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.