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Sources: NBA OK'd Clips' Aspiration patch deal
The NBA vetted and approved a $300 million sponsorship deal between the LA Clippers and Aspiration in 2021, months before the green banking company signed a separate deal with star Kawhi Leonard that has triggered a salary cap-circumvention investigation by the league, multiple sources told ESPN.
Two sources with direct knowledge of the arrangement said the Clippers submitted the 23-year agreement to the NBA for approval before it was announced in September 2021, as required under league rules because it contained a jersey patch component, the sources said.
The agreement also included signage in the team's yet-to-be-completed arena in Inglewood, the sources said. In April 2022, Aspiration reportedly signed a separate, $28 million sponsorship deal with Leonard that was not subject to NBA review, per the league's collective bargaining agreement.
Drake, DiCaprio, the Clippers backed this ‘green’ L.A. firm. It crumbled amid fraud claims
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Aspiration Partners made a splash when it entered the green investing space in 2013.
The Marina del Rey firm billed itself as a socially conscious online banking company, offering investments and focusing its finances on the climate crisis. It also generated and sold carbon credits meant to help offset greenhouse gas emissions.
Soon, it collected celebrity investors such as Leonardo DiCaprio, Orlando Bloom, Robert Downey Jr., and Steve Ballmer, the former Microsoft chief executive, philanthropist and owner of the Los Angeles Clippers.
The NBA is in the midst of a high-stakes investigation of the Clippers over allegations of violating the salary cap. Here is what it could mean to the team and its owner Steve Ballmer.
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