Report: Raptors reach two-year, $115M extension with Kawhi Leonard

Toronto has agreed to a two-year deal with Kawhi Leonard that could pay him $115 million, with a player option on the second season, a source told the AP.

Kawhi Leonard and the Toronto Raptors have agreed to a two-year contract extension worth up to $115 million, according to a person familiar with the negotiations who spoke to The Associated Press on Tuesday. The deal's second season, 2028-29, would be at Leonard's option.

The Raptors have not announced the agreement. ESPN first reported the terms, and The Toronto Star and other outlets later confirmed them.

Leonard, 35, is entering the final season of his current contract at just over $50 million. He is coming off a career-best scoring year, averaging 27.9 points over 65 games with the Los Angeles Clippers.

A seven-time All-Star and two-time NBA Finals MVP, Leonard led Toronto to the 2019 NBA championship. The Raptors landed him in a trade with the Clippers that was agreed to in late June but finalized only this month after an NBA investigation into salary cap circumvention, which resulted in penalties including a one-year suspension for owner Steve Ballmer, five forfeited first-round picks and a $30 million fine. Leonard was fined $700,000 but faces no suspension.