Steve Ballmer Pleads Ignorance About Kawhi Leonard's Outside Money | Defector

"Clippers owner Steve Ballmer had personally invested $50 million in Aspiration; Leonard was later offered a $28 million sponsorship by Aspiration that required virtually nothing of him, and he indeed did nothing to promote the company. The only real stipulation in the contract was that Leonard needed to remain on the Clippers to receive those payouts. A follow-up report from the Boston Sports Journal claims that Leonard also had a side deal with Aspiration that paid him an additional $20 million in company stock."

"His defense, unconvincing as it is, had two themes. First, that he didn't do any due diligence in evaluating a company that his personal LLC invested $50 million in. "I reviewed-my staff reviewed-primarily fraudulent financials," he said to Shelburne. "I feel embarrassed and kind of silly that I didn't sniff it out." And second, that the timeline of events ruled out any possible malfeasance."

"In August 2021, the Clippers signed Leonard to a four-year, $176 million extension, which was the maximum amount that they could have paid him. In September 2021, the Clippers announced a partnership with Aspiration that included jersey patches and arena sponsorship. And, as Ballmer claimed in the interview, they only introduced Leonard to Aspiration in November 2021, after both of the above deals were already "locked and loaded." Ballmer claimed no knowledge of the deal signed between Leonard and Aspiration."

Steve Ballmer invested $50 million in Aspiration while the Clippers later announced an Aspiration partnership and jersey/arena sponsorship. Kawhi Leonard was reportedly offered a $28 million sponsorship that required virtually no promotion and allegedly received an additional $20 million in Aspiration stock tied to remaining with the Clippers. The payments coincided with a four-year, $176 million extension signed by Leonard. Ballmer said he failed to do due diligence and claimed Leonard met Aspiration only after the team deals were finalized. DOJ and SEC investigations into Aspiration prompted the Clippers to review related matters.

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