The Raptors entered Thursday as +220 East favourites at Sports Interaction, and they just got better.
Gasol is going to the Raptors in a deal that also includes Jonas Valanciunias headed to the Memphis Grizzlies, according to multiple media reports.
Gasol, 34, has played his entire 11-year career in Memphis, earning three All-Star nods and helping establish the Grizzlies' famed "Grit and Grind" style. The Hornets had been the favorite to land the Memphis big man, but Gasol is now headed to Canada.
Gasol took home the award after the 2013 season.
Valanciunas, 26, was drafted by the Raptors in the first round (fifth overall) of the 2011 National Basketball Association entry draft and is in his seventh season with the team.More news: Is Apex Legends available on console?
More news: Facebook's quarterly profits rise to $6.9 billion
More news: Facebook Messenger's Unsend Feature Now Available Globally on iOS and Android
Much like Nick Nurse did with Valanciunas and Ibaka, he'll have the option of starting Gasol or Ibaka depending on the matchup; Gasol against bully ball centres like Joel Embiid and Ibaka against floor spacers like Brook Lopez.
Valanciunas, 26, has missed Toronto's last 25 games with a thumb injury, but was scheduled to return to the lineup tonight in Atlanta.
Toronto is under added pressure with a chance to convince Leonard to remain in town when he becomes a free agent in the offseason.
"I've been in rumours so many times I don't even look at it", Valanciunas noted. That Raptors team was swept by Cleveland in the second round of the playoffs.
According to NBA.com, Gasol is generating 3.4 points per game in the post this season - roughly a quarter of his scoring - putting him behind 10 players for most in the league.
The Raptors are now second in the Eastern Conference with a record of 39-16, while the Grizzlies rank among the worst in the league at 22-23.