A very dirty-looking game
Aspiration filed for bankruptcy in March. Since then it has faced fraud claims, and co-founder Joseph Sanberg pleaded guilty to financial crimes tied to investor deception. Among the creditors: KL2 Aspire LLC, linked to Leonard (he’s listed as its manager), still seeking $7 million from the bankrupt company, which had a $28 million deal with him despite no evidence he did anything to earn it.
In parallel, Ballmer took part in a capital raise and invested $50 million in Aspiration. He considers himself another victim. The obvious suspicion: that money was routed to pump Leonard’s income and ensure the opaque star never stopped being a Clipper. That is explicitly banned, and Wachtell, Lipton, Rosen & Katz is investigating on the NBA’s behalf – the same firm that dug through the toxic mess that forced Robert Sarver to sell the Suns and the racist scandal that ousted Donald Sterling, who turned the Clippers into his image and was forced to sell in 2014. After Sterling came Ballmer, who paid $2 billion – then the second-highest price for a US sports franchise. Today, the little brother in L.A. is valued at $5.5 billion, with a glittering new Inglewood arena and an ultra-ambitious project that failed on the court but kept the team relevant, led most recently by Paul George and, above all, Leonard.
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