Lee has now met with Chicago, Miami and Minnesota, but he has been proceeding with the understanding that the Toronto Raptors could be his ultimate destination if Chris Bosh decides to go to New York. The Raptors are amenable to such a deal, and the salaries would not have to match because Toronto would be trading Bosh into open cap space. If they got Lee at an $11 million starting salary, the Raptors would also gain a $5.5 million trade exception, and Bosh would get a sixth year on his deal and 10.5 percent annual raises, increasing the value of his contract by $30 million.

The key to everything is James, of course, and the Knicks have told James he can bring along whichever big man he chooses, be it Amare Stoudemire, Bosh, Lee or Carlos Boozer.
Linky: ESPN