Overview
- Gibson, a longtime Clippers season-ticket holder and former DLA Piper trial lawyer, was nominated by owner Steve Ballmer and approved by the NBA to begin immediately, a move reported by multiple outlets on Monday.
- The team has accepted the league's penalties, paid a $30 million fine and forfeited five future first-round draft picks after an independent Wachtell Lipton review found salary-cap circumvention tied to off-court arrangements for Kawhi Leonard.
- Gibson named general manager Trent Redden interim president of basketball operations and promoted Mark Hughes to interim general manager to cover Lawrence Frank’s six-month suspension.
- The Clippers completed the previously agreed trade sending Kawhi Leonard to Toronto for Brandon Ingram, Gradey Dick and draft compensation, and Leonard was fined $700,000 by the NBA.
- Federal prosecutors in the Eastern District of New York have opened a criminal inquiry and regulators including the SEC have requested records, which means legal and regulatory risks for the franchise could produce further disclosures or actions.