The Kawhi Leonard trade has become official, and the Toronto Raptors have solidified their latest acquisition by agreeing to a two-year, $115 million extension with him. This contract, which includes a player option for the 2028-29 season, was reported by ESPN's Shams Charania on Tuesday.
According to Blake Murphy from Sportsnet, the agreement falls approximately $11 million below the maximum contract value available to Leonard over the two years. Michael Grange of Sportsnet noted that the Raptors are expected to make a formal announcement regarding the contract on Wednesday.
Despite the significant financial commitment to Leonard, the Raptors find themselves nearly $1 million under the first apron and $13 million under the second apron as they navigate their salary cap situation.
Leonard's arrival in Toronto was part of a blockbuster trade deal with the Los Angeles Clippers, which occurred early in the off-season. In exchange for Leonard, the Raptors sent forward Brandon Ingram, guard Gradey Dick, unprotected first-round picks in 2031 and 2033, a 2027 first-round swap, along with two second-round picks back to the Clippers.
The trade deal for Leonard has been surrounded by controversy due to an investigation into alleged salary-cap circumvention involving the Clippers. Reports suggested that the team may have arranged endorsement deals for Leonard to compensate him above the salary cap limits. The NBA concluded its investigation on September 2, resulting in a $700,000 fine for Leonard.
Conversely, the Clippers faced severe penalties, including the forfeiture of five first-round picks from 2029 to 2033 and a substantial $30 million fine. In addition to these sanctions, Clippers owner Steve Ballmer and president of business operations Gillian Zucker were suspended for one year, while president of basketball operations Lawrence Frank received a six-month suspension.
As Leonard approaches his age-35 season, he is coming off one of his most productive and healthiest years in recent memory. Last season, he averaged 27.9 points, 6.4 rebounds, 3.6 assists, and 1.9 steals, boasting an impressive shooting percentage of 50.5 percent from the field and 38.7 percent from three-point range. Notably, he played 65 games, achieving this milestone for only the second time since the 2016-17 season.
Throughout his 15-year career, Leonard has struggled with injuries that limited his playing time significantly in several seasons. For instance, during the 2017-18 season, he only participated in nine games before being traded to the Raptors. He also missed the entire 2021-22 season due to a torn ACL.
While health issues restricted Leonard to just 60 games during his first tenure with the Raptors in the 2018-19 season, he made a tremendous impact on both ends of the court. His two-way play in that season saw him average 26.6 points, 7.3 rebounds, 3.3 assists, and 1.8 steals per game, ultimately leading the Raptors to their first and only NBA Championship.
