Clippers-Raptors Kawhi Trade Stalled Amid Salary Cap Probe
SkimNews Take
The bankruptcy of the endorsement vehicle likely surfaced the arrangement itself, suggesting cap circumvention schemes remain hidden precisely while the shell entities stay solvent.
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- The Clippers-Raptors Kawhi Leonard trade, agreed June 30, will not be completed until the NBA finishes its investigation into whether the Clippers circumvented the salary cap.
- The trade package sends Leonard to Toronto for Brandon Ingram, Gradey Dick, unprotected first-round picks in 2031 and 2033, a 2027 first-round pick swap, and two second-round picks.
- The Clippers said the deal can only be finalized if the Raptors' ownership group assumes the risk of potential penalties; the Raptors said they will wait for the league's findings rather than assume that risk.
- The NBA probe centers on Leonard's $28 million endorsement deal with now-bankrupt green banking company Aspiration, which also held a $300 million, 23-year endorsement deal with the Clippers; owner Steve Ballmer invested $60 million in Aspiration.
- Leonard and his uncle/adviser Dennis Robertson have been interviewed by investigators; outside counsel is expected to finalize its work "in the coming weeks," per an NBA spokesperson.
- Aspiration co-founder Joe Sanberg has been convicted and sentenced to 14 years in prison; the Clippers maintain they "did not funnel money" to Leonard and were "victims of a fraud initiated by Sanberg."
Why it matters: Leonard — a two-time champion and seven-time All-Star coming off a career-high 27.9-point season — is stuck in limbo along with Brandon Ingram and Gradey Dick, whose futures depend on a probe the league expects to wrap in weeks. The Clippers are betting on exoneration to close a deal they framed as conditional on the Raptors accepting penalty risk, which the Raptors publicly refused.
