Yahoo!'s Adrian Wojnarowski reports that not only is a trade to send Kevin Love to the Cavaliers done, but that Cleveland has a "firm agreement" that the All-NBA big man will opt out of his contract in 2015 and re-sign with the team long-term.
That off-the-books agreement clears the way for Cleveland to send No. 1 overall pick Andrew Wiggins to the Minnesota Timberwolves. Woj reports that the Wolves will also pick up 2013 No. 1 pick Anthony Bennett and a protected 2015 first.
Love will eligible for a contract starting at 30 percent of the 2015-16 salary cap when he re-signs in 2015. LeBron James and Kyrie Irving are also slated to be on max deals at that time. The deal gives Cleveland one of the most powerful offenses in the league. How the defense will fare under first-time NBA coach David Blatt remains to be seen.
ESPN's Brian Windhorst first reported that a Love trade had been agreed to in principle. The deal can't be completed until August 23 due to NBA trade rules. Players cannot be traded within 30 days of signing a contract, and Wiggins signed his rookie deal in late July.
Recent reports have suggested that Bennett could be on his way to the Sixers with Thaddeus Young heading to Minnesota. But Woj reports there is currently no third team involved in the Love deal.
The Timberwolves have not made the playoffs since 2004. The Cavaliers, who of course added LeBron James this offseason, have not made the playoffs since 2010. That should change for at least one of those teams in 2015.