Steve Ballmer Invested Another $10M In Aspiration In March 2023

[RealGM Wiretap]

Steve Ballmer invested nearly $10 million into Aspiration in March 2023, which followed his initial $50 million investment 18 months earlier, according to legal filings reviewed by The Athletic and corroborated by a former executive with the company. Ballmer's $10 million investment came as Aspiration was quickly losing cash, laying off employees and struggling to raise funds. 

The March 2023 investment by Ballmer followed a December 2022 investment of $1.99 from Los Angeles Clippers minority owner Dennis Wong. Wong is Ballmer's college roommate and vice chairman of the Clippers.

A $1.75 million payment by Aspiration was made to Kawhi Leonard shortly after Wong's investment.

The March 2023 round of fundraising had a target of $75 million, but they came up nearly $9 million short. Nearly all of the investors had previously invested into the company.

Leonard and the Clippers are under investigation for possible salary cap circumvention. Leonard received a no-show endorsement deal with Aspiration worth $28 million over four years. Leonard also received $20 million in stock.

Aspiration co-founder Joe Sanberg introduced the deal to the company, but it received scrutiny from executives as they believed it held little value.

“I am personally contributing stock to Kawhi to make this partnership possible,” Sanberg wrote members of his leadership team in a May 2022 email obtained by The Athletic. “Aspiration’s CEO judged the deal to be not worth doing. For avoidance of doubt, any and all benefit to Aspiration from the Kawhi deal is being subsidized by my contributing my equity to make this happen.”

Aspiration employees said that Sanberg built and maintained a relationship with Ballmer to convince him to invest in the company.

Via Mike Vorkunov/The Athletic

[Pickled Prunes]

Sounds like the LAC defense will be an attempt to flip the scenario around and claim that Aspiration invested heavily in Kawhi to keep Balmer invested in them... rather than the opposite where Balmer circumvented the cap by paying Kawhi through Aspiration.

[rgm70]

Sounds like the LAC defense will be an attempt to flip the scenario around and claim that Aspiration invested heavily in Kawhi to keep Balmer invested in them... rather than the opposite where Balmer circumvented the cap by paying Kawhi through Aspiration.

This is very sketchy:
The March 2023 investment by Ballmer followed a December 2022 investment of $1.99 from Los Angeles Clippers minority owner Dennis Wong. Wong is Ballmer's college roommate and vice chairman of the Clippers.
A $1.75 million payment by Aspiration was made to Kawhi Leonard shortly after Wong's investment.

The values are too close to be called coincidences... Aspiration even took a small commission ($240k) for the quick transaction. To me, this clearly shows that they were funneling money through Aspiration to pay KL.

[LakersLegacy]

A few weeks prior to the first payment
Balmer sent the money to the fraudulent company that money was wired to Kawhi
Shortly prior to another payment a different owner sent money that was also wired to Kawhi

It was the job of both Clippers owners to know not to do this

3 employees of the tree planting company have said it was done to send money to Kawhi

[Vegeta10176]

Sounds like the LAC defense will be an attempt to flip the scenario around and claim that Aspiration invested heavily in Kawhi to keep Balmer invested in them... rather than the opposite where Balmer circumvented the cap by paying Kawhi through Aspiration.

I mean its pretty obviously cap circumvention

[Pickled Prunes]

Sounds like the LAC defense will be an attempt to flip the scenario around and claim that Aspiration invested heavily in Kawhi to keep Balmer invested in them... rather than the opposite where Balmer circumvented the cap by paying Kawhi through Aspiration.

I mean its pretty obviously cap circumvention

It certainly looks that way, at least from the information we currently have. I wasn't suggesting otherwise. I was talking specifically about their legal defense. If they are innocent, their legal team will defend them with the facts. If they are guilty, and with no smoking gun, their legal team will try to create a false narrative that leads to speculation or doubt. The more doubt Silver has, the smaller the punishment will be.

[Pickled Prunes]

Sounds like the LAC defense will be an attempt to flip the scenario around and claim that Aspiration invested heavily in Kawhi to keep Balmer invested in them... rather than the opposite where Balmer circumvented the cap by paying Kawhi through Aspiration.

This is very sketchy:
The March 2023 investment by Ballmer followed a December 2022 investment of $1.99 from Los Angeles Clippers minority owner Dennis Wong. Wong is Ballmer's college roommate and vice chairman of the Clippers.
A $1.75 million payment by Aspiration was made to Kawhi Leonard shortly after Wong's investment.

The values are too close to be called coincidences... Aspiration even took a small commission ($240k) for the quick transaction. To me, this clearly shows that they were funneling money through Aspiration to pay KL.

It does look sketchy... but you can see from these statements what the team's defense might be.