Report: Cavs and Wolves have a 'handshake agreement' in place for a Love-for-Wiggins deal

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The Cleveland Cavaliers and Minnesota Timberwolves have a "handshake agreement" in place for a trade involving No. 1 pick Andrew Wiggins and Timberwolves All-NBA forward Kevin Love, according to ESPN's Brian Windhorst.

In speaking on ESPN Radio, Windhorst dished out on the details:

The deal is done, but not done. The teams have agreed, but they can’t say they’ve agreed, and they can't agree because we’re in this weird moratorium period because you can’t trade Andrew Wiggins until the 23rd [of August].

Between now and then, which is 19 days, could some event happen, could a team come in with a trade that maybe Minnesota doesn't see? Yes. So in that sense, the deal isn't done. 

But essentially, before the papers have been signed, there is this handshake agreement that Kevin Love [would be traded] to the Cavaliers, Andrew Wiggins to the Timberwolves

Windhorst adds that the trade could expand to include Philadelphia 76ers forward Thaddeus Young being moved to Minnesota, and the Cavaliers' 2013 top overall pick Anthony Bennett being dealt to the Sixers.

Wiggins can't be moved until Aug. 23 because rules prohibit players from being traded within 30 days of signing a deal. Wiggins officially inked his rookie contract with the Cavaliers on July 24.

By moving Wiggins and Bennett for Love, who reportedly wants to test free-agency in 2015, the Cavaliers are gambling on their efforts to re-sign the power forward at the end of the season.