Report: Cavs have wink-wink $120 million deal for Love

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Woj dropped one of his patented bombs this morning:

The Minnesota Timberwolves have reached an agreement in principle to send All-Star forward Kevin Love to the Cleveland Cavaliers for Andrew WigginsAnthony 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 in the 2014 NBA draft, cannot be traded until one month after the signing of his rookie contract.

I was expecting a more complex deal, one with a 3rd team that would allow Minnesota to shed some additional salary (Kevin Martin and JJ Barea), but maybe Flip Saunders was plain worn down from 2+ months of negotiations.

Chris Broussard heard that Ray Allen would sign with Cleveland should they secure Love.

So… what does this mean for the Eastern Conference? Some have the Cavs in the Finals for the next 5 years. Others will remind you that Cleveland has some mediocre defensive players and a rookie head coach.

All I know for sure is that I’ve found a new team to hate. Wouldn’t you love to see Miami upset the Cavs in the 1st round of the playoffs?

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