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The Los Angeles Clippers received a bid from Aspiration for naming rights to their new arena worth nearly double that Intuit eventually paid, which was $550 million over 23 years. The Clippers decided to move forward with the offer from Intuit as they were the most established company.
Aspiration instead executed a jersey patch sponsorship with the Clippers and other promotional activations.
Aspiration has come into attention this year as they have gone bankrupt with one of its co-founders pleading guilty to framing investors. Aspiration also had a $28 million endorsement deal with Kawhi Leonard that the NBA is currently investigating amid allegations of potential salary cap circumvention on the part of the Clippers.
Both the Clippers and Steve Ballmer have denied any violations of the NBA’s collective bargaining agreement.
