"The probe will focus on ties between Leonard, the Clippers and a company called Aspiration Fund Adviser, LLC, which filed for bankruptcy this year. It listed several creditors at that time, among them the Clippers (who were owed about $30m) and a company called KL2 Aspire LLC that was owed $7m. Leonard is listed as the manager of that company in California filings. KL are his initials, and 2 is his jersey number."
"Clippers owner Steve Ballmer made a $50m investment in Aspiration, and the company and the team announced a $300m partnership in September 2021. That was about a month after Leonard signed a four-year, $176m extension with the Clippers. The team ended its relationship with Aspiration after two years, saying the contract was in default. Neither the Clippers nor Steve Ballmer circumvented the salary cap, the team said. The notion that Steve invested in Aspiration in order to funnel money to Kawhi Leonard is absurd."
The NBA opened an investigation into whether a $28m endorsement contract between Kawhi Leonard and a California sustainability services company allowed the Los Angeles Clippers to bypass league salary cap rules. The probe centers on ties among Leonard, the Clippers and Aspiration Fund Adviser, LLC, which filed for bankruptcy and listed creditors including the Clippers (owed about $30m) and KL2 Aspire LLC (owed $7m), with Leonard listed as manager. Clippers owner Steve Ballmer invested $50m in Aspiration and announced a $300m partnership with the company in September 2021; the team later ended the relationship, citing a contract default. The Clippers deny any cap circumvention and say they welcome the investigation.
Read at www.aljazeera.com
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