Pablo Torre: Clippers bailed out Aspiration before Kawhi Leonard payday

Pablo Torre continues to find out. More specifically, the deep-diving reporter revealed additional documents regarding Clippers owner Steve Ballmer, star forward Kawhi Leonard, and the dealings with the bankrupt company Aspiration.

On Pablo Torre Finds Out with guest Dan Le Batard, Torre outlined a paper trail tying the Clippers directly to Aspiration’s ability to pay Leonard — with millions flowing at key moments that aligned with the forward’s so-called “no-show” endorsement deal.

The $118 Million Trail

“From September 2021 to March 2023, ‘Team Balmer’ — meaning Steve Ballmer, Dennis Wong, the CFO of the Clippers, and the Clippers themselves — gave a grand total of $118 million to Aspiration in 18 months,” Torre said. “Each new payment, I would argue, less defensible than the last.”

He then read from one letter, dated June 14, 2022, on Clippers letterhead:

“Please allow this letter to confirm approval by LA Clippers LLC of a withdrawal of $20,961,382 … to fund the following carbon projects.”

It was signed by the team’s CFO.

According to Torre, that $21 million was enough to pay Leonard, enough to hit Aspiration’s fundraising target, and enough to keep the company afloat — conveniently, just two weeks before Leonard’s first scheduled payday from Aspiration.

Timing, Sources Say, Was No Accident

“The money came in quickly,” Torre said, quoting one of his sources. “They didn’t sit on it or anything.”

He pointed out that Aspiration got similar infusions around Leonard’s later payments, including $2 million wired in personally by Clippers minority owner Dennis Wong, Ballmer’s former college roommate.

“The cycle revealed itself,” Torre said. “It was crucial to Aspiration’s relationship with Balmer that Kawhi Leonard gets paid. Board Man must get paid — on time — for doing nothing.”

The Collapse and Ballmer’s Buy-In

Torre also detailed how Aspiration’s financial house of cards fell apart. In December 2022, 90% of shareholders in Interprivate III — the SPAC Aspiration planned to merge with– pulled out. Yet in March 2023, Ballmer invested another $10 million at more than double his original share price.

“Even if you were to believe there was no diligence done,” Torre said, “the actual financial state of the company at that point was revealed.”