TUESDAY, 9:57pm: Wojnarowski reports that the final hurdle for a deal that would send Gay to Toronto hinges on finding a third team to take Calderon's contract. He adds that within the deal's current framework, the Grizzlies are likely to receive another young Raptors player along with a future draft pick. Terrence Ross is not one of the names being considered, as the Raptors have reportedly deemed the rookie untouchable. 

8:11pm: Ryan Wolstat of the Toronto Sun says that the Raptors have little interest in taking additional salary in the form of Darrell Arthur's contract, and thus a third team would be needed if he were included into discussions. 

12:46pm: As they try to find a way to land Gay, the Raptors are engaging teams about a possible three-team deal, but are having trouble finding a taker for Calderon, according to Adrian Wojnarowski of Yahoo! Sports (via Twitter).

MONDAY, 7:00pm: The Grizzlies are engaged in active trade discussions with the Raptors centering on Rudy Gay, reports Marc Stein of ESPN.  Stein says that while the Raptors are Gay's most active suitor, no initial framework for a deal has been agreed upon.  Stein confirms that, due to last week's trade, the Grizzlies feel that they no longer must trade Gay and can instead wait and consider more fair value offers. 

The Raptors have been determined in their pursuit of Gay and also are interested in Grizzlies forward Darrell Arthur.  Toronto is offering up Jose Calderon and third-year forward Ed Davis as two of the main pieces in a potential deal.

Stein says that the Celtics have also inquired on Gay's availability, but was told that they balked at the prospect at giving up Paul Pierce in the deal.  In light of Rajon Rondo's injury, Stein was also told that Boston would be more likely to pursue Kyle Lowry and his cap friendly deal than Gay and his bulky contract.  As talks heat up, Stein says, more teams could become involved in a potential deal.

Grizzlies' coach Lionel Hollins, as well as several of the team's players, have reportedly lobbied management for a chance to play the season out as currently constructed.  But the Memphis front office is worried about its ability to improve the roster in future years, Stein says, and is subsequently seeking first round picks in any deal.

Led by Jrue Holiday, the 76ers remain three games out of the eighth seed in the Eastern Conference. Significant help in the form of another all-star caliber player could be on the way within the next several weeks, as Andrew Bynum has continued to make progress toward his goal of possibly returning to practice next week, notes Tom Moore of PhillyBurbs.com. The 7'0 center has been plagued by bone bruises in both knees since the start of the season. With that aside, here are more news and notes from the Atlantic Division: 

• Mike Mazzeo of ESPN New York reports that Nets GM Billy King will meet with owner Mikhail Prokhorov on Wednesday to discuss P.J. Carlesimo and the job he's done so far as the interim head coach. While Carlesimo has done an exceptional job after replacing Avery Johnson, Prokhorov is said to still be enamored with going after big names such as Phil Jackson and Jeff Van Gundy in the offseason. 
• According to A. Sherrod Blakeley of CSNNE.com, Celtics guard Rajon Rondo will get a second opinion on his ACL injury from Dr. James Andrews, who is considered be arguably "the best orthopedic surgeon in the business."  
• Mike Ganter of the Toronto Sun lays out the Raptors' top five pressing issues as they inch closer to the deadline, calling their interest in Rudy Gay the "most likely to come to fruition" rumor, examining the return of both Andrea Bargnani and Jonas Valanciunas from injury, Terrence Ross' progression into coach Dwane Casey's crunch-time lineup, and the continued acclimation of Landry Fields. With regard to Bargnani, Ganter thinks that Casey may have to provide a significant role at the expense of Ed Davis' minutes in order to showcase the 7-footer's health. 
• Eric Koreen of the National Post doesn't think that Gay is the cure-all answer for the Raptors, who still have many other important questions to answer regardless of whether they land him or not. Among those question marks involve the franchise's commitment to GM Bryan Colangelo, the need for more significant roster moves, and the struggles of point guard Kyle Lowry. 
• Doc Rivers doesn't appear too concerned about his players making an adjustment without Rondo, saying that a "no-point guard system" is something that the second unit has already found success with, writes Greg Payne of ESPN Boston. 
• Mike Woodson will place a higher priority on getting Knicks three point sharpshooter Steve Novak more involved in the offense, says Ian Begley of ESPN New York. 

When we asked on Saturday where you think Rudy Gay will finish the season, votes were fairly split, with many of you suggesting he'd stay in Memphis or that the Raptors were one of the top candidates to acquire him. With five and a half weeks still remaining before the trade deadline, we have a few Gay updates to pass along, including one related to those Raps, so let's dive right in....

• The Grizzlies have tabled the idea of trading Gay for now, sources tell Sam Amico of Fox Sports Ohio. One source indicates that the offers for Gay will probably get worse toward the trade deadline, and believes the team would be better off waiting until after the season to make another push to trade him.

Earlier updates:

• Agent Mark Bartelstein tells Michael Lee of the Washington Post that he has spoken to both the Wizards and Grizzlies and that his client Bradley Beal has not been offered in any potential Gay deal. "The Wizards have made it very clear that they are not moving Brad Beal," said Bartelstein.
• The Grizzlies have spoken to every team in the league over the last month or so, but haven't shown an inclination to simply give away players like Gay for financial purposes, says Ronald Tillery of the Memphis Commercial Appeal.
• Gay is likely to remain in Memphis through season's end, unless the team receives a no-brainer proposal, according to Tillery.
• Although Tillery writes that the Wizards may be open to including Bradley Beal in a package for Gay, Grantland's Zach Lowe tweets that, based on what he has heard, he'd be shocked if Washington moved Beal for Gay.
• Michael Lee of the Washington Post confirms that the Wizards have had conversations with the Grizzlies about what it would take to acquire Gay, and hears from one source that they're "pushing for" the forward. However, Lee indicates that a Washington offer would likely include any of the team's recent first-round picks besides Beal and John Wall.
• The Raptors' chances of acquiring Gay are dwindling fast, according to Doug Smith of the Toronto Star, who says the asking price is too high for Toronto. Smith hears that Terrence Ross and Jonas Valanciunas came up in conversations, which didn't interest the Raps. The Star scribe estimates there's only a 5% chance that more serious discussions occur between the two teams.

A flurry of Rudy Gay rumors on Tuesday suggested that the Suns and Grizzlies were discussing a possible deal for Gay that could include Jared Dudley, and that the Warriors, Kings, and Celtics were among the other teams that had at least preliminary talks with Memphis. With six weeks still to go before this season's trade deadline, it's unlikely that the Grizzlies make a move this early, but the reports continue to pour in, so we'll round up today's Gay-related rumors right here, with the latest added to the top of the page throughout the day:

• The Nuggets also spoke to the Grizzlies about Gay, but those discussions appear to be fruitless, writes Sam Amick of USA Today. Amick adds that the Mavericks aren't currently pursuing Gay.

Earlier updates:

• The Raptors are seriously interested in making a run at Gay and are believed to be dangling young big man Ed Davis and Jose Calderon's expiring contract, reports ESPN.com's Marc Stein. Toronto previously made a run at Gay, offering packages headlined by Calderon and their No. 8 pick in last year's draft, which eventually became Terrence Ross.
• The Grizzlies haven't made a decision one way or the other yet on whether they'll trade Gay, says Stein, who adds that some rival GMs believe Memphis could wait until the summer to make a move. According to Stein, the Grizzlies don't intend to just move Gay's salary if it significantly weakens the team in the process.
• Responding to Stein's report, Ryan Wolstat of the Toronto Sun expresses uneasiness about the Raptors parting ways with Davis, and suggests that Ross may make more sense as a target for the Grizzlies (all Twitter links).
• At least eight teams have expressed some interest in Gay, tweets Steve Kyler of HoopsWorld. Kyler adds in a second tweet that the Grizzlies are "geniunely torn" on whether or not to move the veteran forward.
• If the Grizzlies have contacted the Timberwolves about Gay, it was a very casual conversation, says Darren Wolfson of 1500 ESPN Twin Cities. Finding a big man is the more pressing concern for Minnesota, according to Wolfson.

Despite the Knicks' early season success, one important question revolves around how Amare Stoudemire will integrate himself within the team's current chemistry once he is finally ready to return from injury. With that in mind, the answer to that question will have to be put on hold a little bit longer, as Al Iannazzone of Newsday writes that Stoudemire isn't quite ready to participate in games just yet. Coach Mike Woodson, who met with his forward earlier today, said that he'd like to see Amare go through more practice time and gave the impression that a return during the team's three-game road trip was unlikely. Here's the rest of what we've heard out of the Atlantic Division tonight: 

• Certain players who will have an important role in how well Amare will fit in, namely Raymond Felton and Jason Kidd, appear ready for the challenge and confident about their ability to make things work, says Iannazone. 
• Among the brighter spots of the Raptors' five game winning streak is Terrence Ross, who coach Dwane Casey insists is earning minutes out of merit rather than an attempt to develop him (Doug Smith of TheStar.com reports). 
• Mike Ganter of the Toronto Sun says that despite the team's hot streak, Casey has tempered the hoopla surrounding the team and remains focused on the work that still needs to be done. Also, Ganter discusses Aaron Gray's role as a viable stopgap at center while Jonas Valanciunas is out with an injury. 
• Ronnie Brewer has seen nearly a 33% drop in his three point percentages this month compared to November, though Jared Zwerling of ESPN New York writes that his shooting struggles aren't related to any lingering effects from the knee injury he suffered before the season started.

The Raptors have completed just over a quarter of their season schedule, finding themselves tied with the Cavaliers for the second worst record in the Eastern Conference. Yesterday, we noted that GM Bryan Colangelo used the words "unacceptable" and "embarrassing" to describe his current thoughts on the team. During the first quarter of their game against the Clippers today, Colangelo followed up on those comments and touched upon other Raptors-related topics (Holly Mackenzie of Sportsnet.ca has the transcript). Here are some of the highlights:

On trade speculation: 

"We were talking to a lot of teams, what we always do, and it's a means of pursing avenues to improve your basketball team so if a deal comes along that makes sense, that is right and fits within the plan of this building process that we've been going through, we'll certainly take a look at it. If it can accelerate that process and if it fits then we'll look to address something. But nothing specific about any player right now. There's been a lot of speculation, a lot of rumors. Again, we're continuing to look at opportunities."

On Andrea Bargnani's consistency issues: 

"(Last year) it looked like he was putting up all-star numbers obviously for the first 15-18 games. He has not gotten back to that level. It looked that way early in preseason that he was coming back ready to become and perform at that level. But unfortunately we have not seen that consistency." 

On rookies Terrence Ross and Jonas Valanciunas: 

"(Ross is) a great talent and a number of the people I've talked to around the league think he's a great talent to have...he's been the recipient of some extra minutes because of some injuries. That's a good thing that will help us in the long run."

"(Valanciunas is) learning the nuances of what we're doing from a system standpoint, but also learning the game at the same time...Jonas is only 20 years old and really represents the future of this basketball team."

On second year big man Ed Davis: 

"We talked a lot about him getting off to a slow start because he didn't have the kind of development early that he needed early due to an injury and then also due to the lockout, but he had a great summer...But it really with him comes down to a focus on his effort level night in and night out."

On the team's struggles: 

" I do not believe that it's a talent issue right now; I do believe that it's about a team coming together. We're very young, we've had some injury issues, we've got the schedule, but we're not making excuses, we know there are some things that are broken and need to be fixed right now, but again, it's a lack of focus and a lack of attention to detail, I think more than anything right now."

On this Sunday afternoon, here are a few bits of notes from around the Atlantic Division.

• Rajon Rondo tells CSNNE.com that this year's Celtics team has the most talent of any he's been a part of.
• Raptors rookie Terrence Ross will be expected to push fourth-year guard DeMar DeRozan, writes Eric Koreen of the National Post.
• After finishing their second preseason game with a better performance than their first, the Celtics are looking like a very strong basketball team, writes WEEI.com's Paul Flannery. 
• Being that the Celtics have no true backup point guard on their roster, Jamar Smith has a great chance at making the team if he can fill that role, tweets the Boston Globe's Gary Washburn.  
• Knicks rookie point guard Pablo Prigioni is ready to put his disappointing Olympics performance behind him as he heads into his first NBA training camp, writes the New York Post's Marc Berman. 
• Keith Schlosser of Ridiculous Upside wonders if the Celtics would be wise to send Fab Melo to the D-League. 

The Raptors have officially signed Terrence Ross to a rookie scale contract, the team announced today in a press release. The eighth overall pick will earn $2,563,320 in his rookie season, assuming he signs for the maximum 120% of the rookie scale amount.

Ross, who attended the University of Washington, averaged 16.4 points and 6.4 rebounds per game in his sophomore season.

Our previous round-up of Thursday's draft rumors was getting a little unwieldy, so here's a new post for the evening's rumors. Even with the draft underway, the rumors continue to pour in, so we'll round up the latest updates right here. Here's the latest draft buzz, with the newest items up top:

• After trading three picks for one to land Tyler Zeller, the Cavs are trying to trade back into the draft, tweets Sam Amico of FOX Sports Ohio.
• The Grizzlies intend to keep Tony Wroten, the 25th overall pick, but are working on a trade, tweets Ronald Tillery of the Memphis Commercial Appeal.

Earlier updates:

• The Mavericks shopped the No. 24 pick they acquired from Cleveland and were "very open" to moving it, tweets ESPN.com's Marc Stein. However, Stein adds in a second tweet that the Mavs will draft Jared Cunningham for themselves with the pick.
• Jonathan Givony of DraftExpress.com says he wouldn't be surprised if the Celtics packaged their picks to trade for Royce White, who the Rockets selected at No. 16 (Twitter link). According to Givony, Boston was "very worried" about another team drafting White.
• The Celtics' interest in Austin Rivers was fueled more by GM Danny Ainge than Doc Rivers, says Chris Mannix of SI.com (via Twitter).
• The Cavaliers are still "aggressively pursuing" a second lottery pick, tweets Jason Lloyd of the Akron Beacon Journal.
• Warriors GM Bob Myers says his phone "almost blew up" with teams trying to trade up to No. 7 to draft Harrison Barnes, says Rusty Simmons of the San Francisco Chronicle (Sulia link).
• While Michael Kidd-Gilchrist was a surprise pick for the Bobcats at No. 2, multiple reporters, including David Aldridge of TNT and Jonathan Givony of DraftExpress.com tweet that Charlotte isn't expected to trade MKG. However, Givony adds in a second tweet that that door isn't entirely closed.
• Though they couldn't complete a trade with the Kings, the Rockets are still trying to get into the top 10, tweets Ken Berger of CBSSports.com.
• Despite plenty of talks, the Bobcats and Cavaliers "never had anything close," tweets Adrian Wojnarowski of Yahoo! Sports.
• If Austin Rivers and Damian Lillard come off the board within the first nine picks, the Hornets are "strongly leaning" toward Meyers Leonard, tweets Adrian Wojnarowski of Yahoo! Sports.
• The Cavs and Bobcats are still engaged in "deep discussions" involving the No. 2 pick, tweets TNT's David Aldridge.
• The Rockets are talking to the Bobcats and Kings and pushing hard to acquire a top-five pick, tweets Chris Mannix of SI.com.
• If the Cavs trade up to No. 2 to land Bradley Beal, the Wizards will likely decide between Harrison Barnes and Michael Kidd-Gilchrist at No.3, with Barnes having the slight edge, tweets Jeff Goodman of CBSSports.com.
• Teams interested in Fab Melo may be looking to trade into the late teens, tweets Jonathan Givony of DraftExpress.com.
• The Pistons may attempt to trade back into the end of the first round, tweets Vincent Goodwill of the Detroit News. Detroit has its eye on a couple players that could slip.
• Several teams believe that there is starting-caliber talent in the second round and are trying to buy second-rounders, tweets SI.com's Chris Mannix.
• The Wizards (No. 3), Kings (No. 5), and Blazers (No. 6) all appear likely to stand pat, tweets TNT's David Aldridge.
• The Cavaliers are offering the Bobcats the 4th, 24th, and 33rd picks for Charlotte's 2nd and 31st picks, tweets ESPN.com's Chris Broussard. According to Sam Amico of FOX Sports Ohio (Sulia link), the Bobcats still appear set on making Cleveland take a contract in the deal.
• The Blazers are putting out "serious signs" that they might draft Dion Waiters over Damian Lillard at No. 6, tweets Jonathan Givony of DraftExpress.com.
• The Rockets are showing interest in guards like Austin Rivers and Terrence Ross, along with centers like Andre Drummond and Meyers Leonard, tweets Mark Berman of FOX 26 Houston. Berman adds in a separate pair of tweets that the Rockets are also interested in high-upside players like Perry Jones III, and that Houston doctors don't believe Jones' health concerns are serious.
• If the Bobcats can't find a trade partner who will take on Tyrus Thomas' contract, they may look to move Matt Carroll's deal instead, tweets Rick Bonnell of the Charlotte Observer.
• Speaking of the Bobcats, they've narrowed their five offers for the second overall pick to just two offers, according to Chris Broussard of ESPN.com (Twitter link via Marc Stein). The Rockets and Cavaliers are still in the mix for the No.2 pick.
• The Cavs have also talked to the Warriors at No. 7 and the Rockets at No. 12 about trades involving Anderson Varejao, says Broussard (via Stein on Twitter).
• Austin Rivers tops the Hornets' wish list for the 10th overall pick, tweets Adrian Wojnarowski of Yahoo! Sports.

The Cavaliers are bringing in Terrence Ross for a private workout today, which raises some eyebrows, since Ross would be a major reach at fourth overall, but isn't expected to slip to 24th. Could the Cavs be looking at Ross in case of a trade? According to Chad Ford of ESPN.com (Insider link), while Cleveland is still exploring moving up from No. 24, the team may also be seriously considering moving down from No. 4 if it means acquiring multiple assets. Here are a few more draft-related rumors from Ford....

• If Cleveland wants Ross, the club had better not trade out of the top 11, says Ford, who hears the Bucks could be leaning toward the Washington wing at No. 12.
• The Rockets' first-round picks (Nos. 14, 16, and 18) are viewed as placeholders around the league, as the general consensus is that Houston won't have any of the three picks by tomorrow night.
• Jazz GM Kevin O'Connor continues to explore ways to land a lottery pick, likely to draft Damian Lillard. The Warriors' top-six protected 2013 pick could be in play, along with a number of players. Enes Kanter and Derrick Favors probably aren't on the table though.
• Ford spoke to a number of GMs and scouts to get an idea of which prospects rank well analytically and which don't. Dion Waiters and Jared Sullinger are among the prospects that rate highly, while Austin Rivers and Meyers Leonard rate poorly using advanced analytics.