The cast of characters

The report names Ballmer as one of the three people most responsible. It finds he knowingly tried to help Leonard get off-court income and personally approved the Clippers signing the 'Forum Agreement' in April 2022, which it calls a major act of facilitation. It also finds he failed to supervise senior staff and allowed a culture that ignored the rules.

The report calls Zucker directly and primarily at fault. It finds she was the point person on all four deals, that she started, helped and pushed Leonard's endorsement deals, and that she gave misleading and false statements to investigators about her role.

The report names Frank among the three most responsible. It finds he was Robertson's main contact, passed Robertson's improper demands to Ballmer and Zucker, and was ultimately responsible for approving the Clippers' improper expense payments for Leonard. Investigators note Frank was relatively candid and consistent in his interviews.

Quoted in internal texts expressing misgivings about the Forum deal ('I never wanted this Forum deal. Always knew it was super shady.'). Sanberg told him he would break the Leonard deal and explain why.

The initial Forum term sheet noted a 'Business Back' amount '[t]o be filled in by Eric Chan ($7M back in business).' Chan's internal messages in March 2022 acknowledged the linkage between the Forum Agreement and Leonard's Aspiration deal.

Referenced in Sanberg's March 30, 2022 texts as one of the Clippers executives ('Alex … and Eric') who 'have no solution' as the Forum/Leonard deals came to a head.

Chief Investment Officer of Ballmer's personal business office. He received Chan's March 30 to 31, 2022 messages describing Sanberg's threat to sue and to tell Leonard his deal was off.

The report finds that Leonard, acting through his uncle and business manager Dennis Robertson, broke the NBA's circumvention rules. He pressured the Clippers to help him get off-court income, got it, and never repaid the team for personal expenses it covered for him.

The report finds Robertson repeatedly pressured the Clippers to help Leonard get off-court income, with a target of roughly $10 million per year. The team failed to report these improper requests to the NBA as required.

Leonard's certified player agent, involved in the Leonard and Aspiration contract talks. In February 2022 he texted Frank, complaining Aspiration was ignoring him and asking for help.

Aspiration's co-founder and board member. The report describes him as now a convicted felon for fraud while leading the company. He pushed Aspiration to sign Leonard, told colleagues 'the Clippers are asking us to do this,' and later threatened to blow up the deals unless the Forum Agreement was signed. Investigators say they used his information cautiously and mainly where it was backed up.

Announced the league's penalties on September 2, 2026, saying he was 'deeply disappointed by the flagrant violations of our rules.' (From the NBA announcement, not the Wachtell summary.)

His podcast 'Pablo Torre Finds Out' produced the September 3, 2025 episode that first alleged the scheme and prompted the NBA to hire Wachtell Lipton. (Context/origin.)

In 2015 the Clippers were fined $250,000 after the NBA found the team tried to arrange an endorsement deal between Jordan (whom they were trying to sign) and an incoming sponsor. The report cites this as evidence the Clippers knew the rules especially well. (Context.)

Described generally in the report, not named. Zucker brought in this business agent, who was under a retention agreement with the Clippers, to help Sanberg structure the Leonard and Aspiration endorsement. The agent's emails document the deal terms and the Clippers' 'input.'

The NBA team the report finds broke the circumvention rules in many ways.

A now-bankrupt sustainability-services company. It signed a $48M endorsement deal with Leonard and separately huge sponsorship, sustainability-services and investment deals with the Clippers and Ballmer. Cooperated with investigators through its bankruptcy trustee.

A wireless and communications company. One of three connected to Leonard in June 2020, it signed a multi-million-dollar endorsement deal. The report says Boingo first appeared to cooperate, then gave information investigators found not credible and finally refused to cooperate.

A maker of scoreboards and video displays competing for the Intuit Dome contract. The report finds its endorsement deal with Leonard ($3M/year for two years, later raised by $2M) was arranged by the Clippers in exchange for the arena business. Daktronics cooperated substantially.

An insurance brokerage and one of the three companies connected to Leonard in June 2020. The report says Lockton refused to cooperate with the investigation.

A company whose members are Kawhi Leonard and Dennis Robertson. It was formed on June 9, 2020, the same day as the second of Zucker's three 'introductions,' and became the counterparty to Leonard's Boingo, Daktronics and Lockton endorsement deals.

The Clippers' arena, the business at the center of several company deals.

An Inglewood arena Ballmer bought in May 2020, overseen by Zucker. The Aspiration 'Forum Agreement' was billed as a sustainability deal to 'zero out' the Forum's carbon emissions. The report finds it was really a way to route 'business back' tied to Leonard's Aspiration endorsement.

The league whose circumvention rules are at issue. It commissioned the investigation.

Players' union, a party to the CBA that represented Leonard in the investigation.

Leonard's prior team, where he won the 2019 championship before free agency.

Independent law firm the NBA retained to conduct the investigation.