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Dwyane Wade leaving Heat after 13 years to sign with Bulls

Heat free agent guard Dwyane Wade will reportedly agree to a contract with the Chicago Bulls.

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Miami Heat free-agent guard Dwyane Wade has informed the Chicago Bulls he will sign a contract with them, The Vertical’s Adrian Wojnarowski reports.

The Bulls must clear the requisite cap space to sign Wade to a deal reportedly worth around $48 million over two years. Wade met with the Bulls twice during his 2010 free agency and is a native of Robbins, Ill., in Chicago’s south suburbs. He turned down an offer from the Nuggets worth $52 million over two years. Ethan Skolnick of the Miami Herald reports the Heat’s initial offer to Chicago was worth around $40 million, and that Miami never increased to match other offers.

Bulls forward Mike Dunleavy has been informed he’s been traded to the Cleveland Cavaliers, K.C. Johnson of the Chicago Tribune reports. His contract will be absorbed into the trade exception the Cavs acquired by dealing Anderson Varejao.

The Bulls have also dealt guard Jose Calderon to the Lakers, Wojnarowski reports.

ESPN’s Marc Stein reported Brooklyn attempted to acquire Calderon, and that Milwaukee also looked to add Dunleavy.

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The Heat’s initial off-season moves were locking up Hassan Whiteside to a long-term max contract and courting Kevin Durant. Wade, who has spent his entire 13-year career with Miami and taken pay cuts on past contracts, was reportedly frustrated at how Miami prioritized its decisions. Wade is reportedly looking for a deal in the neighborhood of $50 million for two years.

The Nuggets, Bucks, Bulls and Cavs all emerged as reported and rumored suitors in the past several days. On Wednesday night, after Wade reportedly met with the Bucks, Nuggets and Heat during the day, reports surrounding Chicago gained steam.

Wade, 34, was selected by the Heat with the No. 5 pick in the 2003 NBA draft. He helped lead the Heat to championships in 2006, 2012 and 2013, and was voted NBA Finals MVP in 2006.

He has made 12 consecutive All-Star teams and holds career averages of 23.7 points, 5.8 assists and 4.8 rebounds.