Per Cleveland.com's Joe Vardon, the Cavs won't trade Love if James signs with another team.
"There is no reason to go backwards," one source told Vardon.
This echoes a June 21 report from ESPN.com's Dave McMenamin that the Cavs have interest in keeping Love regardless of whether James stays.
"Anything is possible," Love told reporters about his future after the NBA Finals. "People have been saying that for the past four years. I knew that question would come, but I like to be here. I've always said that. Always wanted to win here."
Vardon reported Friday that James declined to exercise his $35.6 million option with the Cavaliers for next season and noted the four-time NBA MVP has a "strong" interest in joining the Los Angeles Lakers.
Love is owed $49.7 million over the next two years, per Spotrac. The five-time All-Star had a strong showing in 2017-18, posting his highest shooting percentage (45.8) and three-point percentage (41.5) in four years with Cleveland.