Toronto’s trade for Kawhi Leonard isn’t a done deal yet.

The acquisition won’t be completed until the NBA’s investigation into the Clippers possibly circumventing the salary cap is done, the Raptors announced today.

The teams agreed to a deal sending Leonard to Toronto for Brandon Ingram, Gradey Dick, unprotected 2031 and 2033 first-round picks, a 2027 first-round pick swap and a pair of future second-round selections.

In a statement released Thursday, the Clippers said 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.”

Here is the statement in its entirety:

For the past 10 months, our organization has fully cooperated with an NBA investigation, participating in dozens of interviews, providing tens of thousands of documents, and facilitating access to our staff. While the process has been challenging, we have remained committed to transparency.

On June 30, we reached an agreement in principle to trade Kawhi Leonard to the Toronto Raptors. 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.

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.

We recognize the uncertainty this has created and the impact it has had on our team, our fans, the Raptors organization, their fans, and the players whose futures remain affected while this process continues.

We remain confident that, when the facts are evaluated fairly and thoroughly, the NBA will confirm exactly what we have said from the beginning: We have not done what we are accused of doing.

Toronto countered with its own statement:

“Regarding our planned trade with the LA Clippers for Kawhi Leonard, 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 Raptors remain eager to bring Kawhi back to Toronto and look forward to a swift resolution for our players, our organization, and our fans.”

The NBA investigation centers on whether the team circumvented salary cap rules by using a $28 million endorsement deal Leonard signed with Aspiration, a banking company that’s now bankrupt, to funnel him money. Clippers owner Steve Ballmer had a $60 million investment in Aspiration, which also had a 23-year endorsement deal with the franchise that was worth $300 million.

On Thursday, the Clippers again denied funneling money to Leonard through Aspiration, claiming they were victims of a fraud initiated by Apiration co-founder Joel Sanberg, who was convicted and is currently serving a 14-year prison sentence.

The 35-year-old Leonard is a seven-time All-Star and two-time winner of NBA Finals MVP honors.