Spurs officially announce Kawhi Leonard, Danny Green trade to Toronto for DeMar DeRozan

SAN ANTONIO – UPDATE: The Spurs have officially announced they have traded Kawhi Leonard and Danny Green to the Toronto Raptors.

The Spurs will receive all-star DeMar DeRozan, center Jakob Poeltl and a protected first-round pick. 

The Spurs issued a press release with details about the trade at 11 a.m. Head coach Gregg Popovich is expected to speak about the trade at 1 p.m.

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The Toronto Raptors have reached agreement in principle to acquire San Antonio's Kawhi Leonard for package that includes All-Star guard DeMar DeRozan, league sources tell ESPN. 

ESPN's Adrian Wojnarowski says San Antonio has agreed to trade Kawhi Leonard and Danny Green to Toronto for DeMar DeRozan, center Jakob Poeltl and a protected 2019 first-round pick.

Reports of Toronto as a possible trade partner with San Antonio began to surface earlier in the week, with oddsmakers in Las Vegas saying they were even money favorites to land Leonard.

DeRozan, 29, averaged 23 points and 5.2 assists per game last season and is under contract for the next two seasons.

ESPN says Raptors general manager Masai Ujiri is making the trade with the belief he can talk Kawhi into staying with the Raptors in free agency.

Leonard's camp has made it clear that he would like to sign with the Los Angeles Lakers next summer.

ESPN’s Zach Lowe reported on July 5 that a possible Spurs-Leonard deal surrounding DeRozan was possible.

In order for such a trade to work financially, other players had to be included in the deal as well.

The deal has not been finalized and the players involved must still pass physicals for a trade to get done.