In the trade, which was first reported by Yahoo Sports, Cleveland will send forward Carrick Felix, a future second-round pick and $1 million to Utah for guard John Lucas and forwards Malcolm Thomas and Erik Murphy.
The three players Cleveland will receive in the trade are on non-guaranteed contracts.
Yahoo Sports reported earlier Tuesday that the Cavaliers are pursuing non-guaranteed contracts to include in a package for Love. Minnesota could then release the players on those contracts for salary cap relief.
Cleveland could also use the three players in other packages to set up a trade for Love.
The Timberwolves are said to be interested in unloading J.J. Barea and Kevin Martin, who together have four years and more than $25 million remaining on their contracts, in a potential Love trade.
Wiggins, the No. 1 pick in the 2014 draft, could sign his rookie contract with the Cavaliers as soon as Wednesday. Rules in the NBA's Collective Bargaining Agreement stipulate that a trade involving Wiggins could not be consummated for 30 days after he signs.
Other potential landing spots for Love include Golden State, Denver and Chicago.
The Cavaliers reportedly have also been trying to acquire an experienced center.
Love, 25, is reportedly intent on leaving Minnesota if the team does not trade him before the end of next season, when he can opt out of the final year of his contract to become an unrestricted free agent. The three-time All-Star averaged 26.1 points and 12.5 rebounds a game last season as the Timberwolves won 40 games and missed the playoffs.
Utah's trading John Lucas, Malcolm Thomas and Erik Murphy to Cleveland for Carrick Felix, future 2nd and $1M, sources tell Yahoo. — Adrian Wojnarowski (@WojYahooNBA) July 22, 2014
- Chris Johnson