Kawhi Leonard Deal Now on Hold as LeBron James, Anthony Davis Talks Continue

The NBA offseason has already produced a wave of blockbuster trades, but several major storylines remain unresolved as free agency and Summer League action continue in Las Vegas. Here are seven of the latest trade rumors and developments shaping the league heading into the 2026-27 season.

1. Kawhi Leonard’s trade to Toronto is on hold pending a league investigation. Leonard was initially traded from the LA Clippers to the Toronto Raptors on June 30 in a deal that would send Brandon Ingram, Gradey Dick, two unprotected first-round picks and additional draft compensation to Los Angeles. The trade was expected to be finalized after the league’s moratorium lifted July 6, but both teams issued statements saying the deal can only be completed if Toronto’s ownership group assumes the risk of penalties tied to an ongoing NBA investigation into whether Leonard’s endorsement arrangement with sponsor Aspiration constituted salary cap circumvention. Commissioner Adam Silver addressed the situation before Game 1 of the NBA Finals, saying he hoped for a swift resolution. “I think we’re close to the point now where I think we need to wrap this up because you also need finality,” Silver said. “Their team has to understand what the situation is they’re going to be operating under, and so do the other 29 teams.”

2. LeBron James remains undecided, and his choice is holding up several other rosters. James informed the Los Angeles Lakers he would not return for a ninth season, and as of this week his free agency has stretched well beyond his own past decision timelines, including his 2010 move to Miami and his 2014 return to Cleveland, both of which were announced by July 11. Teams including Cleveland, Denver, Golden State, Miami, Minnesota and Philadelphia have each kept at least two roster spots open specifically to accommodate James, according to ESPN. His longtime agent, Rich Paul, has said the decision will ultimately come down to fit rather than money. “If it’s about happiness, because if it’s the most money, then it’s not necessarily the most happiness,” Paul said on his “Game Over” podcast, adding, “As you’re going through this process, I’m saying to LeBron, ‘You really have to think this through.’ Everything looks great in July. Everything looks great on paper. But you got to be very careful with that.”

3. The Warriors’ pursuit of James may hinge on landing Anthony Davis. According to ESPN’s Shams Charania, Golden State is not viewed as a top contender for James unless the team can first pull off a trade for Davis, James’ former Lakers teammate. Complicating that pursuit is forward Jimmy Butler, whose $57 million expiring contract would likely need to be included in any Davis package. The Warriors have publicly told Butler he will not be dealt, though Butler is separately expected to be sidelined into at least the winter as he recovers from January ACL surgery, limiting outside interest in acquiring him regardless.

4. Jalen Duren’s future with the Detroit Pistons remains unresolved. Duren and the Pistons have yet to agree to a new contract as of this week, with league sources indicating a sign-and-trade remains a possibility if the two sides cannot reach an agreement on an extension. Duren’s situation has continued to draw attention from rival front offices monitoring Detroit’s roster decisions as the team looks to build around its young core following an active offseason that already saw the Pistons trade away veteran forward Caris LeVert.

5. Nikola Jokic is choosing to wait a full year before signing his next contract, a decision that will directly affect Denver’s trade calculus. Jokic became extension-eligible in mid-June for a four-year, $278 million deal, but is instead expected to wait until next offseason to sign a five-year, $359.5 million contract, which would become the largest deal in NBA history. Speaking in Serbian following a FIBA World Cup qualifying game, Jokic reaffirmed his desire to stay in Denver long term. “My idea and desire is to stay in Denver. I’ll probably sign next year,” Jokic said. “My desire is to play the rest of my life in Denver.”

6. New Orleans is fielding steady interest in forward Trey Murphy III, though a deal appears increasingly unlikely. Murphy has remained a frequent name in trade rumors, but one league executive told Heavy that acquiring him would likely require an offer similar to the four first-round picks Memphis received in the Desmond Bane trade, though that asking price has reportedly come down somewhat in recent weeks. Despite the interest, momentum suggests the Pelicans are more likely to keep Murphy on their roster heading into the coming season rather than complete a deal before training camp.

7. Evan Mobley’s long-term fit in Cleveland could be reshaped depending on where LeBron James ultimately signs. The Cavaliers, one of the teams still in the mix for James, carry an expensive roster built around Mobley’s four-year, $223 million extension, and analysts have noted that a James addition would likely reduce Mobley’s offensive touches given James’ need for a significant share of the ball. Some league observers believe Cleveland could ultimately look to move Mobley for a substantial return if the roster fit no longer makes sense, particularly if the team shifts into a more explicit win-now mode built around James.

Beyond these seven storylines, the broader offseason has already reshaped several rosters significantly. The Milwaukee Bucks completed a blockbuster trade sending two-time MVP Giannis Antetokounmpo to the Miami Heat for four players, four first-round picks and a pick swap, while the Boston Celtics traded Jaylen Brown to the Philadelphia 76ers for Paul George and additional draft compensation. The Memphis Grizzlies also moved on from Ja Morant, sending the guard to the Portland Trail Blazers as part of a broader teardown of the young core that once won 56 games together, while the Charlotte Hornets dealt LaMelo Ball to the Minnesota Timberwolves.

With Summer League continuing in Las Vegas and several marquee free agents, including James, still unsigned, league insiders expect additional trade activity in the coming days as front offices continue positioning their rosters ahead of the 2026-27 season, particularly once James’ decision finally resolves the logjam currently holding up multiple front offices around the league.