The Toronto Raptors are in a good position to re-sign Kyle Lowry on a deal that pays him at least $12 million per season, but no deal has been reached.

Lowry became an All-Star caliber point guard this season with the Raptors, though he made appearances in trade discussion reports last December.

The Miami Heat, Houston Rockets and Los Angeles Lakers are expected to be the rival teams interested in Lowry.

The Dallas Mavericks and Vince Carter have a strong mutual interest to agree upon a new contract, but he is also expected to receive interest from the Miami Heat, Oklahoma City Thunder, Portland Trail Blazers and Toronto Raptors.

Carter averaged 11.9 points, 3.5 rebounds and 2.6 assists in 24.4 minutes per game last season despite being 37.

The Toronto Raptors have picked up their 14-15 option on the contract of Tyler Hansbrough.

Hansbrough will make approximately $3.3 million.

Hansbrough signed with the Raptors last offseason.

The Toronto Raptors have acquired Lou Williams and Bebe Nogueira from the Atlanta Hawks for John Salmons.

Salmons' contract is non-guaranteed to the Hawks will play only $1 million of his $7 million salary, creating $4.5 million in cap space.

The Raptors didn't have a first round pick in 2013 due to the Kyle Lowry trade, so Nogueria effectively becomes that player.

Williams is owed $4.5 million in 14-15 and is a versatile scoring option in the backcourt.

The Toronto Raptors have extended qualifying offers to Greivis Vasquez, Patrick Patterson and Nando De Colo.

All three players came to the Raptors via trades last season.

Update: Ric Bucher has retracted his reports from Friday afternoon and Thursday evening in regards to Kyle Lowry going to the Heat.

Here is his statement on Twitter:

My deepest and sincere apologies. My report on Lowry and a S&T between the Raptors-Heat is wrong. I should've known better. I could not be more embarrassed. I can't explain why someone would go the lengths "my source" did to set me up, but that's irrelevant. I allowed my zeal to break a story take too much for granted. I'd like to think I'm better than that. Yesterday and today I was not.

Below is is what Bucher reported as we transcribed into a Wiretap.

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Ric Bucher is reporting that Kyle Lowry and the Miami Heat will eventually agree upon terms and that Chris Bosh may return to the Toronto Raptors as part of the deal.

Bosh is expected to opt out of his current contract as LeBron James previously did, according to a source.

The Raptors intend to meet with Bosh about his interest in returning to the franchise he played for between 2003 and 2010.

Bosh could receive a longer-term deal and a more significant role if he were to return to the Raptors. Many GMs and executives around the NBA have believed Bosh would be the most likely member of the Heat to leave the franchise should the Big Three be broken up.

Update: Ric Bucher has retracted his reports from Friday afternoon and Thursday evening in regards to Kyle Lowry going to the Heat.

Here is his statement on Twitter:

My deepest and sincere apologies. My report on Lowry and a S&T between the Raptors-Heat is wrong. I should've known better. I could not be more embarrassed. I can't explain why someone would go the lengths "my source" did to set me up, but that's irrelevant. I allowed my zeal to break a story take too much for granted. I'd like to think I'm better than that. Yesterday and today I was not.

Here is what Bucher reported that we transcribed into a Wiretap.

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An agreement between Kyle Lowry and the Miami Heat is "imminent", according to a source.

Teams, however, cannot speak to free agents from other clubs until after July 1.

"Lowry will be a member of the Heat," said the source, regardless of how the discussions between the current Big about opting out progress.

The exact terms of his deal are being worked out, but its value will be $9-$10 million a year for at least three years. He made roughly $6.2 million this past season.

The Heat would like to transform its Big Three of LeBron James, Dwyane Wade and Chris Bosh into a Big Four that includes Lowry and Carmelo Anthony instead of Bosh.

The Raptors are concerned that Lowry's improvement last season was inspired by his pending free agency and that has prompted the three parties to work toward a negotiate that benefits all sides. There is motivation for all involved to reach agreement quickly when free agency begins.

The Heat also drafted Shabazz Napier on Thursday to help solidify the point guard position, while Norris Cole could be dealt in a possible sign-and-trade for Lowry.

Doug Smith of the Toronto Star reports that there have been "zero" conversations between the Raptors and Heat.

The Toronto Raptors are considering a sign-and-trade of Kyle Lowry to the Miami Heat for cash and future picks, according to a source. The Raptors could also acquire Norris Cole in the deal.

Chris Bosh could also opt out and return to the Raptors, according to the report. 

Bucher writes that the scenario could also include Carmelo Anthony going to the Heat to create a "younger, more athletic Big 4."

The Heat, however, drafted Shabazz Napier on Thursday.

The Toronto Raptors are interested in acquiring the 22nd overall pick from the Memphis Grizzlies.

The Raptors would have to take back Tayshaun Prince in exchange, while sending out John Salmons and the No. 37 pick to the Grizzlies.

The Raptors are believed to be interested in Tyler Ennis and Clint Capela, as they also own the 20th overall pick. 

Kyle Lowry is expected to receive interest from the Houston Rockets, Miami Heat and Los Angeles Lakers.

Lowry played for the Rockets from 2009 until 2012 when he was moved to the Toronto Raptors for a first round pick that helped the team acquire James Harden.

The Toronto Raptors are still considered the frontrunners to retain Lowry.