The Chicago Bulls and Dwyane Wade have reached a buyout agreement, according to a report from K.C. Johnson of the Chicago Tribune. This summer Wade had opted into his $24 million contract, but as a rebuild is imminent in Chicago, rumors of a buyout swirled all summer.
Earlier this week Bulls VP of Basketball Operations John Paxson made news when he said that buyout talks had begun, and that the team was more than willing to negotiate with Wade, but still had to keep their interests in mind. In a separate report from ESPN's Adrian Wojnarowski,
Sources: Cleveland, San Antonio and Miami are leaders for Dwyane Wade post-Bulls buyout. OKC could become factor too.
— Adrian Wojnarowski (@wojespn) September 25, 2017
">Cleveland, San Antonio and Miami are expected to be Wade's top choices once the buyout is official. As Wojnarowski points out, Cleveland is the "clear frontrunner" because of LeBron James, but Wade will likely not make an immediate decision on his landing spot. Per Wojnarowski, Wade gave back approximately $8 million of his salary in order to reach an agreement with Chicago.