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.

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 Charlotte Hornets have traded the draft rights to Dwight Powell and Brendan Haywood to the Cleveland Cavaliers.

The move saves the Hornets $2.2 million.

Powell played collegiately at Stanford.

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 Cleveland Cavaliers are asking for the No. 3, No. 10 and No. 32 overall picks from the Philadelphia 76ers in exchange for the No. 1 overall pick.

The 76ers are widely believed to want to draft Andrew Wiggins.

Adrian Wojnarowski reports that the 76ers could select Joel Embiid if they keep the pick.

Wojnarowski reported approximately one hour before the draft that the 76ers are no longer pursuing a trade with the Cavaliers to move up.

The Charlotte Hornets are firmly focused on acquiring shooters this offseason.

The Hornets own the ninth overall pick and are believed to be targeting Doug McDermott, Nik Stauskas or Gary Harris.

Charlotte offered Gerald Henderson and the 24th overall pick to the Orlando Magic for Arron Afflalo.

Afflalo was traded on Thursday to the Denver Nuggets.

The Houston Rockets have a contingent deal in place to trade away Jeremy Lin to create cap space to sign a maximum contract free agent such as LeBorn James or Carmelo Anthony.

The Rockets won't move forward with the Lin trade until they receive a commitment from James or Anthony.

The Philadelphia 76ers are making one final push to move up to the No. 1 overall pick via trade with the Cleveland Cavaliers to draft Andrew Wiggins.

Wiggins will almost certainly be off the board when the 76ers are scheduled to draft third overall.

The Cavaliers were previously expected to draft Joel Embiid, but his foot surgery has eliminated that possibility.

"They really, really, really want Wiggins," said a source.

Andre Iguodala believes the Golden State Warriors should not include Klay Thompson in a trade for Kevin Love.

“That’s not going to happen,” Iguodala said on Sirius XM on Thursday. “I want to clear that up right now. We should not trade Klay Thompson. “I tell Klay this every day. I text Klay and say, ‘Don’t worry. I’m your man. I’m going to make sure you get paid. I’m going to get you the max (contract). You’ll be taken care of. Don’t stress.’

“Klay really loves it in the Bay, and this is his first time going through trade rumors, and I’ve been through it many times, especially being in Philly. But Klay is my main man. I love Klay to death. One of my favorite people in the world even though he doesn’t speak. But we’re going to get Klay paid this year. He’s going to be a Warrior for life.

“If I’m any other team, I’d take Klay as well, so I don’t know. You’ve got to look at the pros out of it. I tell Klay this: ‘Listen, if they’re talking about trading you for Kevin Love, that means you’re getting Kevin Love money.’”

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.