Grizzlies nearing deal to send Rudy Gay to Raptors

Adrian Wojnarowski Yahoo Sports US

The Memphis Grizzlies are nearing completion on a trade to send forward Rudy Gay to the Toronto Raptors, league sources told Yahoo! Sports.

View photo

.

Rudy Gay is averaging 17.2 points and 5.9 boards this season. (USA Today Sports)

The teams are expected to present proposals to their respective owners on Wednesday. A third team will likely take on the $10.5 million expiring contract of Raptors guard Jose Calderon, sources said.

Despite organizational proclamations to the contrary, new Memphis ownership and management is determined to unload Gay and the $37 million owed him as soon as possible, sources said.

[NBA Power Rankings: Spurs are new No. 1]

Preferably, the Grizzlies want a less expensive small forward to plug into the lineup for Gay, sources said. Memphis has been relentless in shopping Gay over the past several weeks.

In a proposed deal, Memphis would likely receive another young Raptors player and a possible future draft pick, sources said. The Grizzlies have unsuccessfully tried to pry Raptors rookie Terrence Ross as part of the deal, sources said. Toronto has deemed Ross untouchable in these talks.

[Also: Former NBA All-Star Allen Iverson declines a D-League invitation]

Recently, the Grizzlies' front office dumped three contracts and a first-round pick – including Mareese Speights, Wayne Ellington and Josh Shelby – onto the Cleveland Cavaliers to get under the luxury-tax threshold.

At 29-15, the Grizzlies are currently the fourth seed in the Western Conference playoff race. Beyond Gay, the Grizzlies have nearly $65 million in contracts locked into forward Zach Randolph and center Marc Gasol through the 2014-15 season. They are determined to lessen luxury-tax implications of holding onto three significant contracts.

Other popular content on Yahoo! Sports:
Alex Rodriguez the biggest name in new PED report | Denials
Ray Lewis dealing with pain of ailing grandmother
Forde Minutes: Seven more intriguing players to watch

Sign up for Yahoo Fantasy Hockey
Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.
    • Pacers welcome Knicks, chance to play at home

      The Indiana Pacers will look to end a two-game losing streak when they play host to the New York Knicks on Monday night at Bankers Life Fieldhouse. The Pacers (22-21) have won seven of their last 10 games despite the recent straggles. Things … More »

      AP - Sports - 2 hours 14 minutes ago
    • Towns has 32-12-7 as Wolves top Nuggets

      Towns has 32-12-7 as Wolves top Nuggets

      Karl-Anthony Towns and Nikola Jokic represent the big men of the new millennium - versatile, do-everything combo guards in the bodies of centers who are giving their downtrodden franchises hope that better days are right around the corner. Towns … More »

      AP - Sports - 2 hours 29 minutes ago
    • Sunday's Top 5

      Sunday's Top 5

      Take a look at the top 5 plays from Sunday's NBA action. … More »

      NBA.com - 2 hours 54 minutes ago
    • Bledsoe scores 40 as Suns win in Toronto

      Bledsoe scores 40 as Suns win in Toronto

      Following a career-high 40-point game, Phoenix Suns guard Eric Bledsoe begrudgingly conceded he might be playing the best basketball of his career. Bledsoe added 13 assists and six rebounds and Phoenix gave Toronto its third straight loss. After … More »

      AP - Sports - 3 hours ago
    • GAME RECAP: Timberwolves 111, Nuggets 108

      GAME RECAP: Timberwolves 111, Nuggets 108

      Karl Anthony Towns records 32 points and 12 rebounds to lead Minnesota as the Timberwolves hang on to defeat the Nuggets. … More »

      NBA.com - 3 hours ago