The Toronto Raptors are finalizing a trade with the Orlando Magic to acquire Serge Ibaka in exchange for Terrence Ross and a 2017 first-round pick according to a report from Adrian Wojnarowski of Yahoo Sports.

The Raptors held two first-round picks in this summer's draft, their own and the Los Angeles Clippers' selection, acquired from the Milwaukee Bucks in the summer of 2015 as part of the Greivis Vasquez deal.

Ibaka, 27, is set to become an unrestricted free agent in the summer. By trading for him, the Raptors now hold his Larry Bird rights, which allows a team to exceed the salary cap in re-signing one of its own players.

A native of Congo, Ibaka brings needed size to the Toronto frontcourt. In 56 games this season, Ibaka is averaging 15.1 points, 6.8 rebounds and 1.6 blocks in 30.5 minutes a night.

Ross was originally taken in the first round of the 2012 NBA Draft (12th overall) out of Washington. He has three years remaining on his current deal at a total of $31 million.

The Portland native was the winner of the 2013 Slam Dunk Contest.

In 54 game this season - all off the bench - Ross is averaging 10.4 points and 2.6 rebounds in 22.4 minutes a night. He's shooting .375 from beyond the arc.