According to Sean Deveney of Sporting News, the Wizards are asking for two players and two draft picks in exchange for Beal.
While Beal could be a good fit in Toronto, Deveney speculated that the Raptors would have to part with promising players Pascal Siakam and OG Anunoby, as well as two first-round selections to land him.
Deveney added that Toronto would also have to convince Washington to take a 2023 first-round pick as part of the deal since its 2019 first-rounder is already owed to the San Antonio Spurs.
Given those circumstances, a deal involving Beal is unlikely to come to pass.
Beal would give the Raptors another bona fide offensive star, though, as he is averaging a career-high 23.6 points, 4.8 rebounds and 4.7 assists per game this season.
The 25-year-old is also knocking down 2.3 three-pointers per contest.
Beal was named an All-Star for the first time last season, and with John Wall out for the remainder of the 2018-19 campaign with a heel injury, he is an even more important figure for the Wiz moving forward.
Washington is a disappointing 15-23 this season but only three games out of a playoff spot in the top-heavy Eastern Conference.
Beal has two years remaining on his contract beyond 2018-19 at an average yearly salary of around $28 million.
Toronto could use some backcourt help with point guard Kyle Lowry nursing a back injury, but Fred VanVleet has been a solid fill-in during his recent absence.
Even with Lowry missing some time, the Raptors are in great shape, as Kawhi Leonard has led them to a 28-12 start, which has them in a virtual tie with the Milwaukee Bucks for the No. 1 seed.