Essentially it's like this: Cleveland can trade Wiggins straight up to Minny for Love. Both sides would do that. However, the salaries don't work. If they added Bennett or Thompson it would work, but Cleveland doesn't want to give up Wiggins and one of those other guys. So Cleveland needs to acquire about $5 million in unguaranteed contracts to fill in the salary requirements for a trade. Because you can always trade for minimum salary players, Cleveland will be looking for a lot of those. So Babb and Johnson make sense, but Bogans doesn't. They're probably willing to send of a second round pick or two to acquire the salaries they need.
The deal for Love would then be completed 60 days after they acquired their minimum salaries. It's also low-risk for Cleveland, because they don't lose much if the Love deal doesn't end up happening (as opposed to giving up Waiters to get Bogans, for example).