Cleveland Cavaliers Pursuing Charlotte Bobcats' Gerald Wallace?

According to earlier reports, the Cavaliers appear to be in the running to acquire the Charlotte Bobcats small forward Gerald Wallace.

Wallace is averaging 15.6 points, 8.2 rebounds and 2.4 assists for the Bobcats and can be a key contributor for a team lacking star quality players and scoring. 

It is believed the asking price of the Bobcats is an expiring contract and an unprotected first-round pick.

Obviously the Cavs will not give up the potential No. 1 overall pick in this year's draft, even though there is not much depth in this class.

Though The Cavs do have a $14.5 million trade exception from the LeBron James signing in Miami, and this could be a key advantage in discussions between the Cavs and Bobcats.

If the Cavs decide to give up their first-round pick in 2012 or 2013 though, the deal will probably go through.

Wallace has two years and $22 million left that runs through the 2012-2013 season.

The Cavs would be smart to use the trade exception now because if the NBA and Players Association do not reach a new collective bargaining agreement by the end of June, the Cavs would run the risk of having the trade exception expire during the lockout.

The Bobcats would probably also ask for the valuable expiring contract of Anthony Parker if a deal is made.

There are not many other star quality players left in the trade market, so pulling the trigger on the deal could be worth it for the Cavaliers.

Owner Dan Gilbert is committed to winning, and with a 10-46 record, the Cavs should make the deal to start the rebuilding process.