Just a couple days ago, the Cavs and ‘Wolves were said to have a “handshake agreement” on a deal sending Kevin Love to the Cavs in exchange for Andrew Wiggins, Anthony Bennett and a first-round pick. Now Yahoo’s Adrian Wojnarowski has confirmed the Love-to-Cleveland trade has been agreed upon, and Love has promised to sign an extension next summer.
It seems once the Love trade is completed on August 23, following the 30-day window after Wiggins signed his rookie contract, Love will go to Cleveland and Minnesota will receive Wiggins, Bennett and a protected first-round pick. There were rumors Philadelphia could act as a third team in the trade and include Thaddeus Young, but sources tell Yahoo there is no third team involved.
Perhaps the biggest development mentioned by Woj involves Love’s agreement with Cleveland to opt out next summer and sign a $120 million-plus max contract extension at that time, locking him down as a Cavs forward through his prime.
Love told Timberwolves management this summer he would opt out next summer and leave as a unrestricted free agent next summer, which is why he became such a hot trade commodity this summer. The ‘Wolves didn’t want to lose him for nothing. Now they’re getting the last two No. 1 picks in the NBA Draft, plus a future first-round pick. Here’s Yahoo:
The Minnesota Timberwolves have reached an agreement in principle to send All-Star forward Kevin Love to the Cleveland Cavaliers for Andrew Wiggins, Anthony Bennett and a protected 2015 first-round draft pick, league sources told 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, cannot be traded until one month following 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 terms of the deal have apparently been agreed upon for weeks, but Love and both teams plan to remain mum until the deal is officially announced in 16 days.
Sources also tell Yahoo part of Cleveland’s motivation for making the deal was the belief Chicago would acquire him in a trade, thereby creating a significant obstacle for them in the Eastern Conference.
The ‘Wolves are still looking to unload the contracts of J.J. Barea, Luc Mbah a Moute and Alexey Shved, but they won’t be included in any deals league sources told Yahoo.