Clippers' Kawhi Leonard received payment from 'no-show job' days after investment by minority owner: report
Original story by
Fox News•Sep 11•NBA, Endorsements, Bankruptcy
📰 Article Summary
An investigation is underway regarding Los Angeles Clippers star Kawhi Leonard's $28 million endorsement deal with Aspiration Partners Inc., which filed for bankruptcy after struggling financially. Despite its financial woes, Aspiration fulfilled its contractual obligations to Leonard during layoffs, raising suspicions about the legality under NBA salary cap regulations. Clippers owner Steve Ballmer and league officials maintain that all dealings were legitimate, and they await findings from an external investigation.
📌 Key Facts
- Endorsement Contract Investigation: The NBA has launched an investigation into Kawhi Leonard's $28 million endorsement deal with Aspiration Partners, amid concerns it may have violated salary cap regulations.
- Aspiration's Financial Struggles: Aspiration Partners, an environmental company, faced severe financial difficulties, including employee layoffs, yet continued to fulfill its financial commitments to Leonard.
- Involvement of Clippers Ownership: Clippers minority owner Dennis J. Wong invested nearly $2 million in Aspiration during its financial crisis, which was later used to pay Leonard, raising questions about the ethical implications.
- Reactions from Team and NBA Officials: Clippers owner Steve Ballmer denied any wrongdoing and expressed confidence in their compliance with league rules, while NBA commissioner Adam Silver stated that the investigation would clarify the facts.
- Bankruptcy and Creditor Claims: Aspiration filed for bankruptcy, listing significant debts to multiple creditors, including the Clippers, who were owed around $30 million, highlighting the financial implications of the deal.
📂 Article Classification
Topic Tags: Kawhi Leonard Endorsement Controversy
📍 Location
Los Angeles, USA
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