially explosive situation involving Kawhi Leonard, the Los Angeles Clippers, and a now-bankrupt financial firm called Aspiration. A new report from the podcast Pablo Torre Finds Out has revealed troubling details about a sequence of financial transactions linking the Clippers, one of their limited partners, and Leonard—raising questions about possible salary cap circumvention.

NBA Investigating Clippers-Affiliated Transactions

The report alleges that a limited partner of the Los Angeles Clippers, Dennis J. Wong, invested nearly $2 million into Aspiration just nine days before the company paid $1.75 million to Kawhi Leonard as part of a $28 million endorsement deal. The timing and nature of these financial moves have triggered an NBA probe into whether the Clippers, under owner Steve Ballmer, may have violated league rules.

The NBA’s investigation will seek to determine whether the Clippers attempted to circumvent the league’s salary cap, an offense that could carry serious penalties under the 2023 NBA collective bargaining agreement. These could include fines, lost draft picks, voided contracts, and even suspensions of team officials.

Key Timeline of Events

Understanding the context of this situation requires a look at the key timeline:

• September 2021: Clippers owner Steve Ballmer invested $50 million in Aspiration through his personal LLC.

• Two weeks later: The Clippers announced a $300 million partnership with Aspiration.

• April 2022: Kawhi Leonard signed a four-year, $28 million endorsement deal with Aspiration via his company, KL2 Aspire.

• Nine days before Leonard’s payment: Limited partner Dennis J. Wong invested $1.99 million in Aspiration.

• Late 2022: Aspiration delayed payments and began facing severe financial issues.

• March 2025: Aspiration filed for bankruptcy.

• August 2025: Aspiration co-founder Joe Sanberg pleaded guilty to wire fraud, admitting to defrauding investors of over $248 million.

Kawhi Leonard’s “No-Show Job” at Aspiration

A whistleblower who worked at Aspiration told Torre that the deal with Leonard was, in effect, a “no-show job” and was allegedly designed to bypass the salary cap rules. The source claimed that Leonard received payment for minimal or unclear duties, and that the transaction was not a typical athlete endorsement.

This report has intensified public and league scrutiny. Under the NBA’s rules, if a team is found to have coordinated or influenced third-party endorsement deals to offer extra compensation to a player, it would be considered salary cap circumvention, a serious breach.

Steve Ballmer Responds: “We’ve Done the Right Thing”

Clippers owner Steve Ballmer addressed the situation publicly on September 4, stating:

“The allegations have not been true. But what’s most important to me is we’ve done the right thing in all those interactions. You know Kawhi’s business is Kawhi’s business. But we’ve always done the right thing.”

Ballmer distanced both himself and the organization from Kawhi Leonard’s personal business decisions. However, critics argue that Ballmer’s $50 million investment into Aspiration, followed closely by a massive team sponsorship and Leonard’s endorsement deal, creates a troubling appearance—even if not technically in violation.

Clippers Release Official Statement

The Clippers organization also issued a formal statement to Pablo Torre on Wednesday, emphasizing their commitment to league compliance:

“The details of our relationship with Aspiration are under NBA investigation, but it’s clear the company was a house of cards that defrauded Steve and many others. We look forward to sharing the facts with the league and providing them with all the information they need.”

The statement reiterated that there was no oversight by the Clippers or Steve Ballmer over Leonard’s deal with Aspiration. The team called any suggestion of wrongdoing “flat-out wrong.”

Adam Silver Weighs In on Burden of Proof

During his annual press conference following the NBA’s board of governors meetings, NBA Commissioner Adam Silver addressed the investigation:

“I think, as with any process that requires a fundamental sense of fairness, the burden should be on the party that is, in essence, bringing those charges.”

Silver’s remarks suggest the NBA intends to proceed carefully and methodically, relying on evidence gathered during the probe rather than public opinion or speculation.

The Aspiration Collapse and Legal Fallout

Aspiration, once pitched as a socially responsible fintech company, is now under federal investigation for fraud. Its co-founder, Joe Sanberg, admitted guilt in August 2025 to two counts of wire fraud, acknowledging he defrauded investors and lenders out of $248 million. These revelations not only cast doubt on the company’s credibility but raise concerns about any deals it made—including the high-profile endorsement with Kawhi Leonard.

The company had been experiencing financial instability for months before declaring bankruptcy, according to reports. The payment to Leonard was allegedly delayed and came as Aspiration was already spiraling toward collapse.

KL2 Aspire: The Leonard-Endorsed Entity

Kawhi Leonard’s endorsement agreement with Aspiration was signed through his company, KL2 Aspire. According to Pablo Torre’s reporting, a clause in the agreement stated that the deal would be voided if Leonard left the Clippers, adding another layer of complexity to the investigation.

Another clause reportedly allowed Leonard to refuse any action requested by Aspiration and still receive payments, a highly unusual arrangement that may point to the endorsement being structured more like guaranteed compensation than a traditional brand deal.

NBA’s Legal Team and No Timeline for Conclusion

To ensure impartiality and depth, the NBA has reportedly brought on Wachtell, Lipton, Rosen & Katz, a respected New York law firm, to conduct the investigation. No deadline has been set for the completion of the review, and findings will be disclosed upon conclusion.

Potential Penalties for Salary Cap Circumvention

If the Clippers are found guilty of circumventing the NBA’s salary cap, the league could impose several penalties under the 2023 CBA, including:

• Fines up to $7.5 million

• Loss of draft picks

• Voidance of Kawhi Leonard’s contract

• Suspension of involved team personnel for up to one year

These potential consequences demonstrate the seriousness of the allegations. Even if the Clippers are cleared of wrongdoing, the NBA’s response will likely set a precedent for how third-party business arrangements involving players are handled in the future.

Final Thoughts: What’s Next for Kawhi Leonard and the Clippers?

The Kawhi Leonard–Aspiration endorsement controversy has quickly escalated into a full-blown league investigation, with far-reaching implications for player endorsements, ownership transparency, and cap enforcement. While the Clippers and Leonard have denied any misconduct, the tight timeline between financial moves and personal deals raises red flags that the NBA cannot ignore.

As the investigation unfolds, all eyes will remain on Adam Silver, the Clippers front office, and Leonard himself, whose image has historically remained low-profile. Whether this situation results in disciplinary action or simply acts as a cautionary tale, it underscores the importance of transparency in the business of sports.

For now, the NBA probe continues, and the basketball world awaits the league’s verdict on what could become one of the most complex financial controversies in recent league history.