Kawhi Leonard agrees to two-year, $115M Raptors extension

Kawhi Leonard's Toronto return now has a longer runway.

Shams Charania reported that Leonard has agreed to a two-year, $115 million extension with the Raptors. The deal includes a player option for the 2028-29 season and was confirmed through Leonard's agent, Harrison Gaines of SLASH Sports.

The structure matters almost as much as the number. Leonard is 35, and the new agreement gives him three years and $165 million in total money with Toronto after his reunion trade from the Clippers. Charania also reported that both sides kept steady dialogue on Leonard's long-term future since July, with the two-time Finals MVP expecting to finish his career as a Raptor.

Leonard did not take the full maximum available. According to the follow-up report, he left about $11 million below his maximum extension number and had already waived a $7.45 million trade kicker to help Toronto complete the Clippers deal.

That gives the Raptors a little more room around a rising salary sheet while keeping the player who delivered the franchise's 2019 title. The reunion is no longer just a one-season swing.