Kawhi Leonard has agreed to a two‑year, $115 million contract extension with the Toronto Raptors, a deal that includes a player option for 2028‑29. Leonard says he expects to finish his career in Toronto as the team looks to build on its recent playoff run.
Kawhi Leonard has finalized a two‑year, $115 million extension with the Toronto Raptors, according to ESPN’s Shams Charania and CBS Sports on Sep. 22, 2026. The deal, which comes shortly after the NBA concluded its investigation into Leonard’s sponsorship dealings, locks the 35‑year‑old forward in Toronto through the 2027‑28 season and adds a player option for 2028‑29, allowing him to become a free agent in the summer of 2028 at age 37.
The contract is slightly below Leonard’s maximum salary because the league limits a player who has been traded to a 20 % raise in the first year of a new deal. Had he waited six months, he could have earned closer to $128 million. In exchange for the modest discount, the player option gives Leonard flexibility while the Raptors secure his services for the next three seasons.
Leonardo’s extension follows a trade that sent Brandon Ingram and Gradey Dick to the Los Angeles Clippers in June. The Raptors, who returned to the playoffs last season after a three‑year drought and pushed the Cleveland Cavaliers to seven games, are betting that Leonard’s presence will elevate the team from a plucky playoff contender to a genuine championship threat. Prior to the extension, Toronto projected about $87 million in luxury‑tax room for the 2027‑28 season, a margin that Leonard’s salary will largely consume.
Leonard has publicly indicated he expects to retire as a Raptor, a sentiment echoed by Shams Charania’s report that the veteran “expects to retire in Toronto.” With a deep, young roster surrounding him, the franchise hopes the deal not only retains a two‑time NBA champion but also provides the stability needed to chase another title.