3:44pm: The Grizzlies would be looking for more than Lowry and Valanciunas in return for Conley and Gasol, according to Mitch Lawrence of Sporting News, who hears that Memphis asked for Pascal Siakam (Twitter link). The Raptors aren’t trading Siakam, but would be willing to include Delon Wright and a future first-round pick, says Lawrence.
Toronto’s 2019 first-round pick is committed to San Antonio, so the 2021 first-rounder would be the next one available.
2:18pm: While the Grizzlies have reportedly been primarily engaged in talks with the Jazz and Pistons for Mike Conley, another potential suitor has entered the mix, according to Jake Fischer of SI.com. League sources tell Fischer that the Raptors have contacted Memphis and offered Kyle Lowry and Jonas Valanciunas in a deal for both Conley and Marc Gasol.
It’s a fascinating offer from Toronto’s perspective, as the second-best team in the East appears willing to give up an All-Star guard and an important rotation piece in a proposal that would reshape its roster. Lowry has been made aware of the Raptors’ trade talks involving him, per Fischer.
On the other hand though, it’s hard to see why the Grizzlies would jump at Toronto’s offer, unless the franchise isn’t totally committed to rebuilding. Lowry has a cap number similar to Conley’s, albeit with a contract that expires a year earlier. Valanciunas has a $17.62MM player option for next season.
By comparison, Utah’s offer for Conley reportedly includes a sizable expiring contract (Ricky Rubio‘s) and a first-round pick. It could also feature a prospect like Dante Exum or Grayson Allen, according to Fischer. Detroit’s offer for Conley is said to include Reggie Jackson and a first-rounder. The Grizzlies are believed to be seriously considering both teams’ offers, per Tony Jones of The Athletic (Twitter link).
According to Fischer, the Grizzlies turned down the Raptors’ initial offer and would prefer to receive younger players – such as OG Anunoby – and/or draft assets from Toronto.
Meanwhile, Michael Grange of Sportsnet.ca provides a different perspective, tweeting that he’s heard the talks between the Grizzlies and Raptors were initiated by Memphis and didn’t progress very far.
While Grange’s and Fischer’s accounts on which team initiated the talks seem contradictory, it’s possible both are accurate — perhaps Memphis made the first call and the Raptors, in turn, returned the Grizzlies’ call to let them know what they’d be willing to offer. If the Grizzlies didn’t like what they heard, discussions may not have advanced from there.