The NBA’s offseason grading system assigns each franchise a letter based on trades, free-agent signings and extensions that shape the upcoming 2026-27 campaign. The Toronto Raptors are the only team left with an "incomplete" rating because the league’s biggest storyline for them , Kawhi Leonard’s free-agent decision , has not yet been resolved. With most clubs having already locked in moves, the Raptors’ evaluation remains suspended.
Toronto entered the free-agency period with limited cap flexibility and no marquee contracts on the table. The organization re-signed a handful of role players on short-term deals, but none of those contracts materially altered the team’s financial outlook. Because the grading rubric rewards tangible transactions, the Raptors cannot receive a definitive letter grade until Leonard’s status is settled.
By contrast, the San Antonio Spurs secured a 25 % maximum extension for Victor Wembanyama, a move that the grading panel highlighted as a major positive for the franchise. The Utah Jazz, meanwhile, acquired two unprotected first-round picks and two swap rights in a trade for Walker Kessler, an exchange the article described as arguably the best trade of the summer. The Atlanta Hawks also upgraded their bench through salary-dump trades, adding players such as Luguentz Dort, Aaron Wiggins and Devin Carter to raise their floor. These concrete actions propelled those clubs into higher grades, underscoring the gap between active roster construction and Toronto’s pending decision.
The incomplete grade does not imply a negative assessment of the Raptors’ long-term plan; rather, it reflects the unique circumstance of a franchise whose immediate fortunes hinge on a single free-agent choice. Until Leonard either signs an offer sheet or declines, the team’s offseason narrative remains unfinished, and the grading system must wait for that resolution before assigning a final letter.
This situation highlights how a single player’s decision can dominate an entire offseason’s evaluation. While other teams move forward with clear roster upgrades, the Raptors sit in a holding pattern, awaiting the outcome that will ultimately determine whether their grade shifts upward or remains neutral. The league’s grading exercise therefore turns into a waiting game for Toronto, with the final verdict tied directly to Kawhi Leonard’s choice.
