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What was talked about since the minute All-Star forward LeBron James decided to rejoin the Cleveland Cavaliers and what was confirmed anonymously in early August finally is a done deal.

The Cavaliers acquired forward Kevin Love from the Minnesota Timberwolves, and the Cavaliers sent 2014 No. 1 overall draft pick Andrew Wiggins and 2013 No. 1 overall draft pick Anthony Bennett to the Timberwolves.

The Philadelphia 76ers also were involved in the trade, sending Thaddeus Young to the Timberwolves for guard Alexey Shved and forward Luc Mbah a Moute, along with the rights to the Miami Heat's 2015 first-round pick through the Cavaliers.

The deal was finally and formally announced by the teams Saturday. The Cavs scheduled a news conference with Love for Tuesday.

"Kevin joining the Cavaliers represents a very special and unique opportunity for our team. At only 25, Kevin has already firmly established himself as one the NBA's elite players and his talent, versatility and fit are major parts of our team's vision for success," Cleveland GM David Griffin said in a statement. "We want to also wish Andrew Wiggins and Anthony Bennett the best as they will continue the start of their careers in Minnesota. They are both outstanding young men that have great potential on the court and long, very successful careers ahead of them."

Saturday was the first day Wiggins could be traded following the league-imposed 30-day grace period after signing his rookie contract July 24. But USA TODAY Sports reported the tentative deal weeks ago and the final version involving the 76ers on Thursday.

The Cavaliers were already a strong contender to win the Eastern Conference, but adding Love to James and point guard Kyrie Irving gives the Cavaliers three All-Stars in the starting lineup and makes them a strong favorite to win the NBA championship.

Add young shooting guard Dion Waiters and forward Tristan Thompson to proven veterans such as Anderson Varejao and NBA champions Mike Miller, James Jones and Shawn Marion. They give Cleveland a deep and versatile team.

James is thrilled to have Love on his team. Two weeks ago at his charitable foundation's annual event in Akron, Ohio, James talked about the prospect of Love joining the Cavaliers.

"If he comes aboard, I can tell you I'm going to be very excited to have him," James said before the announcement. "He's one of those guys who – I don't care about the 26 (points per game) and 12 (rebounds per game), I care about the basketball IQ. His basketball IQ is very, very high.

"I'm looking forward to it. Hopefully it happens. Hopefully everything is done right from a league rules standard. But it's a great piece."

But James cautioned it may take time for the Cavs to develop and become championship ready, just as it took time for the 2010-11 Heat to find their way.

"There's not many guys on our roster that's done some great things," James said in Akron two weeks ago. "So I'm going to have teach and lead and inspire those guys. … It's still going to be a process. Even in my first year in Miami we went through a process and some tough times. …

"Even with the veterans that we brought in and even if we're able to acquire Kevin Love two weeks from now, it's still going to be a process. I know that firsthand. It was a process when I was here in Cleveland to get to the Finals in '07. … It's always a process each and every year. It will be a challenge for us. In order to be successful, you've got to have some pitfalls."

Plus, the Cavaliers have a new coach, David Blatt, who has had a successful career in Europe but has never coached in the NBA.

While the Timberwolves are rebuilding, they are intent are on fielding a competitive team. Timberwolves President and coach Flip Saunders and general manager Milt Newton are shaping the team in their vision.

Wiggins has the upside to be a superstar, while Bennett disappointed as a rookie but is in much better shape. Young, meanwhile, gives them a proven scorer who averaged 17.9 points a game last season as the 76ers' leading scorer.

The Timberwolves have a young nucleus: Wiggins, 19; Bennett, 21; Young, 26; Ricky Rubio, 23; Chase Budinger, 26; rookie Zach LaVine, 19; Gorgui Dieng 24; Shabazz Muhammad, 21. Nikola Pekovic, Mo Williams and Young give the Timberwolves experience.

The Timberwolves also get a $6.3 million trade exception, which can be used to allow them to add salary in a trade even if it puts them over the cap.

The 76ers made the trade with the intention of getting more future assets, a strategy employed by 76ers President Sam Hinkie at perhaps unseen levels over the past few seasons. Mbah a Moute and Shved have expiring contracts to free up salary cap space for next offseason.

For the Timberwolves, this trade is about the future.

For the the Cavaliers, this trade is about the present and winning a championship as quickly as possible.

GALLERY: Kevin Love through the years

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