Overview
- The NBA hired Wachtell, Lipton, Rosen & Katz last September to investigate whether the Clippers used outside endorsements to pay Kawhi Leonard and sources report the firm’s fact‑finding is largely finished.
- Toronto paused the agreed June 30 trade on July 9 and will not complete the deal until the league announces whether penalties, including the rare step of voiding Leonard’s contract, will attach to the player and the Clippers.
- Reporting by Pablo Torre and others centers on a reported $28 million Aspiration endorsement, an alleged Daktronics arrangement and a small Rhode Island soccer stake that investigators have examined for links to Clippers money.
- Possible league responses range from fines and lost draft picks to rescinding contracts, and multiple outlets say a negotiated settlement is seen as the likeliest path though the Clippers are prepared to seek arbitration.
- League insiders tell reporters the matter could be resolved within about six weeks, roughly around Sept. 22, which could let Leonard join Raptors training camp but contested discipline or arbitration could push finality into 2027 and leave players and teams in limbo.