Toronto Raptors star, Kawhi Leonard, has agreed to a two-year, $115 million contract extension with the franchise, according to his agent, Harrison Gaines of Slash Sports.
The deal includes a player option for the 2028-29 season and takes Leonard’s total contract with the Raptors to three years and $165 million.
Leonard, 35, is expected to finish his career in Toronto after returning to the Raptors in a trade with the Los Angeles Clippers earlier this year.
Leonard accepts lower salary
Leonard agreed to take $11 million less than his maximum extension figure and also waived a $7.45 million trade kicker as part of the deal.
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The move gives Toronto additional flexibility as the franchise manages its rising salary commitments.
The Raptors and Leonard had maintained discussions over his long-term future since July, with the seven-time All-Star indicating a preference to remain in Toronto.
Raptors beat competition for Leonard
The Minnesota Timberwolves and Detroit Pistons were also interested in acquiring Leonard and extending his contract in June, according to reports.
However, Leonard had leverage with one year remaining on his previous deal and preferred a return to Toronto.
The Raptors and Clippers agreed to the trade on June 30, with Toronto sending Brandon Ingram, Gradey Dick, two unprotected first-round picks, one first-round pick swap and two second-round picks to Los Angeles.
The trade was temporarily delayed after the NBA informed Toronto that the franchise could face disciplinary consequences in its investigation into alleged salary-cap circumvention by the Clippers.
Clippers punished over Leonard case
The NBA later imposed significant sanctions on the Clippers, including the loss of five future first-round picks, a $30 million fine and a one-year suspension for team owner Steve Ballmer.
The league said its investigation found a pattern of misconduct and multiple significant rules violations involving the Clippers.
Leonard paid $700,000 in restitution for improper benefits provided by the franchise to his uncle and former business representative, Dennis Robertson.
Leonard dismissed Robertson and agent Mitch Frankel in June before hiring Gaines weeks later. Robertson has since been banned by the NBA from all business dealings.
The trade between the Raptors and Clippers was formally completed nearly two weeks after the NBA announced its sanctions.
Leonard returns to Toronto
Leonard previously led Toronto to the only NBA championship in franchise history in 2019 before leaving the team that summer to join the Clippers.
He returned to Toronto this year after spending seven seasons in Los Angeles.
Leonard is coming off the highest-scoring season of his career, averaging 27.9 points in 65 games for the Clippers.
He is a seven-time All-Star, seven-time All-NBA selection and two-time NBA champion, having won titles with the San Antonio Spurs in 2014 and Toronto in 2019.
