There were reports at last years trade deadline that the Cavs turned down offers for Nance that included multiple 1st round picks. I seriously doubt we have the assets to acquire him. You'd likely need to offer an expiring contract and a couple of 1st round picks, and they may even turn that down.
https://raptorsrapture.com/2021/03/06/raptors-insane-price-larry-nance-jr-cavaliers/
It does seem hard to believe, but maybe things have changed with Mobley? They also have Love and are about to pay Allen. They do need to get out of this log jam but if I were them I wouldn't do it by dumping Nance.
I would agree with the notion that he's a positive asset, not negative on his contract.