Anshari Taslim
Reports circulating from veteran NBA insiders Marc Stein and Jake Fischer indicate that two-time NBA Finals MVP Kawhi Leonard is at the center of significant trade discussions, with the Toronto Raptors and Dallas Mavericks actively pursuing the Los Angeles Clippers forward. Leonard, who is set to become an unrestricted free agent in 2027, has reportedly expressed interest only in extending his contract with former teams, specifically the Toronto Raptors and San Antonio Spurs, significantly narrowing his potential market. This development has catalyzed "real" trade conversations between the Clippers and Raptors, while the Mavericks have also "registered interest" in securing the services of the five-time All-NBA selection.
Leonard’s career trajectory has been defined by his pursuit of specific destinations. In 2018, while still with the San Antonio Spurs, he reportedly sought a trade back to his native Southern California. Instead, he was dealt north of the border to the Toronto Raptors, a move he initially viewed as a temporary detour. Despite his reluctance, Leonard spearheaded the Raptors to an improbable NBA championship in 2019, delivering one of the most successful "rental" seasons in league history. Following this triumph, he departed in free agency to join the Los Angeles Clippers, aligning with his long-held desire to play closer to home. Now, with Leonard approaching his 35th birthday and entering the final year of his current contract, the specter of a potential departure in 2027 looms large, compelling teams to consider a trade rather than risk losing him for no assets.
For the Los Angeles Clippers, the decision to potentially move Leonard, a cornerstone of their franchise since 2019, represents a significant strategic shift. While Clippers owner Steve Ballmer is reportedly hesitant to part with the star forward, the team has already embarked on a discernible youth movement. Recent transactions saw the Clippers trade veteran guard James Harden to the Cleveland Cavaliers for Darius Garland and subsequently move center Ivica Zubac to the Indiana Pacers for Bennedict Mathurin and a collection of future draft picks. These moves signal a pivot towards rebuilding and asset accumulation. The Clippers’ draft capital has been severely depleted due to previous blockbuster trades, notably the 2019 deal for Paul George that brought Leonard to Los Angeles and the subsequent acquisition of James Harden. The team currently owes control over its first-round draft picks through 2029, making the replenishment of their future draft capital an urgent priority. Furthermore, the NBA’s ongoing investigation into a sponsorship agreement between Leonard and Aspiration for possible cap circumvention adds another layer of complexity; a guilty verdict could result in further loss of draft assets, intensifying the need to acquire new picks.
The Toronto Raptors, a team Leonard led to their sole NBA championship, appear to be the most advanced in discussions. According to Jake Fischer, "real" trade conversations have indeed taken place, with Toronto reportedly favoring a package centered around Brandon Ingram over RJ Barrett for salary matching purposes. The Raptors possess all of their own first-round picks moving forward, providing them with a robust arsenal of trade assets. While a potential offer could theoretically include as many as four first-round picks and three first-round swaps, the final price is expected to be lower given Leonard’s age and extensive injury history. Toronto is also reportedly keen on retaining Collin Murray-Boyles, a breakout rookie from the past season, viewing him as an essential piece for their future core.
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However, the financial intricacies of such a deal present significant hurdles for Toronto. The Raptors operate with very limited room beneath the NBA’s first salary cap apron. A trade in which they take on more salary than they send out, such as one primarily involving Barrett’s expiring contract, would hard-cap them at the first apron, severely limiting their ability to build depth around Leonard. The Raptors’ strategic objective, therefore, would be to send out more money than the approximately $50.3 million Leonard is owed for the upcoming season. This maneuver would allow them to trigger the less restrictive second-apron hard cap, affording them greater flexibility in constructing their roster. To achieve this, the Clippers would likely need to absorb a less-than-desirable long-term contract from Toronto, with players such as Ingram, Immanuel Quickley, or Jakob Poeltl being potential candidates. The Raptors’ preference for Ingram is pragmatic; he is a reigning All-Star scorer at small forward who could ostensibly replace Leonard’s offensive production for the Clippers and provide a solid asset in their rebuilding phase. However, the Clippers would likely demand additional draft capital to take on Ingram’s approximately $82 million owed over the next two seasons if they perceive it as "bad money."
The Raptors are coming off a surprisingly successful 2025-2026 season, defying expectations by securing 46 wins and the No. 5 seed in the Eastern Conference. Spearheaded by Scottie Barnes, who enjoyed a career-best year, the team showcased resilience, pushing the Cleveland Cavaliers to seven games in a hard-fought first-round playoff series despite injuries to key players like Ingram and Quickley. This recent performance has instilled confidence within the organization, suggesting they are poised to make a significant leap into genuine Eastern Conference contention. Acquiring Leonard, despite the risks associated with his age and injury history, is viewed as an opportunity to secure the best available player this offseason, potentially positioning them as a formidable challenger to the defending NBA champion New York Knicks.
Adding a compelling layer to the trade saga, the Dallas Mavericks have also "registered interest" in acquiring Leonard. This pursuit is particularly intriguing given the presence of Masai Ujiri, Leonard’s former general manager from their championship season in Toronto, who now helms the Mavericks’ front office. The Athletic reported that discussions between the Mavericks and Clippers have explored a package sending Leonard to Dallas in exchange for P.J. Washington, Klay Thompson (implying Thompson is currently with Dallas by 2026), and draft picks.
The Mavericks’ financial situation and draft capital present unique challenges. The team does not control any of its own first-round picks through 2030, a direct consequence of previous trades aimed at building a contender around Luka Dončić (who is no longer mentioned in this context, replaced by Cooper Flagg). Their only tradable first-round picks would be in 2031 and 2033. Sacrificing these distant picks would represent a steep price for a team aiming to build a sustainable contender around burgeoning talent like Cooper Flagg, who has been touted as a potential All-NBA player as early as next season. Nevertheless, the prospect of pairing Flagg with Kyrie Irving and a proven two-way superstar in Leonard could elevate the Mavericks into a legitimate playoff threat, and potentially more, contingent on the health of Dereck Lively III and the rapid development of this year’s No. 9 overall pick, Morez Johnson Jr. The appeal of a star trio, even with Leonard’s age and injury concerns, could outweigh the long-term cost of future draft selections for a franchise eager to compete.
The intricate dance of these trade negotiations underscores the high stakes for all involved. For the Clippers, it is a pivotal moment in their retooling efforts. For the Raptors and Mavericks, it represents a calculated gamble to accelerate their paths to championship contention. Leonard’s reported preference to extend only with former teams adds a critical variable, potentially shaping the league’s landscape for years to come.
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