@khrisody Great stuff. You are looking at this with an informed and definitely way more objective perspective than Pablo.
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Jonathan Eng
12.2K posts
Jonathan Eng
@jon_eng4
LA Clipper and general basketball fan, anime fan, gym rat #ClipperNation
Katılım Haziran 2009
444 Takip Edilen171 Takipçiler
The Wong Payment — Incentives vs. Interpretation**
The Wong payment raises eyebrows on timing alone—yes, a transfer tied to **DEA 88 Investments LP** followed by a payment to **Kawhi Leonard’s LLC** days later *can* look suspicious at first glance.
But that surface-level alignment is doing most of the heavy lifting for the cap circumvention theory—and it’s where the argument starts to break down.
1. The Missing First Question: Who Solicited Wong?**
Before assuming intent, you have to establish origin.
In 2022, Aspiration was still widely perceived as a legitimate, high-growth fintech pursuing a public listing.
At the same time, **Joe Sandberg** was actively raising capital.
A far simpler explanation:
* Sandberg solicits Wong for an investment
* A figure (e.g., ~$2M) is floated
* Wong agrees based on existing trust signals:
* His daughter’s involvement
* **Steve Ballmer’s** investment
* The Clippers/Aspiration ecosystem already in place
That’s not suspicious—that’s **standard venture behavior**.
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2. The Structure Undercuts the “Laundering” Theory**
The mechanics matter:
* Payment came through **Wong’s personal investment vehicle (DEA 88 Investments LP)**
* Funding was executed via **direct wire**
If the goal were to secretly route compensation to a player, this is a *strangely exposed* way to do it:
* Personal entity = **traceable ownership**
* Wire transfer = **clear financial trail**
* No layering or obfuscation = **high visibility**
For someone of Wong’s sophistication, that’s not how you design concealment—it’s how you execute a **routine investment**.
---
3. The Overlooked Constraint: The IPO Reality**
This is the most important—and most ignored—point:
Everyone involved believed Aspiration was going public.
A public listing through the U.S. Securities and Exchange Commission would require:
* Disclosure of financials
* Auditable transaction records
* Scrutiny of related-party dealings
So you have to ask:
> Why would multiple sophisticated actors knowingly create a **fully traceable payment trail** into a company expected to disclose everything?
That’s not just risky—it’s irrational.
---
4. A More Coherent Sequence**
A cleaner, incentive-aligned explanation:
1. Sandberg, under pressure, solicits Wong for capital
2. Wong invests via DEA 88 using a standard wire
3. Sandberg, managing internal strain, ensures obligations (including Kawhi-related payments) are met
4. The Kawhi payment is about **maintaining optics and investor confidence**—especially with Ballmer—not secretly bypassing the cap
Logical Summary**
* Wong likely made a **solicited investment**
* The **payment structure was standard and transparent**
* The **IPO expectation makes covert intent unlikely**
* Subsequent payments to Kawhi align more with **optics management under pressure** than hidden salary routing
Bottom Line
The theory hinges on timing—but timing without mechanism or intent isn’t proof.
Once you factor in Wong’s incentives, the transparency of the payment method, and the looming IPO disclosures, the idea of a deliberate, hidden cap circumvention scheme starts to look far less coherent than a much simpler explanation:
A pressured fintech managing appearances—not a coordinated effort to evade NBA rules.
CE@khrisody
Chris Finds Out : Revised The "Ballmer vs. NBA" saga is missing the most obvious angle: Steve Ballmer wasn't the mastermind—he was the mark. The Kawhi/Aspiration deal looks like cap circumvention on paper, but the actual corporate timeline tells a much darker story of a fintech grift. 2/ Context is everything: In 2021, Kawhi signed a 4-year, $176M MAX extension with the Clippers aftertearing his ACL. He was already making the legal limit. There was no "cap" to circumvent. The Aspiration deal didn't even happen until 2022. The math doesn't add up for a bribe. 3/ So why the $48M deal? Look at Aspiration. They were chasing a $2.3B SPAC merger and needed to look like a "Unicorn." To sell that story, you need a "Whale" investor. Steve Ballmer was that whale. They needed him hooked to close the deal. 4/ Aspiration first tried to buy the Clippers’ arena naming rights. When that failed, they pivoted to Kawhi. Signing the face of Ballmer's franchise wasn't about marketing—it was about credibility. It made the company look "vetted" by the world's richest owner. 5/ Why $20M in "worthless" stock? It was Equity Theater. To close a multi-billion dollar merger, you need elite names on the cap table. It wasn't a "secret payment"; it was a prop to lure other investors. If it was simple cap cheating, Ballmer would've just sent cash. 6/ Here’s the real kicker: Aspiration likely prioritized Kawhi’s payments to hide the fact they were broke. Joe Sanberg knew if he missed a payment to Kawhi, Ballmer would find out immediately. Kawhi was essentially a human shield to keep Ballmer’s millions flowing in. 7/ It’s also way more likely Sanberg told his own execs it was "cap circumvention" just to shut them up. Admitting you're bribing a player to keep an investor from seeing you're insolvent is a bad look. Telling them it’s a "strategic favor for the Clippers" makes it sound like a power move. 8/ The NBA is investigating "intent," but the facts suggest a desperate startup used a superstar as bait to keep a billionaire on the hook. 9/ The termination clause also isn’t automatic proof of circumvention. If Aspiration wanted Kawhi specifically because of his Clippers connection—and because Ballmer was a major investor—the deal ending if he left the Clippers makes business sense. 10/ And if Kawhi wanted hidden salary, why agree to a contract heavy in stock that could also be terminated? That’s a pretty sloppy structure for a secret payment scheme. 11/ Honestly, it may have been easier for Joseph Sandberg to frame the Kawhi deal as “cap circumvention” than admit the real motive: keeping Kawhi tied to the company helped maintain credibility with Ballmer and kept the money flowing. 12/ Also worth noting: the lawsuit against Ballmer appears to rely heavily on reporting from Pablo Torre, while Torre has also used the lawsuit itself to push a narrative of guilt without much added context. Closing/ As for Sandberg pleading the Fifth: that doesn’t automatically mean he was hiding a cap-circumvention scheme. If Joseph Sandberg openly admitted Aspiration misled or defrauded one of its biggest investors—Steve Ballmer—he’d be inviting another lawsuit or even criminal exposure. Any lawyer would tell him to say nothing. Don’t lose sight of the bigger picture: Sandberg is currently facing up to 40 years for wire fraud, which matters when evaluating his credibility. The Kawhi Leonard deal doesn’t look like a masterclass in cap circumvention. It looks more like a hail mary from a struggling CEO who used Kawhi’s name to maintain credibility and keep Ballmer’s reported $50M investment from evaporating. The structure looks sloppy because it likely was a desperate business move—not a professional sports conspiracy. Ballmer didn't cheat the league; he got taken for a ride by a company that needed his star player to stay relevant.
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@drift2damusiq The Clippers have a chance, but with YKN out for the rest of the season, the Clippers just don't have the size to consistently deal with Wemby. Even Lopez is a dicey proposition because of his lack of footspeed. So we have a chance, just not a great chance at upsetting the Spurs
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Let's say Galand and Kawhi stay on a heater. Collins gets back to pre shoulder injury form and Mathurin discovers his 3. How confident are you in the Clippers potentially taking 7th and upsetting the Spurs?
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@khrisody Oh yeah, the Clippers don't want to give him what the 76ers gave PG. That contract is already an albatross. But Kawhi has to accept the comfort of being home and willing to take the hometown discount. If he took what Harden got, the 2 years 70M deal, that would be a win.
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The only delay effected by the current Aspiration investigation is Contract Extensionvtalks betweein The Clippers and Kawhi.
Which I'm told The Clippers hold as priority once the situation is close and the idea They are so called out the Kawhi business is to quite correctly "Laughable " and that the relationship between player and team is as strong as ever
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@jmi1323 I got Bron vs DRose. Haha. Prime Bron would demolish prime DRose.
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@Whidagoat @jmi1323 The Warriors literally have nothing they could offer that would entice the Clippers to even consider trading them Kawhi.
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Trade at least 3 1sts for Kawhi
Hoops Alerts@TheHoopsAlerts
The Golden State Warriors are expected to “go hard” for LeBron James or Kawhi Leonard this offseason (via Tim Kawakami)
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@LilyEBatum I definitely don't think Huff missed those FTs on purpose, but karma came back to haunt him for flopping. Ball don't lie.
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Ils veulent juste décrédibiliser la victoire des Clippers.
Rien de plus.
Il a flipper, il a raté … bonne nuit.
Adam Auslund@followAdamA
For those saying Huff missed on purpose, why flop in the first place to draw the foul if you aren't trying to win? I don't buy he threw the game.
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@mathomp_501 @FlemingsEnjoyer If Mike Dunleavy was smart, I wouldn't trade their pick if it lands 4th. They need to start looking at the future, especially once Jimmy tore his ACL this season, their window w/ Steph completely closed.
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@FlemingsEnjoyer I don’t think the Warriors would trade that pick tbh
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If you’re trading Kawhi for picks and Podz, you may as well trade Garland too, cause you’re not going to be good for a few years.
If they trade Kawhi, it’ll be for a more player base package.
Michael@Socratic_End
@mathomp_501 No they aren't. If the Clippers are smart they will sell very high going into the new era like they did Zu. Plus Kawhi may not mind staying in CA. It's an ideal trade partner if we can get 3 1sts back or if it's THIS year two picks.
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@Socratic_End @mathomp_501 You realize Jimmy Butler is 36 years old going on 37 and tore his ACL this season, right?
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@mathomp_501 Depends WHEN it happens. Warriors could also move Butler prior. It’s an expiring 1 year deal, same as Kawhi. So even IF it includes butler who cares? Perfect player for a treadmill 40 win type season while young guys develop. I’ll take Butler for 2-3 picks.
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@dave_south39949 @mathomp_501 What would the Warriors be able to offer that the Clippers would seriously consider trading Kawhi to them?
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@djf_primal @mathomp_501 The Warriors have nobody outside of maybe Podz that I would want. Everyone else (Jimmy Butler included) would be filler to make salaries match. Even then, Jimmy most likely isn't going to be able to play next year as he recovers from his ACL tear.
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@mathomp_501 Only way I see this happening is if, they take as many valuable picks from Golden state, and flip those picks and some players they get to Milwaukee for Gianni’s. Cause I’m sorry. U can’t win with just DG. U gotta have a bigger star than him that’s more of an unstoppable force.
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@NBAFanNomad @NoseBleedsSport @drift2damusiq @APH00PS Brook has been mostly fine aside from his lack of rebounding. He is great at boxing out though. The perimeter defense between DJJ/Dunn/Kawhi/Math has been great at mitigating Brook's poor footspeed and lateral movement
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@NoseBleedsSport @drift2damusiq @APH00PS If Lopez could rebound and defend the entire perimeter more like Mitch he’d be a more rounded stretch 5. Lopez barely grabs 5 boards a game which is awful for a 7’ guy, older or not. I don’t think Mitch is worth taking either but Lopez isn’t enough for paint presence too.
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@NoseBleedsSport @drift2damusiq @APH00PS We do need another center with size to either be the backup or interim starter until YKN get back. Brook isn't a spring chicken and we cannot expect him to keep playing at his current level forever.
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@drift2damusiq @APH00PS Brook Lopez has been doing just fine. If he hasn’t stated that it’s his last year then I’m cool with him being back.
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@KevinOConnor @JLin7 JLin should do color commentary or join a studio show. That is an awesome breakdown of a partial scouting report on Luka. I love this kind of stuff that teaches people about the game.
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Man @JLin7 is awesome at this
Oh No He Didn't@ohnohedidnt24
Jeremy Lin with an awesome breakdown on how Luka is so good in isolation:
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After the Kawhi shot:
- Nembhard throws inbound lob into the hoop for a turnover
- Mathurin misses both FTs
- Siakam rebound and timeout
- Pacers inbound again, Huff fouled for 2 FTs
- Huff misses both FTs with 0.1 seconds
Clippers win.
Underdog NBA@UnderdogNBA
KAWHI FOR THE WIN
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@APH00PS If I was LFrank, I would pick the best guy available regardless of what Kawhi wants. By all accounts, Kawhi isn't as demanding a guy to get his friends signed so he should be easier to work with in who to draft and LFrank should have more autonomy
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@TomerAzarly Great piece. I watched Zu's tribute video online and I teared up and cried a bit. One of the best human beings and basketball players to ever suit up for the Clippers.
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"I tried to win a championship for this franchise. Unfortunately, I couldn't, but I did everything I could."
Inside Ivica Zubac's emotional trade deadline week, heading to the Pacers and leaving the Clippers proud and beloved after 8 seasons.
clutchpoints.com/nba/los-angele…
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@ClippersPod Chris Mannix hasn't been credible as a reporter in years. He fell into the clickbait/rage bait stuff which annoys me. I'm glad when he does his podcast w/ Rachel Nichols, that Nichols reins him in with her conservative and reasonable takes
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@DimeDropperPod Oh, he ain't the best playmaker ever, but he is a really good one.
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@jon_eng4 His Stan’s think he’s the best playmaker ever
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Man brought up a tweet from almost a year ago. These plumber Jim Stan’s are fucking comedy.
I wake up every day thankful I don’t gotta deal with them and watch that fun killer play that dogshit brand of basketball that’ll never win shit
Ash ™️@ash4nd1021
The Cleveland Cavaliers since February 3rd rank (20 game sample) 11th in fewest avg seconds per touch 13th in fewest dribble per touch 7th in elbow touches 10th in passes per game 10th in assists per game James Harden is also taking 2.4 CAS3s a game
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