Yahoo!Sports reported this morning the Cavaliers have reached a "firm agreement" from Kevin Love that he will opt out of his contract next summer and is willing to re-sign a five-year, $120 million-plus contract extension then to stay in Cleveland.
According to Yahoo!, the Wolves and Cavs have reached this agreement in princple on a trade that would send Love for Wiggins, 2013 No. 1 pick Anthony Bennett and a protected 2015 first-round pick, although I'm told the particulars beyond a Love-for-Wiggins swap could change between now and Aug. 23, the first day a trade officially can be made.
The Wolves, according to a league source, gave the Cavs permission weeks ago to talk with Love and his representatives.
A trade would pair Love with LeBron James and Kyrie Irving and immediately makes the Cavaliers a title contender while giving the Wolves another athletic running mate to pair with Ricky Rubio, and quite possibly a future superstar if Wiggins develops as many scouts expect.
The trade, by league rules, can't be officially completed until 30 days after Wiggins signed his rookie contract. That's Aug. 23, which means there's still two weeks for one side or the other to change their mind.
As of now, there is no third team involved in the deal, although there is a possibility the Wolves could strike a separate deal with Philadelphia for veteran forward Thaddeus Young.
Discussions about involving another team continue.
That trade would not, at this point, involve swapping Bennett for Young, I'm told.
The Wolves probably would prefer to send the first-round pick they'll receive from Cleveland to Philadelphia in exchange for Young, who, like Love, can opt out of his contract in July 2015.
The Wolves also are seeking to send the expiring contracts of J.J. Barea and Luc Mbah a Moute in the trade and also might include a young player in the deal -- perhaps Shabazz Muhammad -- if needed to complete the deal.
No trade can be finalized until Aug. 23, which is 30 days after Wiggins signed his rookie contract that will pay him $5.5 million this coming season.
He needed to sign that contract so the Wolves and Cavs could apply his $5.5M salary in the deal and make the money work according to the league's salary-cap rules.
That coincides with the opening days of the Minnesota State Fair, which would be the logical place to unveil their new players sometime that next week, wouldn't it?.