Cavs will acquire Kevin Love from the Timberwolves

The Timberwolves and the Cavaliers have reached an agreement in principle for the trade that will bring Kevin Love to Cleveland in exchange of Andrew Wiggins, Anthony Bennett and and a protected 2015 first-round draft pick, according to 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.  No third team is involved in the Cavaliers-Timberwolves trade agreement.