The Dallas Pitch
The Mavericks finished 27th in offensive efficiency last season after trading Luka Dončić to the Lakers. Adding Leonard to a core of Cooper Flagg and Kyrie Irving (returning from a torn ACL) presents a high-risk, high-reward scenario.
However, Ujiri has publicly stated every decision would be "future-based," referencing Flagg's long-term timeline. The proposed deal — Washington, Thompson, and picks — preserves Dallas's young core while adding a proven champion. Yet the Mavericks possess limited draft capital, owing their 2027 first-round pick to Charlotte (top-two protected) and having no control over their 2029 pick.
The Raptors' Nostalgia Play
Toronto's interest stems from the successful 2018-19 season when Leonard led them to the title. With point guard and center listed as primary needs, adding Leonard would be an aggressive opportunistic move. The Raptors have younger assets and more draft flexibility than Dallas, potentially giving them a stronger offer.
Leonard's Health & Timeline
After years of load management and injury concerns, Leonard played 65 games in 2025-26 — his second-highest total since 2017. At 34 and earning $50.3M, any acquiring team must weigh short-term championship upside against long-term cap flexibility.
Historical Context
The last time Masai Ujiri traded for Leonard, the return was DeMar DeRozan, Jakob Poeltl, and a first-round pick. That deal resulted in an immediate championship. The current offer of Washington, Thompson, and picks mirrors that "win-now" philosophy — though the circumstances in Dallas are vastly different.