Kawhi Leonard and the Toronto Raptors are nearing an agreement on a contract extension that could be worth up to $126 million over two years, according to Jake Fischer.
The potential agreement would further cement Toronto’s decision to build around Leonard and Scottie Barnes after the Raptors brought the two-time NBA champion back from the Los Angeles Clippers earlier this offseason.
Toronto acquired Leonard in a blockbuster trade completed September 14, sending Brandon Ingram, Gradey Dick, two unprotected first-round picks and a 2027 first-round pick swap to the Clippers. The Raptors also included second-round picks in 2030 and 2033.
Leonard waived his $7.45 million trade kicker to help Toronto complete the transaction under the NBA’s salary restrictions.
The 35-year-old forward returns to the franchise where he won his second championship and the 2019 Finals MVP award. During his lone season in Toronto in 2018-19, Leonard averaged 26.6 points, 7.3 rebounds and 3.3 assists while shooting 49.6% from the field and 37.1% from three-point range.
Leonard remains productive at 35. He averaged 27.9 points, 6.4 rebounds and 3.6 assists in 65 games for the Clippers in 2025-26, earning All-NBA Second Team honors and finishing seventh in MVP voting.
He shot 50.5% from the field, 38.7% from three-point range and 89.2% from the free-throw line while posting a career-best 1.9 steals per game.
The Raptors are coming off a 2025-26 season in which they finished fifth in the Eastern Conference before losing in the first round. Barnes averaged 18.1 points, 7.5 rebounds and 5.9 assists while earning All-Star and All-Defensive Second Team honors, while Immanuel Quickley posted 16.4 points and 5.9 assists per game.
RJ Barrett averaged 19.3 points and 5.3 rebounds, giving Toronto three established offensive options alongside Leonard.
The expected starting lineup also includes Jakob Poeltl, who averaged 10.7 points and 7.0 rebounds in 46 games last season.
Toronto’s offseason strategy has represented a significant shift toward competing immediately. The Raptors sacrificed substantial future draft capital in the Leonard trade while retaining their young core around Barnes.
A long-term agreement with Leonard would give Toronto additional clarity after committing significant assets to bring him back. It would also keep one of the league’s most accomplished two-way players alongside Barnes as the Raptors attempt to move beyond their first-round exit.
Leonard has averaged 20.7 points, 6.4 rebounds, 3.1 assists and 1.7 steals over his 14-year NBA career, with two championships, two Finals MVP awards, two Defensive Player of the Year awards and six All-NBA selections.
