Timofey Mozgov traded to Cleveland Cavaliers for two first rounders

The rebuild could begin in earnest in Denver.

ESPN's Marc Stein is reporting that the Cleveland Cavaliers and the Denver Nuggets are in "advanced discussions" to send center Timofey Mozgov to Cleveland for a first round pick and other assets.

Yahoo! Sports Adrian Wojnarowski tweeted that it would be for two first round picks:

Cleveland has agreed to a deal in principle to acquire Denver center Timofey Mogzgov for two first-round picks, league source tells Yahoo.

— Adrian Wojnarowski (@WojYahooNBA) January 7, 2015

Cleveland will send Denver two picks that it controls via Memphis and Oklahoma City, league source tells Yahoo. No other players in deal.

— Adrian Wojnarowski (@WojYahooNBA) January 7, 2015

Cleveland is absorbing Mozgov into an exception.

— Adrian Wojnarowski (@WojYahooNBA) January 7, 2015

Here are protections on Memphis pick: 1-5 and 15-30 in 2015, 1-5 and 15-30 in '16, 1-5 in '17 and 1-5 in 2018; unprotected in 2019

— Adrian Wojnarowski (@WojYahooNBA) January 7, 2015

Protections on Cleveland first-round to Denver via OKC: 1-18 in 2015, 1-15 in '16; 1-15 in 2017. After '17, it becomes two seconds.

— Adrian Wojnarowski (@WojYahooNBA) January 7, 2015

We'll update this post as more news comes in.

*Update*: The trade has been completed according to Yahoo! Sports