5:06pm: It appears the Lakers will send a first-round pick to the Blazers in the deal, reports Sam Amico of Fox Sports Ohio. The Lakers would like to target a point guard in another, but giving up the pick makes that difficult.
4:46pm: Everything has been agreed upon except for what the Blazers would receive from the Lakers, tweets Chris Haynes. According to Haynes (on Twitter), the Blazers wants a draft pick, with Blake being the fallback option. I don't see how the deal gets done if Blake is the only asset heading to Portland.
4:36pm: The Blazers would receive a first-round pick in addition to Blake, tweets Joe Freeman of The Oregonian. Freeman isn't sure where the pick would be coming from, though I have to assume it'd be one of the Lakers' first-rounders. Meanwhile, Crawford's agent tells Jason Quick of The Oregonian that the deal is close to being done (Twitter link).
4:28pm: This deal is getting closer to becoming a reality, according to Chris Haynes of CSNNW.com. Haynes says (via Twitter) there will be other pieces involved if the teams reach an agreement, but that Crawford, Beasley, and Blake are the primary parts. Jerry Zgoda of the Star Tribune agrees that this trade is the most likely move for the Timberwolves (Twitter link).
2:54pm: Alex Kennedy of HoopsWorld (Twitter link) confirms that the three teams are talking about a deal, adding that Steve Blake would be going to the Blazers in the proposed trade. I don't think that changes the fact that Portland would want a draft pick.
1:55pm: Talks between the Timberwolves and Trail Blazers for Jamal Crawford are gathering momentum, tweets Adrian Wojnarowski of Yahoo! Sports. The discussions also involve the Lakers, who would receive Michael Beasley from the Timberwolves in the proposed deal, tweets Wojnarowski. I'm guessing the Blazers are seeking a first-round pick from L.A.
Though the Timberwolves and Blazers looked like a promising match last week, Ricky Rubio's ACL injury seemed to put a damper on discussions, since the T-Wolves needed Luke Ridnour at the point. However, Chris Haynes of CSNNW.com said on Monday that Minnesota's pursuit of Crawford hadn't faltered, and that perhaps the Wolves could bring in a third team.
Ken Berger of CBS Sports reported yesterday that the Blazers seemed to be cooling on the idea of trading Crawford, since they couldn't find a first-round pick for him. Portland hopes to gain cap space this summer and Crawford figures to opt out of the final year of his deal, so the Blazers have some motivation to keep him. But if they can gain a pick and avoid bringing on any future salary, the Blazers would obviously be inclined to make a move.