Latest Clippers Carbon Credit Deals Examined Amid Kawhi Leonard Probe
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The Los Angeles Clippers’ 2022 and 2023 transactions with bankrupt “green bank” Aspiration are drawing fresh scrutiny after journalist Pablo Torre reported new details on his “Pablo Torre Finds Out” podcast.
Key purchases
• The club bought about $21 million in carbon credits from Aspiration in June 2022, days before the first scheduled payment to forward Kawhi Leonard under an endorsement agreement that required no actual promotional work.
• Two months earlier, in April 2022, the Clippers had acquired another $35 million in credits, roughly when Leonard signed that endorsement deal.
Clippers’ response
In a statement, the franchise said the purchases were part of owner Steve Ballmer’s plan to make the soon-to-open Intuit Dome a carbon-neutral, LEED Zero facility. The team said its arena agreements mandated buying offsets but that it “went far beyond those requirements,” using Aspiration to secure additional credits. The club added that Ballmer “was duped on the investment and on some parts of this agreement, as were many other investors and employees.”
Ballmer’s investment terms
Torre also disclosed that Ballmer paid $23 per share for a $10 million Aspiration stake in March 2023, shortly before authorities began investigating the company. He previously invested $50 million in 2021 at less than half that share price. Boston Sports Journal’s John Karalis suggested the higher price may have kept Ballmer’s stake below the 5 percent ceiling the NBA imposes on owners investing in firms that employ their players.
Investigation timeline
League sources told Jake Fischer on a Bleacher Report live stream that the probe into Ballmer, the Clippers and Leonard—handled by law firm Wachtell, Lipton, Rosen & Katz—is unlikely to wrap up before the 2026 All-Star Game, which is scheduled for Intuit Dome. The same firm led the 2014 investigation that forced former owner Donald Sterling to sell the team.
Possible penalties
Earlier this week, The Athletic’s John Hollinger outlined potential disciplinary actions the NBA could impose on the Clippers and Leonard but noted he does not expect the league to void the forward’s contract.
The situation remains under official review.
Source: Hoops Rumors
