Adrian Wojnarowski of ESPN reported they are "working on an elaborate three-team deal" with the Memphis Grizzlies and Oklahoma City Thunder that would feature Andre Iguodala and Danilo Gallinari ending up in Miami.
The talks "could extend into Thursday."
This comes after Wojnarowski reported Miami acquired the veteran Iguodala and also agreed to a two-year, $30 million contract extension with him.
As for Gallinari, he is only under contract for this season, so this could represent an opportunity for the Thunder to land assets that can help them in the future before the sharpshooter potentially leaves in free agency this summer.
He is averaging 19.2 points, 5.7 rebounds and 2.3 assists per game while shooting 44.1 percent from the field and 41.0 percent from three-point range. He is averaging 7.4 three-point attempts per game and would give the Heat additional perimeter shooting as they compete in the East.
Miami is second in the league in three-point percentage (38.0) with multiple shooters who can take advantage of the spacing Jimmy Butler and Bam Adebayo create.
Gallinari could do just that for the Heat during the stretch run as they look to gain separation in the playoff race. They are tied with the Boston Celtics for the No. 3 seed and are 1.5 games behind the Toronto Raptors for the No. 2 seed.
He is also a playoff-tested veteran who has appeared in 18 postseason games in his career.