The Raptors have agreed to a two-year, $115 million contract extension with star forward Kawhi Leonard, agent Harrison Gaines told Shams Charania of ESPN.
The extension will begin with the 2027-28 season after Leonard earns $50.3 million this year. It includes a player option for 2028-29.
Leonard and Toronto maintained consistent communication throughout the offseason, according to Charania, and the 35-year-old expects to finish his career with the franchise.
The agreement completes Leonard’s return to the organization he led to its only NBA championship in 2019.
Toronto acquired him from the Clippers in a trade that was initially agreed upon June 30 but delayed while the NBA investigated whether Los Angeles circumvented the salary cap through no-show endorsement arrangements.
Leonard was not suspended and his contract was not voided, allowing the trade to move forward.
He remains one of the league’s most productive forwards when available. Leonard averaged 27.9 points, 6.4 rebounds, 3.6 assists and 1.9 steals in 65 games last season while shooting 50.5 percent from the field and 38.7 percent from beyond the arc.
He finished seventh in MVP voting and earned second-team All-NBA honors.
The NBA’s Over-38 rule prevented Leonard from signing an extension longer than two years. His new deal is also roughly $9 million below the maximum extension available to him.
Leonard previously waived a trade kicker worth approximately $7.5 million to help facilitate his move from Los Angeles.
The extension pushes Toronto’s projected salary commitments for 2027-28 to approximately $178 million for seven players, even before accounting for potential new contracts for RJ Barrett and Jamal Shead.
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