Marc Stein has the details:
The Memphis Grizzlies and Toronto Raptors have agreed in principle on a trade that will send leading scorer Rudy Gay to the Raptors, according to sources with knowledge of the deal.
Sources told ESPN.com the Grizzlies will acquire forward Ed Davis and veteran guard Jose Calderon from the Raptors and then move Calderon to a third team to ultimately make this a three-team deal.
The Detroit Pistons, sources said, are one of the prime options to take on Calderon, having pursued the Spanish floor leader all season.
Sources told ESPN.com that the Pistons have agreed to send Tayshaun Prince and Austin Daye to the Grizzlies to acquire Calderon as part of the trade.
Memphis, sources said, is also expected to receive a second-round pick from Toronto as part of the deal.
The best thing about this deal? We can stop hearing about Pierce-for-Gay rumors.