Kawhi Leonard has agreed a two-year, $115 million contract extension with the Toronto Raptors, tying the two-time Finals MVP to the franchise for three years and $165 million in total.
The second season of the extension, 2028-29, is a player option. Leonard, who turned 35 in June, accepted roughly $11 million less than the maximum extension he was eligible for and waived a $7.45 million trade kicker to give Toronto more room on a rising salary sheet.
The deal closes a long and complicated chapter. The Raptors agreed a trade for Leonard with the Los Angeles Clippers on June 30, sending Brandon Ingram, Gradey Dick, two unprotected first-round picks, a first-round swap and two second-round picks the other way, but the move was not completed until earlier this month while the NBA investigated whether the Clippers had circumvented salary cap rules on Leonard’s behalf.
That investigation ended with the league stripping the Clippers of five future first-round picks, fining the club $30 million and suspending owner Steve Ballmer for a year. Leonard paid $700,000 in restitution over improper benefits paid to his uncle.
Leonard averaged a career-high 27.9 points across 65 games last season. His agent, Harrison Gaines of Slash Sports, confirmed the extension to ESPN.
