The NBA has investigated startups involving Kawhi Leonard’s endorsement agreement and bankruptcy, which would have allowed the Los Angeles Clippers to sneak up on salary caps.
“We know about the media reports about the LA Clippers this morning and start investigating them,” NBA spokesman Mike Bass told NBC Sports.
Clippers Statement: pic.twitter.com/2nzr75jcto
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The deal revolves around ambition, a so-called “green bank” that was once promoted by celebrities such as Leonardo DiCaprio, Robert Downey Jr. and Drake.
According to Pablo Torre, Leonard signed a $28 million accredited contract in 2021 and signed ambitions in 2021.
Despite a lucrative deal, the PTFO claims Leonard “never made an appearance or made an appearance for the company’s social media posts.”
That same year, Clippers owner Steve Ballmer invested $50 million.
Internal documents and comments from former wish employees said the setting was “a solution to the NBA salary cap.”
“We went through a series of real, top-name contracts. Then, ‘Oh, by the way, we also had a marketing deal with Kawhi Leonard – and, if I had any questions about it, it wouldn’t be essentially because it was to circumvent the salary cap.”
The Clippers strongly denied the allegations.
“Neither Mr. Ballmer nor the Clippers bypassed the salary cap or engaged in any misconduct related to ambitions. Any assertion to the contrary is false. In the 2022-23 season, the team ended its relationship with ambitions, when the 2022-23 season, the obligation was breached when the ambitions were defaulted. Ballmer was ready to do everything he could to assist in law enforcement.”
The controversy came as Grassiation’s entire business collapsed. A few weeks ago, co-founder Joe Sanberg pleaded guilty to defrauding more than $248 million of investors. Leonard’s LLC, the Clippers and Ballmer’s Forum Entertainment are still listed among the company’s largest creditors, and bankruptcy proceedings are still underway.
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