One season last time. Not this time.
Toronto learned the hard way in 2019. You get Kawhi Leonard, you win a title, and then he walks. The Raptors were not going to let that happen twice.
A few hours ago, Leonard agreed to a two-year, $115 million extension with Toronto, first reported by ESPN’s Shams Charania. The deal also carries a player option for the 2028-29 season, and once it is stacked on top of the money already owed to him, Leonard is now tied to the Raptors for three years and $165 million.
He could have squeezed out more. Leonard was eligible for a two-year max worth around $126 million and left roughly $11 million on the table, a gesture aimed at giving the front office room on a payroll that keeps climbing. According to ESPN, the two sides had been talking about his long-term future since July, and the 35-year-old expects to finish his career in Toronto.
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The strangest road back
Getting here took months. The Raptors agreed to acquire him from the Clippers on June 30, sending Brandon Ingram, Gradey Dick, two unprotected first-round picks, a first-round swap and two second-rounders to Los Angeles.
Then everything froze. The NBA opened an investigation into whether Leonard had received impermissible benefits when he first signed with the Clippers in 2019. The league came down hard on the franchise: five first-round picks stripped, a $30 million fine for owner Steve Ballmer and a one-year suspension. Leonard escaped a ban but was fined $700,000. With his eligibility for 2026-27 confirmed, Toronto went ahead and the trade was finally completed this month.
What Toronto are buying
Age is the obvious risk. The production is the argument for it. Leonard averaged a career-high 27.9 points per game last season and drew MVP votes for the first time in four years, even as the Clippers stumbled to 42-40 and were knocked out of the play-in by Golden State.
Over six seasons in Los Angeles he put up 25.1 points, 6.4 rebounds and 4.1 assists a night and made four All-Star teams. The one thing that never came was a ring, and he missed the whole 2021-22 campaign after an ACL tear.
Toronto still remember what a healthy Leonard looks like in June. They are betting a lot of money that he has one more of those springs left.
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