Report: Heat eyeing Lowry sign-and-trade after picking up Dragic's team option

Miami Heat's Goran Dragic (7) drives around Toronto Raptors' Kyle Lowry. (Alan Diaz/AP)

The Miami Heat are reportedly still targeting Kyle Lowry in free agency, according to Adrian Wojnarowski of ESPN, and have decided to pick up the $19.4 million team option on Goran Dragic's deal as a possible precursor to a sign-and-trade deal for the Toronto Raptors icon.

Miami will also be declining the $15 million team option for Andre Iguodala's contract next season, freeing up cap space and making him a free agent, according to Wojnarowski.

Earlier this week, the Heat, Dallas Mavericks and New Orleans Pelicans have recently been reported as clubs at the forefront of pursuing Lowry.

Though negotiations are not officially permissible until Monday at 6 p.m. ET, NBA insider Marc Stein's reporting has indicated that Lowry is the the top target for all three teams, with the Heat having an apparent recruiting advantage due to Lowry's close relationship with Miami star Jimmy Butler.

If Lowry, a fixture on the Raptors during the team's rise from playoff contenders to NBA champions, chooses to leave Toronto, he will enter free agency this summer as one of the most sought-after point guards on the market.

A six-time all-star during his nine-season run in Toronto, Lowry averaged 17.2 points and 7.3 assists per game last season.

The 35-year-old is coming off a one-year, $30.5 million deal with the Raptors.

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