Reports of Toronto as a possible trade partner with San Antonio began to surface earlier in the week, with oddsmakers in Las Vegas saying they were even money favorites to land Leonard.
It represented the latest twist in a saga that gained steam in May when Leonard reportedly made it clear to the Spurs that his preference was to be traded to the Los Angeles Lakers. ESPN's Brian Windhorst revealed the team made a "compelling offer" to the Spurs for Kawhi Leonard.
"It's way more likely now than it was a couple of weeks ago", he said.
"The teams that would be used as facilitators for these deals - the Bulls, the Nets, and the Hawks - have all used their cap space", Windhorst said, adding that since most teams are unwilling to part with their prime young players, the Raptors have "defaulted" to the top of list.
According to Charania, the deal is centred on Leonard and Raptors shooting guard DeMar DeRozan.
Talks between the Spurs and Raptors have intensified in recent days, league sources said.
That does not seem to bother Toronto and a deal could be finalized as soon as Wednesday, league sources told the website.
As for DeRozan, the 28-year-old has already embedded roots with the Canadian franchise that drafted him, helping steer the Raptors into relevancy in the post-Vince Carter (or Chris Bosh) era, earning All-Star honors and several playoff trips in his nine seasons. If he chooses not to exercise that option, he would become an unrestricted free agent and he has insisted that he wants to play for the Los Angeles Lakers.
Assuming Leonard intends to only play in Toronto one season, is it worth it for the Raptors to go all-in to acquire him?
We could potentially see a trade where both players are not happy with the outcome but with the two teams certainly keen to get it done, a blockbuster deal looks imminent.