From CBSSports.com: The Summer of Love might be over soon. Adrian Wojnarowski of Yahoo Sports is reporting the Minnesota Timberwolves have reached an agreement with the Cleveland Cavaliers to send Kevin Love to Cleveland in exchange for Andrew Wiggins, Anthony Bennett, and a protected 2015 first round pick. In addition to the agreement in principle, Cleveland has a "firm agreement" that Love will opt out of his contract in 2015 and agree to a five-year, $120 million-plus deal with the Cavs.
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.
This is huge for both franchises. Newly signed Cavalier LeBron James gets one of the 10-12 best players in the NBA next to him for the next six seasons, and the Wolves get to jump start their rebuilding process with the No. 1 pick in one of the most anticipated drafts in years. Wiggins immediately gives the fan base something to be excited for, even after trading away a franchise player.
The Cavaliers and Wolves can't make this trade until August 23 because Wiggins can't be traded until a full month after signing his rookie contract.
For Cleveland, they should become the frontrunners in the Eastern Conference with the Chicago Bulls nipping at their heels, assuming Derrick Rose is healthy. The Cavaliers will have to fill out the roster and figure out some defensive role players to plug in. They also need Anderson Varejao to be healthy this season. But they have a brilliant core of LeBron, Love, Kyrie Irving, Tristan Thompson, and Dion Waiters moving forward.
The Wolves start their rebuilding plan with the previous two No. 1 picks in Wiggins and Bennett. The protected 2015 pick could be the pick Miami owes the Cavaliers (top 10 protected), the pick the Grizzlies owe the Cavs (top 5 and 15-30 protected), or the pick the Cavs owe the Bulls (top 10 protected and Chicago can swap picks with Cleveland). The Wolves have a core of Ricky Rubio, Wiggins, Zach LaVine (No. 13 pick), Gorgui Dieng, Shabazz Muhammad, and Nikola Pekovic.