According to Yahoo Sports, the Cavaliers will send 2014 overall top draft pick Andrew Wiggins and last year's No. 1 selection, Anthony Bennett, to the Wolves. A protected first-round choice in 2015 will also head Minnesota's way in exchange for Love, a three-time NBA All-Star who has reportedly stated that he would opt out of his deal with the Wolves in 2015.
The Yahoo Sports report also states that Love will still opt out after the upcoming season, but will sign a new deal with the Cavaliers -- a five-year extension worth at least $120 million.
Speculation surrounding a trade for Love has been rampant since LeBron James re-signed with the Cavaliers last month.
However, the Cavaliers must wait until Aug. 23 to officially trade Wiggins. NBA rules stipulate that a draft pick cannot be dealt until 30 days after he signs his contract. Wiggins inked his deal on July 24.
Love averaged 26.1 points and 12.5 rebounds for the Timberwolves in 77 games last season. He has spent his first six NBA seasons with Minnesota and owns career averages of 19.2 points and 12.2 rebounds.
The Wolves were apparently also considering deals with Golden State and Chicago for Love.