Report: Dwyane Wade, Bulls Reach Buyout Agreement

Dwyane Wade had opted-in to the final year of his contract with the Bulls in June.
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Dwyane Wade and the Chicago Bulls have reached an agreement on a buyout on the final year of Wade's contract, K.C. Johnson of the Chicago Tribune reports.

The Cavaliers, Spurs and Heat are the front runners to land the 12-time All-Star, and the Thunder could also play a factor in his decision, Adrian Wojnarowski of reports. Wojnarowski also reports that Wade gave back approximately $8 million of the $23.8 million he was going to make this season to reach the agreement.

Wade spent one year in Chicago after 13 years in Miami. Wade had opted in for the last year of his contract with the Bulls in June right before Jimmy Butler was traded to Minnesota.

Wade, 35, averaged 18.3 points, 4.5 rebounds and 3.8 assists last season.