Toronto officially has its Finals MVP back. Kawhi Leonard committed his long-term future to the Toronto Raptors, agreeing to a two-year, $115 million contract extension. His contract includes a player option for the 2028–29 season. Many also noted that the extension, as reported by Shams Charania, was negotiated by his new agent, Harrison Gaines of Slash Sports, after he fired his uncle, Dennis Robertson, earlier this year.
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Gaines closed the deal by adding to Kawhi’s existing $50.3 million salary for the upcoming 2026–27 campaign, bringing his total remaining commitment in Toronto to three years and $165 million.
On NBA Today, ESPN’s Shams Charania revealed the structural terms of the agreement and highlighted that the 35-year-old superstar surrendered significant earnings to facilitate his blockbuster reunion with the franchise.
“Kawhi Leonard has reached an agreement on a two-year $115 million contract extension with the Toronto Raptors. This reunion will now extend long-term. This gives him three years and $165 million total on his Raptors deal. He also does have a player option in 2028, but my understanding is that he fully expects to retire and finish his career in Toronto, and this deal allows him to do that,” Charania said.
Charania detailed how Leonard’s new agent negotiatied notable financial concessions to ensure his trade and long-term future in Toronto remained viable.
“He’s able to play onward. In between all that, Kawhi Leonard also fired his uncle and business representative, Dennis Robertson, in June. Hired a new agent in Harrison Gaines, who now completes this deal,” Charania explained. “And Kawhi Leonard, I’m told, has made it clear to the Raptors that he wants this to be his last stop. That’s very important. That’s why they move forward with this deal. And some bookkeeping on this. This is $11 million less than his max. And he also waived a $7.45 million trade kicker to allow the trade to go through. So there was some give-back for Kawhi Leonard. Now boardman does get paid again.”
Regardless of the player option, Kawhi intends to remain in Toronto till he’s ready to call it a career. In total, Leonard’s decision to accept $11 million below his eligible maximum extension and forgo his $7.45 million trade kicker represents an $18.45 million financial sacrifice to provide Toronto’s front office with vital roster-building flexibility.
Kawhi Leonard prioritizes long-term future with Toronto
The completion of Kawhi Leonard’s extension follows months of league-wide uncertainty surrounding his departure from California. The trade between the Los Angeles Clippers and Toronto was initially agreed upon on June 30.
Still, it was held up for over two months while the NBA conducted an extensive investigation into salary-cap circumvention.
The league ultimately concluded its probe on September 2, handing down historic sanctions against the Clippers for arranging $28 million in no-show deals for Leonard with the defunct green company Aspiration and three other businesses. The Clippers were stripped of five future first-round draft picks, fined $30 million, and saw their owner, Steve Ballmer, handed a one-year suspension.
Leonard received a $700,000 fine from the league, but his contract was not voided. That allowed the Raptors to finalize the trade on September 14 by sending Brandon Ingram, Gradey Dick, two unprotected first-round picks, a pick swap, and two second-round picks to Los Angeles.
The deal was limited to two years due to the NBA’s over-38 rule. By accepting less than the maximum $126.6 million extension available, Leonard’s $18.45 million total sacrifice keeps Toronto under critical luxury tax thresholds.
Sports analysts, including Bobby Marks and Brian Windhorst on NBA Today, were full of cap circumvention and ‘hope that wrist isn’t injured after Adam Silver’s slap’ jokes. As unavoidable as the memes about this discount are, it is critical nonetheless.
The Raptors currently sit less than $1 million below the first apron and $13.6 million clear of the dreaded second apron. Kawhi just showed he’s here for the long term by giving them the flexibility to build a championship core around young forward Scottie Barnes.
Coming off a stellar 2025–26 campaign where he averaged 27.9 points, 6.4 rebounds, 3.6 assists, and 1.9 steals per game across 65 contests, Leonard joins Toronto for the opening of training camp, looking to anchor a second title run in the North.