Toronto Raptors star Kawhi Leonard has agreed on a two-year, $115 million contract extension with the franchise plus a player option for the 2028-29 season.
His agent, Harrison Gaines of Slash Sports, told ESPN.
Both sides have maintained consistent dialogue on Leonard’s long-term Raptors future since July, with the two-time Finals MVP expecting to finish his career in Toronto. Leonard, 35, now has a total of three years and $165 million on his Raptors deal.
Leonard, who is in the final year of the deal he signed with the LA Clippers in 2024, took $11 million less than his maximum extension number with Toronto — on top of waiving a $7.45 million trade kicker – as the sides discussed flexibility for the Raptors’ rising salary books.
The Minnesota Timberwolves and Detroit Pistons also had interest in trading for Leonard and extending him in June, sources said, but Leonard had leverage with just one year left on his former deal and preferred landing in Toronto.
The Raptors and Clippers came to an agreement on a trade on June 30, sending Leonard back to Toronto for Brandon Ingram, Gradey Dick two unprotected first-round picks, one first-round pick swap and two second-rounders. The deal was placed on pause when the NBA informed the Raptors in early July that the franchise would be liable for any discipline for Leonard amid the league’s investigation into salary cap circumvention allegations against the Clippers, clearing the way for both Toronto and LA to wait on the outcome of the probe.
Earlier this month, the NBA announced a list of severe punishments for the Clippers, including the loss of five future first-round picks, a fine of $30 million and a yearlong suspension for team owner Steve Ballmer for violating salary cap circumvention rules in a case involving Leonard, who paid $700,000 in restitution for improper benefits provided by the franchise for his uncle and former business representative, Dennis Robertson.
Leonard fired Robertson and agent Mitch Frankel in June and hired Gaines weeks later. Robertson has been banned by the NBA from all business dealings.
The NBA’s punishments came down after a nearly yearlong investigation into the franchise that “found a pattern of misconduct and multiple significant rules violations by the Clippers organization, a prior offender of the salary cap circumvention rules.”
Nearly two weeks after the league’s announcement of the punishments, the Clippers and Raptors formally completed the Leonard trade.
Leonard led the Raptors to their only NBA championship in franchise history in 2019, before leaving Toronto the following offseason to sign with the Clippers.
He is coming off the highest-scoring season of his career, averaging 27.9 points for the Clippers in 65 games. He is a seven-time All-Star, a seven-time All-NBA selection and a two-time NBA champion (winning the titles and his Finals MVP awards in 2014 with the San Antonio Spurs and 2019 with Toronto) and is generally considered one of the game’s top defensive players.
