# Kawhi's $115M deal: Raptors bet on aging star

> Toronto locks in Leonard on a discount extension while navigating tight salary cap constraints.
- Title: Kawhi's $115M deal: Raptors bet on aging star · CBS Sports
- Summary: Toronto locks in Leonard on a discount extension while navigating tight salary cap constraints. Aging NBA superstars are increasingly taking less than their…
- Keywords: kawhi leonard, toronto raptors, nba contract extension, salary cap, nba free agency, championship contention, player option, luxury tax, aging stars, contract negotiation, sports, Kawhi's
- Source: CBS Sports — https://cbssports.com/nba/news/kawhi-leonard-toronto-raptors-contract-extension
- Published: 2026-09-22T20:30:00+00:00
- Read time: 2 min
- Topics: kawhi leonard, toronto raptors, nba contract extension, salary cap, nba free agency, championship contention, player option, luxury tax, aging stars, contract negotiation, sports
## Kawhi signs two-year extension
Kawhi Leonard agreed to a $115 million, two-year extension with the Toronto Raptors after being traded from the Clippers. The deal comes after an NBA investigation into his sponsorship dealings that resulted in a $700,000 fine.
## Leonard takes less than max
At 35, Leonard's extension comes in below his maximum salary due to the 20% raise limit following his trade. Had he waited six months, he could have earned closer to $128 million.
## Player option provides escape route
In exchange for the discount, Leonard received a player option for the 2028-29 season, allowing him to become a free agent at age 37. He expects to finish his career with Toronto.
## Raptors aim for championship run
Toronto returned to the playoffs last season after three years away and pushed Cleveland to seven games despite injuries. Trading for Leonard signals ambitions to become a genuine championship contender.
## Salary cap gets tight fast
Leonard's extension will consume most of Toronto's $87 million in projected luxury tax room for 2027-28. The team must also re-sign RJ Barrett and Jamal Shead while managing other long-term deals.
## Problematic contracts loom
Immanuel Quickley is owed $97.5 million over three years and has become a poster boy for overpaid guards. Jakob Poeltl makes $28 million annually despite potentially being a backup.
## Aging stars taking discounts
Kevin Durant, James Harden, and LeBron James all recently signed for less than their maximum. Leonard joins this trend, signaling a market shift where veteran players prioritize roster flexibility.
## Stephen Curry's decision looms
Curry remains the only active player to spend his entire career with one team. The Warriors star can demand his maximum or wait to see what cap space the team can create.
## Leonard joins $500M club
Leonard becomes the eighth player in NBA history to earn over $500 million in career earnings, joining Durant, James, Curry, Harden, Paul George, Embiid, and Mitchell.
## Nine-figure annual salaries coming
A decade ago, Mike Conley's $153 million deal was historic. If Jokic signs a five-year max extension, he could earn roughly $357 million. Eventually, players will make nine figures annually.
## Key takeaway

Aging NBA superstars are increasingly taking less than their maximum salary, signaling a market shift where teams and players prioritize roster flexibility over individual earnings.