The shooting guard is averaging 19.5 points, 3.0 rebounds and 1.8 assists in 41 games this season—including 30 starts. As Powell works on putting together a career year in scoring, the Raptors can't help but listen to offers for the 27-year-old.
The UCLA product holds a player option for the 2021-22 season which would pay him $11.6 million should he decide to exercise it. If not, he'll become an unrestricted free agent after this year and could cash in on the open market.
For a 17-26 Raptors team on the outside of the playoff picture looking in—and with plenty of trade candidates on the roster—moving Powell and earning a return now may be worth more than potentially losing him for nothing in free agency.
Marc Berman of the New York Post reported earlier Wednesday the New York Knicks are one of the teams interested in Powell, though the franchise doesn't appear willing to give up first-round picks for the guard without assurances he would re-sign in New York.
"He's got upside to his game," one NBA scout told Berman. "Plus he has that chip on his shoulder. He plays better than his minutes show. He's shown the ability to be a full-time starter."
With only hours to go until the deadline passes, Powell's future remains very much up in the air as bids continue to roll in for his services.