WEDNESDAY, 2:59pm: The Cavs expect that they’ll receive a signed contract from Wiggins on Thursday, tweets Jason Lloyd of the Akron Beacon Journal.
SUNDAY, 6:25pm: The Cavs are planning to sign No. 1 overall pick Andrew Wiggins to a contract in the coming week, a source close to the process tells Brian Windhorst of ESPN.com. Wiggins, of course, has been linked to the Kevin Love talks, but the hold up in the deal reportedly wasn’t related to those discussions.
The Cavs, sources say, are merely exploring options for using their estimated $1.4MM in remaining cap space before signing Wiggins to a contract that will pay him in the neighborhood of $5.5MM as a rookie. The Cavs and Timberwolves have been discussing a Love trade since the return of LeBron James, with sources saying that Minnesota is insistent on getting Wiggins back in any deal that sends Love to Cleveland. Once Wiggins signs, though, league rules stipulate that the Cavs must wait 30 days before trading him.
One option under consideration for the Cavs, sources say, is using their leftover salary-cap space to create long-term contracts for recent second-round picks Joe Harris and Dwight Powell. Signing Wiggins first would preclude such moves.
Once the Cavs exhaust their cap space and sign Wiggins, they are expected to officially sign free agent Mike Miller to a two-year, $5.6MM deal. The Cavs also remain interested in free agent Ray Allen, but they’ll only be able to offer him a $1.4MM veteran’s minimum contract.