Sources confirm Cavs may be closing in on Bobcats’ Wallace

The Cavaliers have been talking with Charlotte about dealing their $14.5 million trade exception to the Bobcats for forward Gerald Wallace, sources confirmed to FOXSportsOhio.com on Friday.

The Cavs are also supposedly pushing for a lottery-protected first-round pick in a potential deal first reported by Yahoo! Sports.

One Eastern Conference executive told FOXSportsOhio.com that the deal “appears to be far from final, but word is they are getting close.”

The executive, who asked for anonymity and is not employed by the Bobcats or Cavs, said he has not spoken with representatives from either team and is merely “going on what I’ve heard from other general managers.”

Another Eastern Conference GM said that even if Wallace isn’t traded to the Cavs, “I can practically guarantee (Charlotte) will trade him by the deadline. This whole thing seems to be initiated by the Bobcats’ desire to move Wallace.”