Kawhi Leonard’s path back to Toronto took a sharp turn away from Miami, and the reason appears to have been as direct as it was decisive: he reportedly made clear he would only extend with the Raptors or the San Antonio Spurs.
According to NBA insider Marc Stein, the Heat were among the teams that explored a deal for Leonard this summer, but his extension stance helped push them out of the mix. “As The Stein Line first reported in June, Leonard made it known amid interest from trade suitors such as Miami, Minnesota, and Detroit that he would only be interested in signing an extension with the Raptors or San Antonio (which did not pursue a trade for him),” Stein wrote in his latest report.
Leonard is now back in Toronto after seven seasons in Los Angeles with the Clippers, landing with the Raptors in a blockbuster trade that could also shape the Clippers’ rebuild. Miami was not the only team in the chase, with the Detroit Pistons and Minnesota Timberwolves also showing interest.
The Heat’s interest makes sense on paper, especially given the idea of pairing Leonard with Giannis Antetokounmpo. That kind of star power would have been a serious problem for opponents.
Leonard can score at all three levels, while Antetokounmpo controls the paint. Add in the fact that both players have won Defensive Player of the Year, and the fit would have been overwhelming on both ends.
But getting there would have meant paying a steep price. Miami had already thinned out its roster depth to acquire Antetokounmpo this summer, which makes any Leonard package harder to sell. The Heat would have needed to decide whether pushing in even further was worth sacrificing more of the future.
A deal would likely have had to start with Andrew Wiggins and Nikola Jovic to match Leonard’s salary, along with a first-round pick. Even then, the Clippers would have had reason to ask for more, especially with Leonard’s contract situation and the questions surrounding the salary cap circumvention scandal narrative at the time.
The Heat do have two tradable first-round picks left, in 2029 and 2032, but they do not have young, promising talent to offer on the level of a Gradey Dick. That likely limited their leverage in negotiations.
Leonard, meanwhile, is coming off an MVP-caliber season, putting up 27.9 points, 6.4 rebounds, and 3.6 assists per game while shooting 50.5% from the field and 38.7% from three. He is now eligible for a two-year, $126 million contract extension.
In the end, the move came down to Leonard’s preference. He wanted to finish this stretch of his career only in a place he already knew, and Toronto was one of the only two teams he was willing to commit to.
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