The Dallas Mavericks and Los Angeles Clippers are in advanced trade discussions to send Kawhi Leonard to Dallas in exchange for P.J. Washington, Klay Thompson, and draft picks, according to multiple NBA league sources. With Leonard entering the final year of his $50.3 million contract and the Clippers facing potential cap penalties from an ongoing NBA investigation into his salary structure, the timing for a move has never been more urgent.
Why Dallas Wants Leonard—and Why It’s a Risk
The Mavericks’ interest in reuniting with Leonard stems from their shared history. Dallas president Masai Ujiri famously acquired Leonard from the Spurs in 2018 while running the Toronto Raptors—a trade that led to Toronto’s only championship. Now, Ujiri is back in Dallas, and the Mavericks are positioning themselves as Leonard’s most viable long-term destination. But the move isn’t just about nostalgia. Leonard would pair with Kyrie Irving and rookie Cooper Flagg, forming a star trio capable of pushing Dallas into the playoffs. Yet the trade carries risks: Leonard’s injury history, the Clippers’ reluctance to part with him, and the Mavericks’ limited draft capital due to past trades.
According to The Athletic, Ujiri has framed his approach as “future-based,” citing the Mavericks’ roster of young talent like Flagg. But trading for Leonard—a proven winner who could help Dallas contend immediately—contradicts that philosophy. “We have a 19-year-old generational player on our roster,” Ujiri said in May. “We have to think that way. We are not going to make decisions based on winning today. I don’t think that would make sense for the organization.” Yet the Mavericks’ recent moves—acquiring Washington and Thompson—suggest they’re willing to bend that rule for the right piece.
The Clippers’ Dilemma: Hold or Trade Leonard?
The Clippers are “undeniably determined to keep” Leonard, per Bleacher Report, but the financial and competitive pressures are mounting. The team owes draft picks through 2029 due to past cap circumvention allegations tied to Leonard’s salary, and the NBA’s investigation into his Aspiration sponsorship deal could cost them even more assets. Meanwhile, Leonard’s $50.3 million salary this season—plus the risk of him leaving again in 2027—makes him a liability if the Clippers don’t strike a deal soon.
For more on this story, see LaMelo Ball Trade Talks Intensify With Wolves, Raptors.
Thompson, the other key piece in the Mavericks’ proposed trade package, has been a disappointment in Dallas. After averaging just 11.7 points in 69 games last season, his bench role with the Mavericks contrasts sharply with his Finals MVP-caliber play in Golden State. The Clippers, however, see value in Thompson’s veteran presence—even if his production has declined. Washington, a key starter on Dallas’ 2024 Finals run, would also be part of the package, though his four-year, $88.8 million contract looms as a potential albatross for the Clippers.
The Raptors’ Shadow: Leonard’s Only Long-Term Options
Leonard has made it clear he’s only interested in extending with two teams: the Raptors or the Spurs. The Raptors, who control their own draft capital, have held “real” trade talks with the Clippers, according to CBS Sports. Toronto’s proposed return includes Brandon Ingram, a small forward who could slot in as Leonard’s replacement, though salary cap constraints complicate the deal. The Raptors would need to send out more money than they take in with Leonard to avoid a hard cap, meaning they’d likely have to include Ingram’s expiring contract as part of the trade.
Ingram’s fit in Los Angeles is clear: he’s the heir apparent at small forward, and his $17.5 million salary this season aligns with the Clippers’ needs. But the bigger question is whether the Raptors can afford to take on Leonard’s contract while also building around him. Toronto’s payroll is already stretched thin, and adding Leonard’s $50.3 million would push them into hard-cap territory unless they can structure the deal carefully.
This follows our earlier report, Giannis Antetokounmpo Trade to Heat Finalized.
What Happens Next: The Clock Is Ticking
The timeline for Leonard’s trade is tight. The NBA’s cap season begins July 1, and teams must finalize deals before then. The Clippers’ investigation into Leonard’s salary structure could also accelerate a decision—if the NBA rules against them, the team could lose additional draft picks, making Leonard’s contract even harder to justify. Meanwhile, the Mavericks are in a unique position: they’re not just chasing a star, but also trying to rebuild their draft capital after trading Luka Dončić to the Lakers.
One wild card is the Suns’ financial situation. As The New York Times reported, Phoenix is just $9 million over the luxury tax line and could cut payroll to avoid repeater tax penalties. If the Suns trade Dillon Brooks or Jalen Green—both key pieces from the Durant era—they could free up cap space to pursue Leonard themselves. But with the Mavericks and Raptors already in the mix, the competition is fierce.
The most immediate question is whether the Clippers will hold firm. Owner Steve Ballmer has reportedly resisted trading Leonard, but the financial and competitive math is stacking against him. If the Mavericks’ offer—Washington, Thompson, and draft picks—is close enough to what the Raptors are proposing, the Clippers may have little choice but to move on. For Dallas, the gamble is whether Leonard’s prime years are behind him, or if he can still deliver championship-level play alongside Irving and Flagg.
Read also: Bucks explore Giannis trade, Miami Heat face pressure in high-stakes offseason move.
The Bigger Picture: What a Leonard Trade Means for the NBA
A trade involving Leonard wouldn’t just reshape the Mavericks or Clippers—it could set a precedent for how teams handle aging superstars with expiring contracts. The NBA’s cap system already struggles with player retention, and Leonard’s situation highlights the tension between short-term wins and long-term planning. If Dallas lands him, it signals that even “future-based” teams are willing to take risks for proven talent. If the Clippers keep him, they’ll need to navigate the cap investigation carefully—or risk losing even more assets in the process.
One thing is certain: the league’s attention will be fixed on Dallas this offseason. The Mavericks’ roster is young, but unproven. Adding Leonard could turn them into contenders overnight—or backfire if his age and injury history catch up with him. For now, the trade talks are the story, but the real drama will unfold when the clock strikes July 1.
“We have a 19-year-old generational player on our roster. We have to think that way. We are not going to make decisions based on winning today. I don’t think that would make sense for the organization.”
—Masai Ujiri, Dallas Mavericks president, May 2026
<!– /wp:quote The Mavericks' decision to prioritize long-term development over short-term success could ultimately determine whether their young core can sustain a championship run in the years to come.Find more reporting in our Sport news section.
