Clippers-Raptors trade for Kawhi Leonard on hold

The LA Clippers and Toronto Raptors agreed on June 30 to a trade sending Kawhi Leonard to Toronto in exchange for Brandon Ingram, Gradey Dick, unprotected first-round picks in 2031 and 2033, a 2027 first-round pick swap and two second-round picks. The trade will not be completed until the NBA finishes its investigation into whether the Clippers circumvented the salary cap, the Clippers announced Thursday.

The Clippers stated the trade can only be finalized if the Raptors' ownership group assumes the risk of penalties related to Kawhi Leonard's contract that could result from the ongoing investigation. The Raptors issued their own statement saying they would wait for the league's findings rather than assuming that risk, but they remain eager to bring Kawhi Leonard back to Toronto and look forward to a swift resolution.

Investigation details The NBA's investigation focuses on whether the Clippers circumvented the salary cap by funneling money to Leonard through his $28 million endorsement deal with now-bankrupt green banking company Aspiration, which also had a $300 million, 23-year endorsement deal with the team.

Team owner Steve Ballmer, who invested $60 million in Aspiration, has denied he had knowledge of Leonard's deal. Leonard and his uncle and business adviser Dennis Robertson have been interviewed by investigators. An NBA spokesperson told ESPN on Thursday that the league expects the outside counsel firm conducting the probe to finalize its work in the coming weeks.

The Clippers said Thursday they did not funnel money to Kawhi Leonard through Aspiration and that they were victims of a fraud initiated by Aspiration co-founder Joe Sanberg, who has been convicted and sentenced to 14 years in prison.