Kawhi Leonard Received Endorsement Payment After Minority Owner Invested In Aspiration
The Clippers‘ lone minority owner made a nearly $2MM investment in Aspiration while the company was in dire straits. The San Francisco-based environmental firm then made a $1.75MM quarterly payment to Kawhi Leonard on the same day the company laid off 20 percent of its workforce, Pablo Torre reports on his latest “Pablo Torre Finds Out” podcast as relayed by The Athletic’s Joe Vardon.
It’s the latest development regarding the potential salary cap circumvention by the Clippers. Last week, Torre broke the story that Leonard signed a $28MM endorsement deal with the company, then performed no work after Aspiration received a $50MM investment from Clippers owner Steve Ballmer. A subsequent report indicated that Aspiration agreed to pay Leonard an additional $20MM in company stock.
The NBA has hired a law firm to investigate the matter, and commissioner Adam Silver said on Wednesday that the burden of proof is on the league to find any wrongdoing by the Clippers.
Under the terms of the endorsement deal, Leonard was to be paid $1.75MM on a quarterly basis for four years. In December 2022, Clippers minority owner and vice chairman Dennis J. Wong made an investment of almost $2MM in Aspiration despite the fact that its independent auditor, KPMG, had resigned, and the company was already facing lawsuits worth millions for missed payments.
Aspiration missed a payment to Leonard in the fall before paying him in December, following Wong’s wire transfer to the firm, according to documents obtained by Torre. Payments to Leonard were marked as “critical.”
Leonard’s uncle and business manager Dennis Robertson had repeatedly contacted the company about the missed payment.
“There’s a huge freeze because there’s no money to be spent. So from the finance team’s perspective, we feel like we’re on the other end of collections calls. People are constantly coming in asking for their money. Between those months when all of this is missing – so September, October, November, and leading up to December, the actual certainty of the company even existing is up for grabs,” a former Aspiration employee told Torre. “At that point, are we gonna get paid as employees? Why does Uncle Dennis keep calling us? We have such bigger concerns that we’re thinking about, which is our own salaries. Are we gonna have to go through layoffs? Where is the money gonna come from? But lo and behold. Uncle Dennis gets paid.”
The Clippers issued a statement to Torre, which read, “The details of our relationship with Aspiration are under NBA investigation, but it is clear the company was a house of cards that defrauded Steve and many others. We look forward to sharing the facts with the league and providing them with all the information they need.”
Nuggets Announce Additions To Coaching Staff
The Nuggets confirmed the hiring of Jared Dudley as the top assistant to head coach David Adelman and announced several other additions to their coaching staff in a press release.
As first reported in early July, Dudley accepted the position with Denver over offers from Memphis and Cleveland. He spent the past four seasons as an assistant coach with the Mavericks, joining them after ending his 14-year playing career.
Another former NBA player, J.J. Barea, is joining Adelman’s staff as an assistant coach. He also worked for Dallas after his playing career ended, serving as a player development coach during the 2021/22 season. Barea had been coaching the Guaynabo Mets in his native Puerto Rico before being dismissed in May. His expected hiring was also reported in July.
Mike Moser is coming to Denver after spending the last two seasons as an assistant in Houston and the previous year as a player enhancement coach with Boston. Moser also spent time with the Mavericks and the University of Oregon women’s program, and he has coached overseas in Lithuania, Israel, Kosovo, Qatar, Finland and France.
Chase Buford was hired after serving as an assistant last season at his alma mater, the University of Kansas. He also coached in Australia, winning two NBA titles with the Sydney Kings, and in the G League with the Wisconsin Herd.
Rodney Billups, the younger brother of Portland head coach Chauncey Billups, served as a scout with Brooklyn last season. He also spent three years as an assistant with the Trail Blazers and another season as a scout with Milwaukee.
The Nuggets also announced that Andrew Munson has been promoted to assistant coach and Ben Potts was hired as head video coordinator/player development coach.
Jamarion Sharp To Sign With Mavericks
The Mavericks will sign 7’5″ center Jamarion Sharp, sources tell Michael Scotto of HoopsHype (Twitter link). Scotto doesn’t specify the terms of the contract, but it will likely be an Exhibit 10 deal.
Sharp, 24, was in training camp with Dallas last fall, signing an Exhibit 10 contract after going undrafted out of Mississippi. He was waived before the season began and wound up with the Texas Legends, the Mavs’ G League affiliate, where he averaged 5.8 points, 7.1 rebounds and 3.1 blocks per game while shooting 60.1% from the field.
Sharp was named to the NBA G League United Team in this year’s FIBA Intercontinental Cup.
The Exhibit 10 contract will make him eligible for a bonus worth up to $85,300 if he gets waived again and spends at least 60 days with the Legends.
Dallas has 15 players with standard contracts, but only two of its two-way slots are filled, so Sharp could have a chance to compete for the opening in training camp. The signing will bring the Mavericks’ roster to 20 players, one short of the offseason limit.
Cormac Ryan Joins Bucks On Exhibit 10 Contract
Free agent guard Cormac Ryan has signed with the Bucks, the team announced on Twitter. It’s an Exhibit 10 contract, sources tell Eric Nehm of The Athletic (Twitter link).
Ryan, 26, played for Milwaukee during the Las Vegas Summer League. He appeared in five games and averaged 11.8 points, 2.4 rebounds and 1.6 assists in 23.1 minutes per night.
Ryan signed an Exhibit 10 contract last fall with the Thunder after going undrafted out of North Carolina. He was waived before the season began and played for the G League’s Oklahoma City Blue, averaging 12.5 points, 3.9 rebounds and 1.9 assists in 27 regular season games.
The Exhibit 10 deal can be converted to a two-way contract, but the Bucks currently have all three of their two-way slots filled. Most likely, Ryan will end up with Milwaukee’s G League affiliate, the Wisconsin Herd, where he will be eligible to receive a bonus worth up to $85,300 if he spends at least 60 days with the team.
Ryan’s signing brings the Bucks to the league limit of 21 players on their offseason roster.
Adam Silver: Burden Of Proof Is On League In Clippers Investigation
Commissioner Adam Silver said investigators will carry the burden of proof in the NBA’s probe of potential salary cap circumvention by the Clippers, writes Tim Bontemps of ESPN.
Speaking to reporters on Wednesday at his annual preseason news conference following the conclusion of the Board of Governors meeting, Silver said the league needs to focus on “the totality of the evidence” rather than the “mere appearance” of impropriety.
“The burden is on the league if we’re going to discipline a team, an owner, a player or any constituent members of the league,” Silver told reporters. “I think as with any process that requires a fundamental sense of fairness, the burden should be on the party that is, in essence, bringing those charges.”
The NBA hired a law firm this week to handle the investigation of whether owner Steve Ballmer and the team violated league rules through Kawhi Leonard‘s $28MM “no-show” job with Aspiration. Ballmer was an investor in the green banking company, which has since gone bankrupt.
Sources told Bontemps that Wachtell, Lipton, Rosen & Katz plans to conduct a thorough investigation, and no firm deadline has been set to reach a conclusion.
Silver added that he’s “a big believer in due process and fairness,” and said other NBA owners feel the same way about the case.
“At least what’s being said to me is a reservation of judgment,” Silver said. “I think people recognize that that’s what you have a league office for. That’s what you have a commissioner for — someone who is independent of the teams. On one hand, of course, I work collectively for the 30 governors, but I have an independent obligation to be the steward of the brand and the integrity of this league. … To the extent we have had discussions (with the board of governors) — they’ve been limited — we communicated to them that we engaged Wachtell to do this investigation. And maybe I cut off any further conversations and said, ‘Let’s all withhold judgment, let’s do this investigation and then we will come back to you in terms of our findings.'”
Silver addressed a few other topics in today’s news conference:
- He confirmed the new All-Star Game format, which will feature two teams of American-born players and one international team in a round-robin competition. Silver expressed hope that the new approach will help to motivate the players. “I think in the case of the NBA, this is what I’m trying to convey, particularly to younger players, is that All-Star is a big deal,” he said. “There’s been great traditions out there. People have great memories of these All-Star Games. It’s part of the fabric of this league, the excitement that comes from it and the engagement from our players.”
- Discussions are continuing on a potential new NBA-run European league, and Silver said he and deputy commissioner Mark Tatum traveled this summer to Europe, where they met with stakeholders. Silver also denied speculation that the venture in Europe will replace NBA expansion efforts. He called them “completely different entities” and said expansion was discussed at the board meeting, although there’s nothing new to report. “Part of the difficulty in potentially assessing it is a sense of long-term value of the league, and a little bit maybe it’s a high-class problem, but as with some of the recent jumps in franchise valuations, that sort of creates some confusion in the marketplace about how you might even price an expansion franchise,” Silver said. “I’ll only say it’s something that we continue to actively look at.”
- Silver refused to say if there are any limitations on Malik Beasley‘s availability while the league investigates his role in a gambling scandal. “I’ll only say there that the investigation is ongoing,” Silver said. “As I understand it, there’s still a federal investigation that’s ongoing of Malik Beasley as well. We will address whatever is presented to us in his case.”
Germany Tops Slovenia To Round Out EuroBasket’s Final Four
Germany overcame a second-half deficit and another scoring outburst by Luka Doncic to defeat Slovenia for a spot in the EuroBasket semifinals, writes Cesare Milanti of Eurohoops. Wednesday’s 99-91 victory preserves the Germans’ chances to capture another major international title after winning the FIBA World Cup in 2023.
Germany trailed by seven points late in the third quarter, but Tristan Da Silva sank a shot from mid-court at the buzzer to cut Slovenia’s lead to 74-70. That was the beginning of a 10-0 run that saw the German team take control of the game.
Franz Wagner led Germany with 23 points and seven rebounds, while Dennis Schröder contributed 20 points and seven assists. Former NBA center Daniel Theis added 15 points and nine rebounds. Maodo Lo scored 11 points and Andreas Obst had 10, as both players knocked down clutch three-pointers late in the game to preserve Germany’s lead.
Doncic, who has been posting historic performances throughout the tournament, set another record today with 39 points, the most anyone has ever scored in a EuroBasket quarterfinal contest. Despite picking up his fourth foul early in the third quarter, Doncic also finished with 10 rebounds and seven assists to narrowly miss another triple-double.
After the game, Slovenian players voiced complaints about the officiating, with center Alen Omic telling reporters that Doncic doesn’t get the respect he deserves, per Pijus Sapetka of BasketNews. Omic also pointed to the free throw disparity, with Germany getting 37 shots from the foul line compared to Slovenia’s 25.
“Our best player in EuroBasket is not protected the way he needs to be,” Omic said. “He got three fouls in 10–15 minutes of the game. What is this? He’s the best player of the tournament. Everybody comes to watch him.”
Doncic also commented on the officials in a post-game interview with Slovenia’s Sport TV, relays Semih Tuna of Eurohoops.
“First, I got a technical foul, two minutes into a game, for yelling ‘hello’, but OK,” Doncic said. “In a quarterfinal, that shouldn’t happen, no matter what kind of player you are. If you don’t even get a warning first, then I don’t know. But it’s a quarterfinal, fighting for a semifinal, so I really don’t know how they did that.”
The semifinal games will take place Friday at Arena Riga in Latvia, with Germany facing Finland in the opener, followed by a clash between Greece and Turkey. The tournament will conclude Sunday with the gold medal game and the third-place game.
FIBA has ranked the four quarterfinal losers, with Lithuania finishing fifth, followed by Poland, Slovenia and Georgia.
Kings Waive Terence Davis
The Kings have waived shooting guard Terence Davis, per the NBA’s official transaction log (hat tip to Michael Scotto of HoopsHype).
Davis, 28, spent most of the past two seasons in the G League. He signed with Sacramento in April and appeared in the final game of the regular season. His contract included a non-guaranteed $2,546,675 salary for the upcoming season, so the Kings won’t be on the hook for any more money after releasing him.
Davis entered the NBA with Toronto in 2019, but he had his best seasons with the Kings after they acquired him at the 2021 trade deadline. He was a valuable scorer off the bench for two and a half years before going to the G League.
He suffered a ruptured Achilles during the 2023/24 season, but was able to fully recover and averaged 14.3 points per game on 40.2% three-point shooting for the Wisconsin Herd last year.
Sacramento is now down to 14 standard contracts, including Keon Ellis, whose $2.3MM deal is also non-guaranteed. The Kings currently have all three of their two-way slots filled, but no other players are on the offseason roster.
Sacramento has been rumored to have interest in trading for Jonathan Kuminga or signing Russell Westbrook, and parting with Davis provides more roster flexibility for either of those moves to occur.
NBA 2025 Offseason Check-In: Cleveland Cavaliers
Hoops Rumors is checking in on the 2025 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures, and more. We’ll take a look at each team’s offseason moves and consider what might still be coming before the regular season begins. Today, we’re focusing on the Cleveland Cavaliers.
Free agent signings
Sam Merrill: Four years, $38,000,000. Re-signed using Bird rights.- Larry Nance Jr.: One year, minimum salary. Signed using minimum salary exception.
Trades
- Acquired Lonzo Ball from the Bulls in exchange for Isaac Okoro.
Draft picks
- 2-49: Tyrese Proctor
- Signed to four-year, $8,685,386 contract. First two years guaranteed. Third year partially guaranteed ($500K). Fourth-year team option.
- 2-58: Saliou Niang
- Will play overseas.
Two-way signings
- Luke Travers
- One year, $85,300 partial guarantee (will increase to $318,218 at start of regular season).
Departed/unsigned free agents
- Emoni Bates (unsigned)
- Javonte Green (Pistons)
- Ty Jerome (Grizzlies)
- Chuma Okeke (Real Madrid)
- Tristan Thompson (unsigned)
Other roster moves
- None
Salary cap situation
- Operating over the cap ($154.6MM) and above the luxury tax line ($187.9MM).
- Carrying approximately $226.3MM in salary.
- No hard cap.
- One traded player exception frozen ($8,500,000).
- One traded player exception available ($1,000,000).
The offseason so far
When the Cavaliers fell to Indiana in the second round of the playoffs this spring, it was a gut punch for a couple reasons. First and foremost, it was an incredibly disappointing way to end what had been one of the best years in team history up until that point. Only the 2008/09 Cavs – propelled by an MVP season from an in-his-prime LeBron James – racked up more regular season victories than the 64 last season’s club won.
It was also a discouraging outcome because it happened right before the Cavs’ roster was set to get significantly more expensive. Cleveland managed to duck below the luxury tax line at February’s deadline, but even without re-signing any key free agents, the team’s salary for 2025/26 was set to enter second-apron territory.
After the Suns, Celtics, and Timberwolves got a first-hand look last season at the impact of operating in the second tax apron, those teams were all in the process of moving below that threshold this summer. Would the Cavs really be willing to go deeper into the second apron in order to re-sign guys who played key roles for the 2024/25 squad, such as Ty Jerome and Sam Merrill?
As it turns out, the answer was yes — to a point. The Cavs didn’t hesitate to negotiate a new multiyear deal with Merrill, who established himself as one of the club’s best shooters and whose defense has improved significantly since he entered the league. The two sides reached an agreement on a four-year, $38MM contract two days before the league-wide free agent period opened, keeping Merrill off the market.
While that contract is fully guaranteed, it’s only worth about 5.5% of the cap in year one and will remain in that neighborhood over the next four years. It’s a fair deal for a rotation player who figures to average 20-plus minutes per game and who won’t be played off the floor in the postseason — as a point of comparison, another Eastern Conference wing who plays a similar role, Boston’s Sam Hauser, will be paid $45MM over the same four-year period.
Although Cleveland made Merrill a priority, the front office didn’t do the same for Jerome, whose breakout year earned him a third-place finish in Sixth Man of the Year voting.
As good as Jerome was, he was exposed defensively in the playoffs, and the Cavs likely didn’t feel the need to invest heavily in another offense-first guard while already paying big bucks to Donovan Mitchell and Darius Garland — especially since doing so would have cost them exponentially more in tax penalties. After agreeing to a three-year, $27.7MM deal with the Grizzlies, Jerome suggested in a social media post that he was “never presented with the option of returning” to Cleveland.
Like the decision to pass on Jerome, the other Cavaliers’ moves were made with financial considerations in mind. That includes their straight-up trade of Isaac Okoro for Lonzo Ball. Okoro ($11MM) will only earn slightly more in 2025/26 than Ball ($10MM), but Okoro’s contract is guaranteed through the 2026/27 season, while the Cavs will hold a team option for Ball in ’26/27, giving them some extra financial flexibility.
Of course, swapping a wing for a point guard also made sense from a roster construction standpoint after having re-signed Merrill and not Jerome.
Although Ball returned last season from a two-and-a-half-year injury absence related to recurring knee problems, he still wasn’t exactly a paragon of health, having appeared in just 35 games. If he can bump that number to at least 50-60 appearances in 2025/26, it would be a major boon for the Cavs, since Ball has a knack for making his team better even when his box-score numbers don’t look all that impressive.
The Cavs used one of their second-round picks to select former Duke guard Tyrese Proctor and sign him to a multiyear contract that starts at the rookie minimum. The gap between cap hits for a rookie minimum salary ($1,272,870) and a veteran minimum salary ($2,296,274) isn’t massive, but when a team is as deep into luxury tax territory as Cleveland is, the savings represent far more than that modest difference suggests.
Proctor spent three years with the Blue Devils and should be more NBA-ready than a one-and-done prospect, but he’s still just 21 years old and may not be prepared to contribute right away. That would probably be OK with the Cavs, who figure to focus on developing Proctor’s game in the hopes that he’ll be ready to take on a more regular rotation role in a year or two.
Finally, the Cavs added some much-needed frontcourt depth by reuniting with Larry Nance Jr. on a minimum-salary agreement. Nance, who was in Cleveland for three-and-a-half seasons from 2018-21, averaged 27.6 minutes per game during his first stint with the organization. This time around, he’ll likely be asked to play a more modest role behind big men Jarrett Allen and Evan Mobley, but – as long as he’s healthy – he’ll be a solid insurance option up front in the event of an injury to either of those players.
Up next
Although injuries to Garland (toe) and Max Strus (foot) are expected to sideline them for the start of the regular season, the Cavs seem unlikely to carry a full 15-man roster due to luxury tax concerns. However, they’ll need to get to at least 14 players on standard contracts, which will require adding one more player at some point in the next month or two.
Despite being limited to minimum-salary offers for veteran free agents, the Cavs have no shortage of options for that 14th spot. If they want to add one more ball-handling guard for depth purposes due to health concerns about Garland and/or Ball, a player like Malcolm Brogdon or Cameron Payne would make sense.
With Strus expected to miss an extended period, one more wing would be a logical choice too — someone like Garrison Mathews, Landry Shamet, or Gary Payton II could fit that bill. Cleveland has also been linked to Malik Beasley, though he remains under investigation by the NBA, and it’s unclear if one of the league’s best sharpshooters will have to settle for the veteran’s minimum.
The Cavs could even target one more big man to further fortify their frontcourt behind Allen and Mobley, given that Nance is coming off a season-ending knee issue. Precious Achiuwa and Thomas Bryant are among the vets still out there.
Whichever direction they go, I’d like to see the Cavs use that spot on a player who can actually contribute rather than a locker-room leader who won’t see any action — with Garland and Strus already recovering from major injuries, Cleveland isn’t in position to throw away a valuable opportunity to add more playable depth.
The Cavaliers also have one open two-way slot to fill alongside Nae’Qwan Tomlin and Luke Travers. The path they take with their standard roster spot could dictate what position they want to address with that final two-way opening.
Finally, it’s worth noting that several key Cleveland players – Garland, Strus De’Andre Hunter, and Dean Wade – will be eligible for extensions during the preseason. However, Garland, Strus, and Hunter all have multiple guaranteed years left on their current contracts and Wade has been mentioned as a potential trade candidate in the event that the Cavs want to try to reduce their tax bill.
I’d be a little surprised if any of those four players signs an extension before the regular season begins, given Cleveland’s cap situation. The team, which is carrying the NBA’s most expensive roster in 2025/26, probably isn’t eager to lock in more long-term money earlier than it needs to.
Hawks Sign Charles Bassey To Exhibit 10 Contract
The Hawks have signed big man Charles Bassey, the team announced in a press release on Wednesday. It’s a non-guaranteed Exhibit 10 contract, a league source tells Lauren Williams of The Atlanta Journal-Constitution (Twitter link).
Bassey was selected by Philadelphia with the 53rd pick in the 2021 draft. He was waived after one year with the Sixers and signed with San Antonio, where he played for the past three seasons.
Injuries were an issue for Bassey during his time with the Spurs — his 2022/23 season was cut short due to a non-displaced patella fracture, then he suffered a season-ending ACL tear in December 2023. The 24-year-old appeared in 36 games in 2024/25, averaging 4.4 points and 4.2 rebounds in 10.4 minutes per night.
Bassey was a standout with the Celtics during Summer League play this July, averaging 15.3 points and 11.0 rebounds per contest in Las Vegas while shooting 70.4% from the field across three outings. He reportedly drew interest from Partizan Belgrade, but has decided to remain stateside as he seeks an NBA roster spot.
While most camp invitees who receive Exhibit 10 contracts don’t end up making their teams’ regular season rosters, there could be a pathway for Bassey to earn a spot in Atlanta. As we detailed last week, the Hawks are carrying just 11 players on fully guaranteed contracts (plus Vit Krejci with a significant partial guarantee), so players with non-guaranteed deals or small partial guarantees – including Bassey, Caleb Houstan, Mouhamed Gueye, and N’Faly Dante – could be vying for two or three roster spots.
Because he has four years of NBA experience, Bassey isn’t eligible to have his Exhibit 10 deal converted into a two-way contract.
Clippers Sign Zach Freemantle To Exhibit 10 Contract
September 10: The Clippers officially signed Freemantle on Tuesday, per RealGM’s transactions log. According to Law Murray of The Athletic (Twitter link), it’s an Exhibit 10 deal, as expected.
August 29: The Clippers and former Xavier standout Zach Freemantle have agreed to a deal, sources tell Michael Scotto of HoopsHype (Twitter link).
Freemantle went undrafted in June after six college seasons with the Musketeers (he missed the 2023/24 campaign due to injuries). He averaged 16.8 points, 6.8 rebounds, 2.1 assists and 1.1 steals in 31 games as a “super senior” in 2024/25, earning a second-team All-Big East nod for the second time in his career.
As Scotto notes, Freemantle was named to the Portsmouth Invitational All-Tournament team this spring. The 6’9″ forward/center suited up for the Magic during Las Vegas Summer League, averaging 6.0 PPG and 4.3 RPG in 11.0 MPG.
While Scotto doesn’t clarify what type of contract Freemantle signed, the Clippers don’t currently have the ability to sign him to a standard deal and all three of their two-way spots are occupied. He most likely signed an Exhibit 10 contract, which would put him in line to receive a bonus worth up to $85,300 if he’s released before the season begins and spends at least 60 days with the San Diego Clippers.
Once the signing is official, the Clippers will be at the offseason limit of 21 players under contract.