What happened: The five-year contract for Victor Wembanyama begins in 2027-28 and includes a fifth-year player option. The June 30 agreement involving Kawhi Leonard remains incomplete while the league reviews alleged salary-cap circumvention.
Why it matters: The contract structure preserves more future roster flexibility than a 30% Rose Rule max. The unresolved investigation keeps Leonard's 2026-27 destination from becoming official.
By the numbers: The extension is worth $252 million over five seasons, an average of $50.4 million per year.
What to watch: Watch for the NBA's findings and any subsequent transaction filing involving Leonard.