The NBA investigation into Kawhi Leonard and the Los Angeles Clippers over his deal with Aspiration is expected to conclude after this weekend’s All-Star Game. Joe Vardon and Mike Vorkunov reported for The Athletic. Leonard signed a $28 million contract with the now-bankrupt fintech company in April 2022 through his limited liability company KL2 Aspire LLC, incorporated in November 2021.
Aspiration reportedly ran into financial trouble in December 2022, prompting Clippers minority owner Dennis Wong to inject $2 million, allowing the company to pay Leonard $1.75 million, to cover his quarterly contract payments. Clippers owner Steve Ballmer later invested another $10 million during a fundraising round, with Wong as the only new investor, according to The Athletic.
The law firm Wachtell, Lipton, Rosen & Katz is conducting an independent investigation into Leonard’s contract. Sources told Vardon and Vorkunov that the investigation focused on Leonard, his uncle and business manager Dennis Robertson, Aspiration’s internal operations and the Clippers organization. A former Aspiration employee described the questioning as “too sharp,” while noting that Ballmer was not interviewed directly.
NBA Commissioner Adam Silver will review Wachtell’s findings before determining whether penalties are warranted. Any action could carry fines, draft pick losses, suspension of team officials or voiding Leonard’s contract. The league’s 29 other teams are reportedly monitoring the situation closely, in addition to public interest in Ballmer’s involvement.
Leonard, 34, is in the second year of a three-year, $149.5 million contract. He averaged 27.9 points, 6.4 rebounds and 6.4 assists per game over 41 appearances this season, leading the Clippers’ 26-28 record in the Western Conference.
Ballmer, the NBA’s richest owner, has insisted he was misled by Aspiration, which received $60 million from him through multiple investments. Leonard has denied any wrongdoing and confirmed he was not paid in full. He told The Athletic: “No, but the company went bankrupt. It was fraud, as everyone knows.”
The timing of the report’s expected release coincides with the NBA All-Star Game at the Intuit Dome, Ballmer’s $2 billion arena in Los Angeles. The league’s broader interest lies in whether the contract violates salary cap rules and whether the Clippers gained improper financial advantage.
League sources indicate that Wachtell’s previous work with the NBA over two decades could determine the outcome as the company evaluates both contractual details and organizational behavior. The decision after the All-Star Game will likely have significant ramifications for Leonard, Clippers management and future league investigations.
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