The exact details of the potential trade have not been solidified, but Toronto likely would get Anderson Varejao and/or J.J. Hickson, Delonte West and perhaps Anthony Parker. A draft pick could be involved as well.
Both James and Bosh are aware that such a trade is possible, and James has tried to recruit Bosh to the Cavaliers several times in the past few weeks, according to sources.
But right now, Bosh remains cold to the idea of playing in Cleveland.
The Cavaliers are hopeful that will change, because in Cleveland, Bosh can meet two of his top priorities: playing with James, and getting a six-year, $125 million contract.
If Bosh joins a team without doing a sign-and-trade, he will be able to sign only a five-year deal worth $96 million. He is determined not to leave that $29 million on the table, according to sources.
Although Bosh wants to play with James, he wants to do it in Chicago, Miami or New Jersey. Sources say he has told the Raptors those are the teams he would like to go to in a sign-and-trade.
Bosh also could play with Dwyane Wade instead of James in those cities.
Toronto, however, will not cooperate in a sign-and-trade with Miami, which has no players in whom the Raptors are interested, according to sources.
To move Bosh to Chicago, the Raptors likely would ask for Joakim Noah, though they could perhaps be persuaded to take a package that does not include him.
The Nets would seem to be able to put together an enticing package for the Raptors that included rookie lottery pick Derrick Favors.
Chris Broussard covers the NBA for ESPN The Magazine.