The Cleveland Cavaliers reportedly are interested in Memphis Grizzlies forward Tayshaun Prince.  Free agent Ray Allen, meanwhile, reportedly is leaning toward signing with the Cavaliers in February.

With most of the league becoming eligible to be traded on Dec. 15, ESPN's Brian Windhorst believes the Cavaliers will be active between then and February.

"I expect the Cavs to make a trade between Dec  15-Jan 10 with their trade exception included," Windhorst said, via ESPN.  "... I've heard there's been interest from the Cavs in Tayshaun Prince, who's fallen out of the rotation in Memphis."

Cleveland has a $5.28 million trade exception from the Keith Bogans deal.  As ESPN's Nick Borges pointed out, the exception isn't enough to land Prince's expiring $7.70 million contract on its own.  It's also uncertain how much Cleveland would be willing to fork over for the 34-year-old veteran, especially since he will become an unrestricted free agent in the summer. 

The problem with waiting to pursue Prince in the summer is 1) Cleveland needs to bolster their depth at the 3-spot now, and 2) because Cleveland is over the luxury tax threshold, the most they could offer Prince as a free agent is a pro-rated minimum deal, which he may not have interest in.

Cleveland purportedly is also trying to sign Allen, whom they believe can add experience and depth at the 2-spot.  While the Cavaliers are still considered the frontrunner for Allen, he reportedly won't make a decision about returning until sometime in February.

"Hearing Ray Allen is telling teams 'talk to me in January," ESPN's Ryen Russillo tweeted Friday, "(he) will make a decision in February.  Cavs still the favorite."

Allen signing in February limits the wear-and-tear on his body and would still allow him to be eligible to play in the postseason for whatever team he signs with.  While the Cavaliers can only offer him a minimum contract, the chances of winning another NBA title would likely stamp out any monetary issues.

Other teams expected to pursue him include the San Antonio Spurs and the Los Angeles Clippers.  The Washington Wizards were at one point interested in Allen, but that may not be the case anymore with the solid production this year from Garrett Temple.