What happened: Victor Wembanyama's contract runs five years on the 25% rookie maximum. The NBA must complete its investigation into alleged salary-cap circumvention before the Kawhi Leonard transaction can proceed.
Why it matters: Wembanyama's terms preserve future roster flexibility by excluding 30% supermax escalators. Leonard's delay leaves the transaction unresolved ahead of the 2026-27 season.
By the numbers: Five years, $252 million, with a player option in Year 5. Supermax escalators could have increased the total to $303 million.
What to watch: The NBA aims to finish the investigation before the season. Any discipline would follow Leonard if the trade is completed.