9:21pm: According to Ryan Wolstat of the Toronto Sun, the asking price reported by ESPN is a little steep in comparison to what his sources have told him. Wolstat writes that the Raptors are willing to deal the No. 8 pick, but that they aren't willing to package a young talent like Ed Davis in it.
7:05pm: The Raptors are reportedly willing to exchange their first round draft pick (No. 8) for an established, All-Star caliber swingman, according to ESPN.com's Marc Stein.
The team has been in the news looking to move this pick since last Wednesday's lottery, but now we have two official targets: Sixers forward Andre Iguodala and Grizzlies forward Rudy Gay. The Raptors are also willing to include Jose Calderon and/or Ed Davis in the deal, and figure that with their first round pick from last year, Jonas Valanciunas, most likely coming aboard this season, they already have enough young prospects to jump start a rebuilding effort.
Steve Nash also happens to be an offseason target, but since he's an unrestricted free agent, a trade is out of the question. Should they keep the No. 8 pick, Toronto is interested in Syracuse's Dion Waiters, UConn's Jeremy Lamb and Weber State's Damian Lillard.