Colangelo in Toronto. (Getty Images)

The Toronto Raptors are out of the Rudy Gay trade talks due to the high asking price from Memphis. From the Toronto Star

Not game specific, that’s for sure, but according to a highly-placed source, any chance of the Raptors picking up Rudy Gay in a trade are diminishing rapidly and it’s less and less likely something will happen.

The reason?

The asking price is far too high.

As I mentioned last week, the players most coveted include the likes of Jose Calderon, Terrence Ross and one of the young bigs – and I know (Jonas) Valanciunas’s name has come up in conversation – and I would suggest Bryan (Colangelo) should have no interest in that kind of chatter.

That is a high mark. That's the problem with any Raptors-Grizzlies deal. Either Memphis loses horribly, in a deal surrounding Calderon's $10 million expiring, Alan Anderson, and whatever other pieces are thrown in (Andrea Bargnani's position doesn't help Memphis at all), or the Raptors wind up giving the farm.

Ross has been terrific over the past month and like Washington's Bradley Beal, has too much upside. You don't trade a player whose ceiling you haven't discovered for a player of Gay's caliber, though he would, as Smith says, be the best player on the team.

It's just not a fit that would work.

The Raptors should remain in trade talks until the deadline, though.