The Toronto Raptors apparently no longer have interest in swapping one perpetually-underrated point guard for another.

According to Marc Stein of The New York Times, the Raptors have suspended trade talks with the Memphis Grizzlies that could have netted them Mike Conley before Thursday's trade deadline.

Sports Illustrated's Jake Fischer rocked the NBA world early Wednesday morning by reporting that Toronto had offered Memphis All-Star guard Kyle Lowry and center Jonas Valanciunas for Conley and Marc Gasol, also on the trade block as the Grizzlies finally embrace a full-scale rebuild.

Memphis balked at that proposal, apparently, preferring that president Masai Ujiri part with O.G. Anunoby and draft assets in any deal for Conley, a suggestion that was immediately denied by the Raptors.

Regardless, both Conley and Lowry remain key factors in the frenzy leading up to tomorrow afternoon's trade deadline.

While it appears increasingly unlikely Lowry, always a long-shot to be traded, will be dealt, the Grizzlies still have every intent on going down to the wire with discussions on Conley, especially as they continue advanced discussions with the Charlotte Hornets on a trade for Gasol.

Any trade involving Toronto was always most likely to include bench players rather than a member of the team's core. Lowry is an indispensable piece for the Raptors, second place in the East at 39-16, given his quick-hitting passing ability and dogged defense.

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Conley might have represented an upgrade, but more so due to Lowry's uncharacteristic struggles from beyond the arc this season than any major gap between the two players.

This deal was always a pipe dream, but keep an eye on all parties involved here nonetheless.

Memphis is the league's foremost seller, and the notoriously aggressive Ujiri is never afraid to rock the boat in hopes of increasing his team chance to win a title.