Fasten your seat belts NBA fans, the trading season may be getting under way.
The deal will send $10 million of the trade exception the Cavaliers received for LeBron James to Charlotte for Gerald Wallace and a lottery protected first round draft pick.
The Cavaliers are pushing for the first round pick to be included because they will be taking on Wallace's $9.8 million this year, $10.6 million next year, and a player option for $11.4 million in the 2012-2013 season.
The rumored trade of Wallace to Cleveland is interesting because he has made comments that he would like to go to a contender, and not a team in rebuild mode.
If you are a close follower of any of my articles, I have begged for the Cavaliers to acquire Wallace for the past three seasons.
Wallace's excellent defense, and 16.4 points per game would be a welcome addition to the Cavaliers' small forward position which has been atrocious since LeBron James' departure.
Wallace would provide the Cavaliers with a lock-down defender to put on opposing team's best players.
The only concern that I have about this trade is that it may impede the rebuilding process by adding salary to the Cavaliers' current cap situation for the future.
Most people feel that the correct way to rebuild the Cavaliers is to trade off the veterans, get expiring contracts and draft picks in return and go from there.
However, if the organization feels that they will not be able to entice free agents to come to Cleveland, then this course of action may be the best for the future.
Stay tuned to this situation, because it could be the beginning of many moves for the Cleveland Cavaliers over the next six weeks.