The Minnesota Timberwolves have reached an agreement in principle to trade Kevin Love to the Cleveland Cavaliers for No. 1 overall pick Andrew Wiggins, 2013 No. 1 overall pick Anthony Bennett and a protected 2015 first-round draft pick, according to Adrian Wojnarowski of Yahoo Sports.
Cleveland is making the deal with Minnesota with a firm agreement Love will opt out of his contract in 2015 and re-sign with the Cavaliers on a five-year, $120 million-plus contract extension, league sources told Yahoo Sports.
The deal cannot be finalized until Aug. 23, because Wiggins, the No. 1 overall pick in the 2014 NBA draft, cannot be traded until one month after the signing of his rookie contract. The two teams have agreed to the deal, but neither would have recourse if the other decided to pull out of the arrangement before it can be formally completed this month. No third team is involved in the Cavaliers-Timberwolves trade agreement.
The precise deal terms have been agreed upon for weeks, but the teams and Love plan to stay silent about the particulars until the trade is announced in 16 days, sources told Yahoo Sports.
Love will join LeBron James and Kyrie Irving in Cleveland that will instantly make the Cavaliers a frontrunner to win the NBA championship.
Love, 25, is a three-time NBA All-Star. He averaged 26 points and 12.5 rebounds for the Timberwolves last season.