re: Official Pelicans Free Agency Thread(Updated with transactions)

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The Minnesota Timberwolves have reached an agreement in principle to send All-Star forward Kevin Love to the Cleveland Cavaliers for Andrew Wiggins, Anthony 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. The two teams have agreed to the deal, but neither would have recourse if the other decided to pull out of the arrangement before it can be formally completed this month. No third team is involved in the Cavaliers-Timberwolves trade agreement.

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LINK

So unless someone comes along with a better offer, or Kevin Love injures himself bowling in the next few weeks, it's done. There's been some speculation around turning Bennett into Thadeus Young, but I think even if that happens we still leapforg Minnesota in the playoff race as they go into semi-rebuild mode.