The report says the Cavaliers have a “firm agreement” that Love will sign a five-year, $120 million contract extension to remain with Cleveland.
The trade cannot be announced until Aug. 23, one month after Wiggins signed his rookie contract. Wiggins was the first overall pick in this year’s NBA Draft.
In recent days, reports said the Cavaliers remained the lone team in the running to acquire Love, who will team with LeBron James to make the Cavs a top contender for the 2014-15 NBA title.
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