What happened: Leonard signed a two-year, $115M extension carrying a player option for 2028-29. The deal follows his return to Toronto in July. He expects to finish his career with the Raptors, per Shams Charania.

Why it matters: The agreement keeps Toronto's lead wing under contract through at least 2028. It closes a summer of uncertainty around the trade call and league review. Toronto now heads to camp with its rotation settled.

What to watch: Toronto opens camp ahead of the 2025-26 season with Leonard under contract. The focus shifts to final roster decisions and opening-night availability.