The Miami Heat were Kyle Lowry's preferred team if he was traded at the deadline, sources tell Kevin O'Connor of The Ringer. Lowry's close friendship with Jimmy Butler is cited as the driving force of that preference.

The Heat can realistically create approximately $26 million in cap space while keeping the cap holds of Duncan Robinson and Kendrick Nunn. While it would be short of max cap space, it is the type of number Lowry is reportedly seeking in free agency.

The Los Angeles Lakers and Philadelphia 76ers were the two other teams to pursue Lowry at the deadline and neither will have cap space. 

Beyond Miami, the only teams projected to have cap space are the Chicago Bulls, Cleveland Cavaliers, Charlotte Hornets, New York Knicks, Dallas Mavericks, San Antonio Spurs and Toronto Raptors. Toronto is likely the only other threat to the Heat in their efforts to sign Lowry.

The Philadelphia 76ers have signed Paul Reed to a standard NBA contract.

Reed was recently named the G League MVP and Rookie of the Year.

The team also signed Mason Jones to a two-way deal. 

The Toronto Raptors believed they were "very close" to a trade agreement with the Philadelphia 76ers involving Kyle Lowry, a source with knowledge of the talks told Sam Amick of The Athletic.

The 76ers and Raptors had the final hurdle of draft compensation before reaching a deal. 

Danny Green, who would have been traded by the 76ers, was set to be moved to a third team. Philadelphia pivoted to a deal with the Oklahoma City Thunder for George Hill.

The Miami Heat were reluctant to include Tyler Herro, while the Los Angeles Lakers felt similarly about Talen Horton-Tucker.

The Golden State Warriors have interest in trading for Danny Green.

Green has been the subject of trade rumors with the interest the Philadelphia 76ers have shown in acquiring Kyle Lowry. Green is on an expiring contract.

The 76ers acquired Green before the season as part of the Al Horford trade.

The Philadelphia 76ers have agreed to acquire George Hill from the Oklahoma City Thunder for Tony Bradley and two future second round picks (2025 and 2026).

Austin Rivers will go to the Thunder from the New York Knicks as part of a three-team trade. The Knicks will acquire Terrance Ferguson, Vincent Poirier and a 2021 second round pick from the 76ers. The 76ers will also acquire Iggy Brazdeikis from the Knicks as part of the deal.

Hill is signed through the 21-22 season and gives the 76ers another ballhandler.

Adrian Wojnarowski reported that the 76ers are now out on Kyle Lowry.

The Toronto Raptors have signaled that the Philadelphia 76ers and Los Angeles Lakers are the two leading contenders to trade for Kyle Lowry with the Miami Heat in third, according to Brian Windhorst on ESPN's First Take.

The Heat still have a window to improve their offer to the Raptors for Lowry.

Windhorst added that Lowry is preparing to be traded to the 76ers.

The Lakers would need to send a combination of Kentavious Caldwell-Pope, Dennis Schroder and Wesley Matthews. The Lakers have had interest in signing Schroder to an extension and the Raptors are believed to have interest in pursuing him in free agency.

The Toronto Raptors are "seriously engaged" with the Los Angeles Lakers, Miami Heat and Philadelphia 76ers on a trade of Kyle Lowry.

The Heat and 76ers have been linked to Lowry for several weeks, while the Lakers emerged publicly this week.

Lowry is on an expiring contract with the Raptors and one general manager commented privately that he was essentially having his free agency this week.

"As of [Wednesday], the Raptors weren't thrilled with their offers for Kyle Lowry," said Brian Windhorst on First Take. "They're basically negotiating with only two teams, with Miami and Philadelphia. From what I can glean from people I've talked to, neither one of them are putting the premium, premium package they can offer for Kyle Lowry and that's frustrated the Raptors a little bit. 

"Part of the issue is that Kyle Lowry wants a contract extension, or at least a new contract after this season somewhere in the neighborhood of $25 million per year over two years. And that's an issue for Philadelphia and that could contribute to their hesitancy."

Windhorst expects Lowry to be traded to either the Heat or 76ers by the trade deadline.

"I frankly do not believe that is true," said Windhorst of rumors linking Lowry to the Lakers suggesting it is a smokescreen from Toronto to get the 76ers and Heat to improve the offers.

The Los Angeles Lakers could emerge as a possible trade destination for Kyle Lowry.

The Miami Heat and Philadelphia 76ers have long been linked to a trade for Lowry.

Lowry will be a free agent in the offseason.

Adrian Wojnarowski also said that the Raptors are working with Lowry and Mark Bartelstein through the process. 

While the Philadelphia 76ers have been linked with a trade for Kyle Lowry for several weeks, they have also had talks on a number of other guards.

Norman Powell, Lonzo Ball and George Hill have also been targets for the 76ers.

Philadelphia has long had a need at point guard.

The Toronto Raptors are in trade talks involving both Kyle Lowry and Norman Powell on multiple fronts, sources tell Adrian Wojnarowski of ESPN.

Talks are expected to extend into Wednesday and possibly even Thursday.

Both the Philadelphia 76ers and Miami Heat are interested in trading for Lowry, but so far have shown restraint in what they're willing to offer.

The 76ers have also shown interest in Powell, Lonzo Ball and George Hill.