The Los Angeles Clippers and Toronto Raptors have agreed in principle to a deal that would send 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. 

Though the deal has been reported and agreed to, it has not been officially announced by the league or either team. 

Now we know why. 

The Los Angeles Clippers put out a statement revealing that the trade will not be completed until the NBA investigation into the Clippers is over. 

In September, the NBA launched an investigation into the Clippers and Kawhi over allegations of a "no-show" endorsement deal with Aspiration. Under the deal, Leonard was allegedly paid under the table by Clippers owner Steve Ballmer, who was an investor in Aspiration.

Balmer and the Clippers denied the allegations. 

In a full statement put out by the Clippers, it says, "We have since been informed that the trade can only be finalized if the Raptors' ownership group assumes the risk of penalties related to Kawhi’s contract that could theoretically result from the ongoing investigation. The investigation is ongoing, and we expect the trade to be finalized following its conclusion." 

The Raptors put out their own statement, saying, "The NBA league office informed us that as a result of the ongoing investigation involving the Clippers, we would assume the risk of any potential outcome of the investigation impacting Kawhi. In light of this, we will wait until the league's investigation is complete." 

The investigation has been ongoing since September, and it is unclear when it will conclude. Kawhi played an entire season with the Clippers without any consequences from the league. 

In an interview with ESPN back in September, Ballmer claimed that he had no knowledge of the terms of the contract Leonard had signed with Aspiration, and stated he was a victim of fraud by Aspiration. 

He claimed the team had introduced Leonard to Aspiration after signing a $300 million sponsorship agreement with the company, but had no further involvement in any endorsement deals the parties signed. Ballmer's sponsorship agreement with Aspiration is allowed under NBA rules.

In the Clippers' statement, they continue to deny the allegations and point the finger at Aspiration and Joe Sanberg for fraud. 

"At the heart of this investigation are Joe Sanberg and Aspiration. We did not funnel money to Kawhi Leonard through Aspiration. Like many sophisticated investors, financial institutions, and business partners, we were victims of a fraud initiated by Sanberg, who has been convicted and sentenced to 14 years in prison," the statement reads. 

In June, Sanberg was sentenced to 14 years in prison for a five-year scheme to defraud multiple lenders and investors of at least $248 million.

For now, the Clippers and Raptors must continue to wait for the league to conclude its investigation before the trade can go through. The Raptors rightfully don't want to assume any risk of the deal, given that it could lead to some type of punishment and suspension for Kawhi. 

The league may have to speed up its investigation to be fair to both teams, whose offseason plans are now on hold as they wait for a decision.