"The Clippers nearly granted arena naming rights to Aspiration, the now-bankrupt company that is alleged to have paid Kawhi Leonard millions to skirt the NBA's salary cap. Clippers owner Steve Ballmer denies circumventing salary cap rules, claiming he was "conned" by the company that defrauded multiple investors. The NBA is investigating whether Leonard's endorsement deal with Aspiration violated league rules. More details are emerging about a company that allegedly paid Los Angeles Clippers star Kawhi Leonard millions to circumvent the NBA's salary cap, including that the team came close in 2021 to granting naming rights for its Inglewood arena to Aspiration Partners."
"Intuit, which has a $186 billion net worth and developed TurboTax, Credit Karma and QuickBooks, ended up paying a reported $500 million over 23 years for the naming rights. Four years later, Aspiration, a sustainability firm that also generated and sold carbon credits, is out of business. Co-founder Joseph Sanberg has agreed to plead guilty to defrauding multiple investors and lenders."
Aspiration nearly secured naming rights for the Clippers' Inglewood arena in 2021 but the team awarded the deal to Intuit, which reportedly paid $500 million over 23 years. Aspiration later collapsed and co-founder Joseph Sanberg agreed to plead guilty to defrauding multiple investors and lenders. Aspiration entered a $330 million sponsorship with the Clippers and listed Kawhi Leonard among its creditors, prompting questions about a reported $28 million endorsement with no responsibilities that may have skirted NBA salary cap rules. Owner Steve Ballmer invested $50 million in Aspiration and denies circumventing rules, saying he was "conned." The NBA is investigating the endorsement.
Read at Los Angeles Times
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