Kawhi Leonard had a lucrative no-show endorsement deal with Aspiration, a now bankrupt environmental company partially backed by Clippers owner Steve Ballmer according to a bombshell report from Pablo Torre. According to Torre, Leonard signed a deal worth $28 million over four years with the company.
And it might have been even more.
Another new report from John Karalis of Boston Sports Journal says that Leonard also received $20 million in company stock. According to the Boston Sports Journal, “none of the high-powered executives were consulted about the massive, $28 million endorsement deal Leonard signed” and it was presented “as-is.”
Per Karalis’s report:
The $28 million deal was to be paid in quarterly installments over four years, but it was not the only compensation Leonard received. According to a high-level source, Leonard also cut a side deal with Aspiration to receive an additional $20 million in company stock. The stock was to be paid out from Sanberg’s personal holdings in the company over four years.
That would have brought the total compensation for Leonard to $48 million, which was very close to the $50 million Ballmer invested in the company, which he reportedly invested at a higher price than other investors according to Boston Sports Journal:
“The Oak Tree commitment to Aspiration came at $10 a share, but Ballmer paid a premium of $11 per share, raising his overall investment to $50 million. Typically, an investor of Ballmer’s caliber would have been wooed with a discounted share price, so the company could tout the investment of a major player.”
If the NBA was mad before, this is not going to help.
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