Kawhi Leonard has agreed a two-year contract extension worth $115m with the Toronto Raptors, with the deal including a player option for the 2028/29 season.
Leonard’s agent, Harrison Gaines, informed ESPN of the agreement on 22 September. Hoops Rumors later reported that the extension had been made official through the NBA transaction log. The agreement follows Leonard’s delayed move back to Toronto from the Los Angeles Clippers, after the NBA completed its investigation into salary-cap circumvention violations involving the Clippers.
The 35-year-old is back with the side he led to its only NBA championship in 2019. ESPN reported that Leonard and Toronto had kept in regular contact over his long-term future from July, and that Leonard expected to finish his career with the Raptors.
New extension begins in 2027/28
According to Hoops Rumors, Leonard’s extension will take effect in 2027/28, after he earns $50.3m in 2026/27 under the final year of the contract he signed with the Clippers in 2024. ESPN reported that the arrangement leaves Leonard with three years and $165m in total on his Toronto deal.
The deal includes a player option for 2028/29. Hoops Rumors reported that the NBA’s Over-38 rule limited Leonard to an extension of no more than two years, while extend-and-trade restrictions also limited the annual increases available in a new agreement.
ESPN reported that Leonard accepted $11m below his maximum available extension figure and waived a trade kicker worth $7.45m. Hoops Rumors estimated that the maximum available extension would have been worth about $124m over two years, placing Leonard’s eventual agreement about $9m below that number, and put the waived kicker at roughly $7.5m.
The differing estimates do not change the central point that Leonard accepted less than the reported maximum in an agreement ESPN said was discussed with Toronto’s future salary commitments in mind. That concession is relevant to a Raptors roster already carrying significant projected costs for 2027/28.
| Contract detail | Reported figure |
|---|---|
| Extension value | $115m over two years |
| Extension start | 2027/28 |
| 2026/27 salary | $50.3m |
| Option year | 2028/29 player option |
| Projected 2027/28 commitments | About $178m for seven players |
Hoops Rumors estimated that Leonard’s extension would take Toronto’s projected 2027/28 commitments to about $178m for seven players. Its calculation did not include possible future arrangements for RJ Barrett and Jamal Shead, described as projected rotation players on expiring contracts. The outlet also reported that the salary cap for that season was projected at $176m, underlining why the discount and waived kicker matter in Toronto’s financial planning.
Trade was paused during Clippers investigation
The Raptors and Clippers agreed Leonard’s trade on 30 June. ESPN reported that Toronto agreed to send Brandon Ingram, Gradey Dick, two unprotected first-round picks, one first-round pick swap and two second-round picks to Los Angeles.
The transaction was then put on hold in early July. ESPN reported that the NBA told Toronto it could be liable for any discipline connected to Leonard as part of the league’s investigation into allegations that the Clippers had circumvented salary-cap rules. Hoops Rumors reported that the teams awaited the outcome of an inquiry into allegations that Leonard had been paid through no-show endorsement deals.
Earlier in September, the NBA imposed sanctions on the Clippers. ESPN reported that the penalties included the loss of five future first-round picks, a $30m fine and a one-year suspension for owner Steve Ballmer. The outlet said the league’s nearly year-long investigation identified a pattern of misconduct and multiple significant rule violations by the organisation.
Hoops Rumors reported that Leonard was not suspended and that his contract was not voided. That allowed Toronto to complete the trade following the league’s decision. ESPN also reported that Leonard paid $700,000 in restitution relating to improper benefits provided by the Clippers for his uncle and former business representative, Dennis Robertson.
Toronto adds recent production to a known connection
Leonard returns after one of the strongest scoring seasons of his NBA career. ESPN reported that he averaged 27.9 points in 65 games for the Clippers last season. Hoops Rumors added that he averaged 6.4 rebounds, 3.6 assists and 1.9 steals in 32.1 minutes per game, and was named to the All-NBA second team after finishing seventh in MVP voting.
For Toronto, the extension brings greater certainty after a return shaped by the investigation and delayed transaction. It also links the Raptors again with the player who delivered their 2019 title, while leaving the club to manage a projected 2027/28 payroll already estimated at about $178m before accounting for the expiring contracts of projected rotation players RJ Barrett and Jamal Shead.