The Securities and Exchange Commission has opened an investigation into scoreboard manufacturer Daktronics on Wednesday in relation to an alleged sponsorship deal the company had with Los Angeles Clippers star Kawhi Leonard.
Daktronics acting CFO Howard Atkins revealed the investigation on an earnings call on Wednesday, and said that they have received requests for information from the NBA. Specifics of the SEC's investigation are not yet known. It marks the first public acknowledgement that the NBA is including Daktronics in its investigation into Leonard and the Clippers.
"As you might expect, we have received requests for information from the NBA. Additionally, the Securities and Exchange Commission is seeking information from us concerning the company and Mr. Leonard," Atkins said. "We take these requests seriously and are cooperating. At this point, out of respect for the respective processes, we will not be providing further comment."
Leonard and the Los Angeles Clippers have been under scrutiny and an NBA investigation for nearly a year after an alleged no-show sponsorship deal with the now-defunct sustainability company Aspiration. That deal reportedly paid Leonard million for no visible work in an alleged bid to circumvent the NBA's salary cap.
A report last month from "Pablo Torre Finds Out" claimed that Daktronics also hired Leonard to a multimillion dollar sponsorship deal that didn't result in any work from Leonard. Daktronics built the $100 million video board at the Clippers' Intuit Dome.
#alleged #sponsorship
Daktronics acting CFO Howard Atkins revealed the investigation on an earnings call on Wednesday, and said that they have received requests for information from the NBA. Specifics of the SEC's investigation are not yet known. It marks the first public acknowledgement that the NBA is including Daktronics in its investigation into Leonard and the Clippers.
"As you might expect, we have received requests for information from the NBA. Additionally, the Securities and Exchange Commission is seeking information from us concerning the company and Mr. Leonard," Atkins said. "We take these requests seriously and are cooperating. At this point, out of respect for the respective processes, we will not be providing further comment."
Leonard and the Los Angeles Clippers have been under scrutiny and an NBA investigation for nearly a year after an alleged no-show sponsorship deal with the now-defunct sustainability company Aspiration. That deal reportedly paid Leonard million for no visible work in an alleged bid to circumvent the NBA's salary cap.
A report last month from "Pablo Torre Finds Out" claimed that Daktronics also hired Leonard to a multimillion dollar sponsorship deal that didn't result in any work from Leonard. Daktronics built the $100 million video board at the Clippers' Intuit Dome.
#alleged #sponsorship
6 hours ago
