"The Charlotte Bobcats have discussed a trade to send forward Gerald Wallace to the Cleveland Cavaliers, a league source told Yahoo! Sports.

The Cavaliers would use their trade exception to acquire Wallace, but have also pushed for a lottery-protected first-round pick for them to take on the two years and $22 million left on Wallace's contract through the 2012-13 season, the source said.

No deal is imminent, and the Cavaliers have until July 10 to use the $14.5 million trade exception created from the sign-and-trade with the Miami Heat for LeBron James. If the NBA and Players Association haven't reached 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 Cavaliers are in freefall, with an 11-game losing streak and an NBA-worst 8-30 record. They have had numerous discussions about absorbing a player into the exception, but are strongly considering the proposed Wallace deal."