SATURDAY, 9:20pm: Lucas has received a two-year, $3.0MM offer from the Raptors, with the second year of the contract being a team option, tweets Mark Deeks of ShamSports.
WEDNESDAY, 4:46pm: The Raptors are "in serious talks" with John Lucas III, reports Marc Stein of ESPN.com. According to Stein, Toronto is close to a deal to sign Lucas away from the Bulls, with Chicago resigned to losing the 5'11" guard.
The Raptors have been considering signing a third point guard to play behind Kyle Lowry and Jose Calderon, and perhaps become Lowry's primary backup if Calderon is traded. While Lucas is hardly a big name, he had a quietly effective season for the Bulls in 2011/12, as we noted earlier today in our list of top remaining free agents by PER. The 29-year-old's 16.3 PER puts him second among available point guards. Lucas also averaged 7.5 points and 2.2 assists in 14.8 minutes per game, all career highs.