Sources told ESPN, The Athletic and the Miami Herald that the Heat and 76ers have shown interest and reached out to the Raptors to inquire about Lowry. The NBA trade deadline is at 3 p.m. EDT Thursday.
Lowry has not officially requested a trade. Sources said he will seek a new contract this off-season, regardless of which team he plays for.
The veteran guard said in early March that he "will retire as a Toronto Raptor," even if he ends up with another team.
"Myself, my agent, the organization, everyone has to do what's best for them," Lowry told reporters on March 10.
"Who knows what that is? I know I'm still playing at a good enough level where I can help a team, I can help us [the Raptors] get better."
Lowry, 34, is averaging 17.6 points, 7.4 assists and 5.6 rebounds per game this season. The six-time All-Star has spent his last nine seasons with the Raptors. Lowry signed a three-year, $90 million contract extension in 2017 and a one-year, $30 million extension in 2019 for the 2020-21 season.
The Raptors (17-26) host the Denver Nuggets at 7:30 p.m. EDT Wednesday at Amalie Arena in Tampa, Fla.