Kevin Love

The Cavaliers will acquire forward Kevin Love from the Timberwolves, according to a report.

(Kelley L Cox-USA TODAY Sports)

LeBron James and the Cavaliers went from title contenders to probable favorites -- they're going to get star forward Kevin Love from the Minnesota Timberwolves, according to Yahoo's Adrian Wojnarowski.

It's a trade agreement only because it involves 2014 No. 1 overall pick Andrew Wiggins, who can't be dealt until Aug. 23. Also heading to the Timberwolves: Anthony Bennett, the top choice in the 2013 draft, along with a 2015 first-round pick.

The other key to the deal, Wojnarowski reported, will be Love opting out of his contract in 2015 and re-signing with Cleveland for five years and "$120 million-plus."

"The precise deal terms have been agreed upon for weeks, but the teams and Love plan to stay silent about the particulars until the trade is announced in 16 days," Wojnarowski wrote. "Part of the Cavaliers' motivation in making the deal for Love was a belief Love would have ended up with the rival Chicago Bulls in a trade and created a significant obstacle in the Eastern Conference, sources said."

The Sixers aren't involved, despite rumors pointing to Philadelphia sending forward Thaddeus Young to the Timberwolves.

The Cavaliers will now have a Big Three of their own with James, Love and point guard Kyrie Irving. The move also frees up some playing time for guard Dion Waiters. Though they're mortgaging some of their future by dealing the past two top NBA draft picks, the Cavaliers' message is clear: With James in town, Cleveland wants to win now.