Marc Lasry Rejects Claims of Salary Cap Circumvention by Steve Ballmer
Marc Lasry, former co-owner of the Milwaukee Bucks, expressed skepticism over recent allegations that Los Angeles Clippers owner Steve Ballmer circumvented the NBA salary cap through a covert financial arrangement involving superstar Kawhi Leonard.
In an exclusive interview with CNBC, Lasry stated, “It’s not something I would ever believe. I’ve known Steve a long time and I’ve known his partner [Clippers minority owner] Dennis [Wong] a long time. I’ve always found them to be honorable and gentlemen.” He emphasized the NBA’s strict adherence to rules, noting, “In the NBA, everybody knows the rules. You follow it, and it’s because you know that if you don’t, you’re just going to get in a lot of trouble.”
Background of the Allegations
Earlier in September 2025, journalist and podcast host Pablo Torre reported that Leonard had entered into a $28 million sponsorship agreement with Aspiration, a financial services company. The deal reportedly required minimal engagement from Leonard while providing substantial payments.
Steve Ballmer had invested $50 million in Aspiration. Sources cited by Torre suggested the arrangement was intended to circumvent the NBA’s salary cap by funneling additional compensation to Leonard off the books. This prompted the NBA to initiate an investigation into the matter.
Responses and Context
Ballmer and the Clippers have categorically denied any attempts to skirt salary cap regulations. Meanwhile, Aspiration filed for bankruptcy earlier this year, and its co-founders have been charged with fraud—factors that complicate the situation but do not directly implicate Ballmer or the Clippers in wrongdoing.
Lasry characterized the allegations as “probably a lot of smoke,” expressing doubt about their validity. He acknowledged the competitive pressures in the NBA but maintained that such pressures do not extend to violating league rules.
Lasry sold his stake in the Bucks in 2023 to Cleveland Browns owners Jimmy and Dee Haslam at a valuation of $3.5 billion.
FinOracleAI — Market View
The allegations concerning Steve Ballmer and the Clippers raise reputational risks for the franchise and could prompt league sanctions if proven. However, Marc Lasry’s dismissal of the claims and the denials from Ballmer suggest the situation may not materially impact the Clippers or NBA financial operations in the short term.
Investors should monitor the NBA investigation’s findings closely, as any confirmation of salary cap circumvention could affect team valuation and league policies. The bankruptcy and fraud charges against Aspiration add complexity but do not directly implicate the Clippers.
Impact: neutral
