Kawhi Leonard receives $124 million contract update after trade to Raptors
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The Toronto Raptors have pulled off a blockbuster trade for a familiar face.
Toronto is trading Brandon Ingram, Gradey Dick, two first-round picks, a pick swap, and two second-round picks to the Los Angeles Clippers for All-Star forward Kawhi Leonard. The news comes from ESPN's Shams Charania.
Leonard will return to the Raptors after leaving the franchise nearly seven years ago in free agency on the heels of a title. The 35-year-old will join forces with young star forward Scottie Barnes and look to repeat the same success he had in Toronto during his first stint.
Not only is Leonard being moved to the Raptors, but he plans on retiring with the franchise, meaning an extension needs to be worked out.
Kawhi Leonard receives contract update after trade to Raptors
Shortly after Charania announced the details of the trade that will send Leonard back to Toronto, NBA on Prime insider Chris Haynes reported that Toronto and the two-time Finals MVP will begin negotiating a two-year extension.
"Kawhi Leonard and Toronto Raptors will soon engage to structure out the terms on a two-year extension to lock up the future Hall of Famer through the 2028-29 season, sources say," Haynes reported.
ESPN's Bobby Marks later added that Leonard can earn $124 million in new money over two seasons with the Raptors, though Marks' colleague, Charania, said the reason Los Angeles traded Leonard is that they wouldn't offer him a $126 million deal over two years.
Nevertheless, all signs point to Leonard earning over $60 million annually in a new deal with Toronto. The two-time Defensive Player of the Year still has a year left on his current deal with a cap hit of $50.3 million, so this extension would keep him under contract with the Raptors through the 2028-2029 season.
Leonard's injury concerns make this trade and likely contract extension worth over $60 million per year a massive risk for the Raptors. However, when healthy, Leaonrd is still one of the best players in the sport, and is elite on both ends of the floor.
We'll see when Leonard and Toronto strike a deal on an extension. The trade with Los Angeles can't be finalized until July 6, so we'll likely have to wait a week or two before any contract agreements are done.