The Lakers are considered the favorites to sign Jose Calderon if he is amnestied by the Raptors to sign Steve Nash, according to sources.

Calderon would have to clear waivers through the amnesty process before he is free to choose his next team.

But if he does become a free agent, Calderon would then look to sign with the Lakers.

Sources say Calderon would also have interest in joining Luis Scola wherever he ends up if he is traded.

The Heat and Spurs are also intriguing to Calderon.

The Suns appear unwilling to sign Steve Nash to a three-year deal, an offer he is likely to receive from the Raptors and Nets.

Nash earned $11.7 million last season, but the Phoenix offer is likely to be for less than that.

"He (Nash) will have many factors to weigh," Suns President of Basketball Operations Lon Babby said. "Candidly, we will have decisions to make. If we can get together and reach a common ground, that's fine. Regardless of the outcome, the one thing I'm confident about will be that it'll be handled with grace and dignity on both sides. We'll see if there is a basis for the relationship to continue that's best for him and also best for us."  

The Mavericks are prepared to offer Steve Nash a two-year deal if they are unable to secure Deron Williams, according to sources.

Nash played several seasons with the Mavericks until signing with the Suns in the summer of 2004. Nash and Dirk Nowitzki remain close friends.

"Everyone knows they're going to go after Deron Williams," said Nash. "He's a terrific player, a lot younger than I am, and that'd be the smart thing for them to do. But if they don't get him, maybe I'll be a candidate there as well. It's a great city. It's one that obviously I have a history with and an affinity and affection for, so it's another opportunity different from Toronto but one that's exciting and has some great facets to it as well."

Nash sees the circumstances of his 2004 exit as being irrelevant in considering a return.

"That's so far in the past. For me that's not really a factor."

The Raptors will bring a contingent of five members of the organization to meet with Steve Nash as soon as he's ready on Sunday.

Toronto's offer, likely to reach $12 million per season according to sources, is likely to be the most lucrative.

The Raptors are pushing for a playoff return in the 12-13 season.

"The Raptors would be one of those teams where you're probably not going there to win a championship in the next three years," said Nash. "For me it'd be going home to Canada, to a great city, and trying to help an organization move forward.

"I'm open to the positives of all of them. It'd be great if four or five contenders came after me and all offered me a deal, but the reality is I might not get that opportunity. So I'm going to look at every opportunity and Toronto will be one that I'll study as well and look at the opportunity for them to grow in the next three years and what kind of impact I can have on that team. And obviously from a community standpoint, it's a special place for me."

Steve Nash doesn't have a favorite contender to sign with as free agency begins, but he can envision himself leaving the Suns.

The Suns, Raptors, Mavericks, Knicks and Mavericks are the favorites to sign him.

"I couldn't list a favorite," Nash said.

"But I do know that for the first time I realize that it might not be Phoenix. I would have said even in the middle of (last) season or last year that I would have thought I probably would have stayed in Phoenix forever. But it's come to a point now where I'm facing the reality that's not (the case)."

Nash says he senses Suns officials are ready to rebuild without him.

"I don't necessarily feel like it's a home run anymore," Nash said of re-signing with the Suns. "I don't necessarily feel like they're determined to keep me. I think there's a lot of factors. So, one, I'm not sure they're determined to keep me, (and) two, there's other opportunities that are exciting. So I think I have to be open-minded ... but at the same time be able to forecast where I'll be most successful and happiest."

The Raptors have been aggressive in their efforts to move up from the eighth overall selection ahead of the Warriors at seven to draft Dion Waiters, according to sources.

Both Toronto and Phoenix have expressed to Waiters' agent that they would select him with their picks, according to league executives.

Waiters was initially projected as a mid-first round pick, but climbed into the lottery.

Cleveland could select Waiters with the fourth pick if Michael Kidd-Gilchrist and Bradley Beal are off the board.

The Cavaliers' interest in Dion Waiters with the fourth overall pick has increased significantly, according to sources.

Waiters hasn't visited the Cavaliers for a workout or a meeting with officials, but he remains in play for the franchise, especially if the team is unable to draft Bradley Beal.

Sources believe the Cavaliers would take Waiters with the fourth pick if Michael Kidd-Gilchrist and Bradley Beal are off the board.

Cleveland has intensified its background checks on Waiters.

The Cavaliers would prefer to move up to draft Beal, but have resisted agreeing to a trade with the Bobcats due to their unwillingness to take back Tyrus Thomas.

As one league source connected to the talks said, "The rest of the deal would have to be very strong for [the Cavs] to take on [Thomas]."

The Raptors have been aggressive in moving ahead of the Warriors in pursuit of Waiters, according to sources.

Steve Nash is expected to choose between the Suns, Knicks, Nets, Raptors and Mavericks as he enters free agency, according to sources.

The Nets have cap space to sign Nash while also keeping Deron Williams. A source said the Nets would welcome pairing Williams and Nash together.

When asked if the Knicks or Nets were a better option, Nash said: "Right now the Knicks. Maybe in the few years the Nets."

The Knicks would need to agree to a sign-and-trade with Phoenix in order to acquire Nash.

Nash isn't ruling out remaining with the Suns.

"Phoenix has been home for 10 years," Nash said. "It’s a very important place for me. I'm a Phoenix Sun. I still am to this day. It's definitely still possible. We'll see what happens."

Damian Lillard worked out for the Raptors for a second time on Tuesday.

Lillard is being considered by Toronto with the No. 8 selection should he remain available.

Bryan Colangelo has narrowed his list of preferred draft targets to three.

“We’re looking at a list that also includes players that if our guys are gone, we have to be prepared to make a decision, whether it’s moving the pick or keeping the pick,” Colangelo said. “The list is not just limited to those three, it’s evaluating players beyond those three.”

League sources confirmed Toronto and Houston have had at least cursory discussions for the No. 8 pick.

“I truly think there are some legs to some of the conversations because we might even be involved in some of those or at least feeling our way through some of the scenarios,” Colangelo said.