UPDATE: Aspiration co-founder Joseph Sanberg has officially pled guilty to two counts of wire fraud in federal court in Los Angeles, marking a significant moment in a scandal linked to the LA Clippers. Each charge could lead to a maximum sentence of 20 years in prison, with sentencing scheduled for February 23, 2026, at 11 a.m. PST.
The plea comes amid ongoing investigations surrounding Sanberg’s former company, Aspiration, which has been implicated in a potential NBA salary cap violation involving Clippers star Kawhi Leonard. Sanberg’s guilty plea relates to a scheme that defrauded investors out of a staggering $248 million. His attorney, Marc Mukasey, stated, “Mr. Sanberg was working to bring about a prosperous and successful company…We agree that he stepped over the line.”
This guilty plea follows a tumultuous period for Aspiration, which recently declared bankruptcy. In September 2021, the company announced a $300 million sponsorship deal with the Clippers, including advertising at the team’s new arena in Inglewood, California. Aspiration also secured a $28 million deal with Leonard just months later.
The NBA is currently investigating whether the Clippers, under owner Steve Ballmer, violated league rules by circumventing the salary cap to compensate Leonard through sponsorship arrangements. Reports indicate that Ballmer invested $50 million into Aspiration during the same month the sponsorship deal was announced, raising further questions about the legitimacy of these transactions.
Outside the courthouse, Sanberg declined to comment on the ongoing investigation but referred all inquiries to his attorney. Mukasey stated, “We’re just happy that we got through today’s proceeding and that Joe accepted responsibility for what he’s charged with.” However, he did not clarify whether Sanberg would cooperate with the NBA’s inquiry, which is being conducted by the law firm Wachtell Lipton, Rosen & Katz.
As this story develops, all eyes will be on the upcoming sentencing and the NBA’s findings, which could have significant implications not only for Sanberg but also for the future of the Clippers and their financial dealings. Stay tuned for more updates on this unfolding situation.
