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.