The Clippers owner speaks out for the first time in a while.
Los Angeles Clippers owner Steve Ballmer broke his silence on Thursday, posting a statement on X about Aspiration, the now-defunct green banking company at the center of an NBA investigation.
Ballmer admitted he was "duped" by co-founder Joe Sanberg and said he feels "silly" about not catching the fraud.
"Aspiration's founder, Joe Sanberg, engaged in fraud that injured many, and eventually, took the company down," Ballmer wrote. "I was duped and feel silly about that."
The Fallout
Ballmer first invested $50 million in Aspiration in September 2021 because of its environmental sustainability mission, then put in another $10 million in March 2023.
The Clippers also entered a $300 million sponsorship deal with the company, making Aspiration the first founding partner of Intuit Dome.
According to a letter filed by Ballmer's attorney, the owner lost his entire $60 million investment when Aspiration declared bankruptcy.
The team lost almost all of the sponsorship payments along with over $20 million in escrow that was supposed to go toward carbon offset purchases.
Sanberg pleaded guilty to two counts of wire fraud after prosecutors said he defrauded investors out of $248 million.
He is scheduled to be sentenced on April 27 in federal court in downtown Los Angeles, and each count carries a maximum of 20 years in prison.
The NBA's investigation, led by the law firm Wachtell Lipton, focuses on whether Kawhi Leonard's $28 million endorsement deal with Aspiration was a way to get around the league's salary cap.
Sanberg cooperated with investigators, sitting for two interviews and providing documents that lined up with other evidence, but Ballmer and Leonard have obviously both denied any wrongdoing.
What the Clippers Could Face
Under the current collective bargaining agreement, a first salary cap circumvention offense can bring a fine of up to $4.5 million, forfeiting a first-round draft pick and the possible voiding of contracts tied to the violation.
The Clippers already owe their 2026 first-round pick to Oklahoma City from the Paul George trade and do not control their own first-round selection until 2030, so additional draft pick losses would hit especially hard.
This has all unfolded during one of the most turbulent seasons in franchise history.
The Clippers finished 42-40 after a brutal 6-21 start and became the first team in NBA history to get above .500 after being 15 games below it.
Leonard averaged 27.9 points, 6.4 rebounds and 3.6 assists across 65 games while shooting 50.5 percent from the field, putting together one of the best seasons of his career.
James Harden contributed 25.4 points and 8.1 assists per game over 44 games before being shipped to the Cleveland Cavaliers at the trade deadline.
But the season ended with a play-in loss to the Golden State Warriors, capping off months of drama on and off the court.
With the Aspiration investigation still hanging over the organization and Leonard heading into the final year of his contract worth more than $50 million, the Clippers are staring at one of the most consequential offseasons in franchise history.