Overview
- The NBA opened an independent investigation in September 2025 after reporting that Aspiration paid a $28 million endorsement tied to Kawhi Leonard and that the Clippers may have helped funnel money to avoid the salary cap.
- On June 30 the Clippers and Raptors agreed a trade to send Leonard to Toronto but the teams paused the transaction after the league told Toronto it would assume the risk of any penalty affecting Leonard’s contract.
- Commissioner Adam Silver said he is hopeful the Wachtell Lipton investigation will finish this summer and stressed the league did not pause the trade, saying the teams chose to wait because the outcome could affect the contract.
- Reports say Wachtell has expanded its review to include a possible second endorsement and that the probe has been slowed by Aspiration’s bankruptcy and reluctant witnesses, complicating evidence gathering.
- Potential punishments range from fines and lost draft picks to suspension or voiding Leonard’s contract, and sources say Toronto would likely proceed with the deal unless the contract is voided, while the Clippers and players face roster and career uncertainty.