NBA strips Clippers of five first-round picks, fines $30M for Kawhi Leonard cap circumvention

The NBA penalized the Los Angeles Clippers for violating salary cap rules in signing Kawhi Leonard, stripping five first-round picks and fining $30M. Owner Steve Ballmer received a one-year ban. This is a major league-level enforcement action, though its market impact is limited to the team's competitive outlook.