What's buzzing:

Grizzlies nearing deal to send Rudy Gay to Raptors

Adrian Wojnarowski
Yahoo Sports

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

View Comments (240)
  • Thunder-Jazz Preview

    What the Oklahoma City Thunder feared has been confirmed. Kevin Durant's season is over as he prepares to have bone graft surgery next week to treat a fracture in his right foot. The difference has been a healthy Russell Westbrook, and a day after … More »

    AP - Sports - 2 hours 58 minutes ago
  • Curry has 38 as Warriors rout Grizzlies

    Curry has 38 as Warriors rout Grizzlies

    The Golden State Warriors matched their franchise record for wins in a season by routing the closest team to them in the Western Conference. Stephen Curry had 38 points and 10 assists, leading the Warriors to their 59th win with a 107-84 victory … More »

    AP - Sports - 3 hours ago
  • Duke bettors win on final free throw, cover spread thanks to replay review adding 0.6 seconds

    Duke bettors win on final free throw, cover spread thanks to replay review adding 0.6 seconds

    Think that last free throw was meaningless for Duke as it beat Utah in the Sweet 16? Thousands of gamblers in Las Vegas disagree. The free throw allowed the top-seeded Blue Devils to cover a 5-point spread on Friday night, topping the Utes by 6 at … More »

    The Canadian Press - 12 hours ago
  • NBA Playoff Picture Update: The East goes through Atlanta

    NBA Playoff Picture Update: The East goes through Atlanta

    It was inevitable, but the Hawks have captured the East's No. 1 seed in a stunning season. … More »

    Ball Don't Lie - 12 hours ago
  • Nuggets-Trail Blazers Preview

    The Portland Trail Blazers have put together back-to-back wins, but their play at times has brought reminders of the issues that led to the losing streak that preceded those victories. Another matchup with the Denver Nuggets could bring out their … More »

    AP - Sports - 12 hours ago