The Memphis Grizzlies and Toronto Raptors are moving closer to finalizing a Rudy Gay trade, but are still searching for a third team to take Jose Calderon.

The Grizzlies would receive a young member of the Raptors and a future pick, according to sources.

"With so many quality point guards, they're struggling to find a spot for Calderon," one league general manager said.

Memphis has sought to acquire Terrence Ross, but the Raptors have ruled him untouchable.