The Memphis Grizzlies continue to field calls from teams interested in Rudy Gay and are engaged in active trade discussions with the Toronto Raptors, sources with knowledge of the talks told ESPN.com.

New Grizzlies CEO Jason Levien told local reporters late last week that “we really like our team” and that it is “more likely than not that we do nothing” in terms of breaking up Memphis’ marquee foursome of Gay, point guard Mike Conley, forward Zach Randolph and center Marc Gasol.

But sources say that the Raptors, undaunted by that stance, continue to pursue Gay and also covet Grizzlies forward Darrell Arthur. Toronto, sources said, has made veteran point guard Jose Calderon and blossoming young forward Ed Davis available as the two cornerstones of its offer.

via Marc Stein, ESPN