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Report: Cavs' deal for Kevin Love finalized, includes agreement on 5-year, $120 million extension

By Marla Ridenour Published: August 7, 2014

The Minnesota Timberwolves have agreed on a trade that will send All-Star forward Kevin Love to the Cavs for Andrew Wiggins, Anthony Bennett and a protected 2015 first-round pick, Adrian Wojnarowski of Yahoo! Sports reported this morning.

The report says the Cavs have a “firm agreement” that Love will sign a five-year, $120 million contract extension to remain with Cleveland next summer.

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 Cavs remained the lone team in the running to acquire Love, who will team with LeBron James to make the Cavs the favorite for the 2014-15 NBA title.

Love pulled out of his obligations with USA Basketball last week.

On Wednesday, Cavs General Manager David Griffin called James “the best recruiter you could possibly have.”

While the Cavs cannot confirm the agreement, per league rules, Griffin said during the introductory press conference for Mike Miller and James Jones that the roster for this season was probably not finalized.

"James (Jones) talked about how important it is to try to win with the right kind of people. We’re going to continue to surround ourselves with those types of people," Griffin said. "I don’t know at any point that we’re going to say we’re done or that the roster’s complete. You’re always trying to get better and everybody’s always looking for an edge. We’re happy with where we are and we’re going to try to build to a more complete roster, if there is such a thing."

The agreement with the Timberwolves for Love, along with the return of James, the $90 million max contract signed by Kyrie Irving and the addition of Miller and Jones fulfill Griffin's prophecy of a "monumental" off-season for the Cavs. Griffin uttered that word at the June 27 press conference introducing Wiggins.

"It’s funny when I said monumental it was a complete slip-up and now I’m really grateful that I said that, I look like a visionary," Griffin said Wednesday..


 

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