Toronto Update (2:53 PM): Bryan Colangelo has contacted the representatives of Jose Calderon in an effort to determine the cost of a possible extension with the backup guard. Colangelo is willing to pay MLE (or slightly above MLE) money for the PG. However, if Calderon demands a contract in line with TJ Ford and Maurice Williams, Colangelo will likely deal him during the middle of the season. Calderon will be a restricted free agent, however, given the demand for quality point guards, there's always risk involved if you let a player test the market.
http://www.flyonthewallsports.com/rich_text.html
Edit: I'm not so sure about this site credibility right now don't take this very seriously until a this is confirmed by a more reliable source but hey its great to speculate for the time being