Perry, 21, is 6-foot-8 and was selected by the Clippers in the second round (No. 57 overall) of the 202 draft. His rights were then traded to the Nets in a three-team deal also involving the Pistons.
He appeared in 26 NBA games last season, averaging 3.0 points and 2.8 rebounds.
Gillespie, 24, is 6-9 and went undrafted out of Baylor in 2020. He appeared in 20 games with the Raptors last season, averaging 5.6 points and 4.9 rebounds. He has also spent time in the G League with the Memphis Hustle.
“Gillespie had $50,000 of his 2021-22 contract guaranteed. If he’s not claimed off waivers, that amount will go on Toronto’s books,” RealGM noted.
Perry and Gillespie are likely headed to Raptors 905 of the G League to start the season.