9:19pm: The Cavaliers would appear to be an ideal trading partner considering the amount of cap space, draft picks, and young talent they have, but the Grizzlies have not had any discussions with them about Gay nor would they likely be interested in what Cleveland would be willing to concede (Sam Amico of FOX Sports Ohio reports).
6:25pm: Matt Moore of CBS Sports writes that the Grizzlies are said to only be interested in a salary dump and view draft picks as the only value return.
4:37pm: The Kings and Celtics are other teams that have had conversations with the Grizzlies about Gay, according to Alex Kennedy of HoopsWorld. Kennedy also points out that the Rockets and Raptors have shown interest in Gay in the past, and are candidates to re-enter the mix.
12:37pm: The Warriors also engaged in preliminary discussions with the Grizzlies about Gay, but talks didn't go anywhere, reports Marcus Thompson of the Bay Area News Group. The Warriors like Gay, but the Grizzlies aren't interested in taking on any of Golden State's bad contracts (ie. Richard Jefferson), and the Warriors likely don't have the combination of young players and draft picks that Memphis is seeking, according to Thompson.
Zach Lowe of Grantland reported last week that the Warriors had "long coveted" Gay, but said they didn't seem to be a good match as a trade partner for the Grizzlies.