Kevin Love

The talked-about trade that would send Kevin Love to the Cleveland Cavaliers is reportedly being finalized.

According to ESPN.com, the Minnesota Timberwolves reached an agreement Thursday (August 7) to trade Love to the Cavs for #1 overall pick Andrew Wiggins, its 2013 #1 overall pick Anthony Bennett and a protected 2015 first-round draft pick.

However, the actual transcation cannot be finalized until Aug. 23, because draft picks cannot be traded until 30 days after signing a new contract. Wiggins signed a rookie contract on July 24.

According to Yahoo! Sports, Love helped seal the deal by committing to re-sign with Cleveland next summer for five years and $120 million-plus after opting out of his contract.

Since James returned to the Cavs, Love has said that he’d love to make a long-term commitment to Cleveland to play alongside the NBA star.

The deal will create a new “Big 3” in Cleveland, uniting Love and James with All-Star Kyrie Irving.