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Reports: Wade to sign with Cavs Wednesday

INDEPENDENCE, Ohio -- As expected, future Hall of Famer Dwyane Wade will sign with the Cleveland Cavaliers on Wednesday once he clears waivers, according to multiple reports.

Wade will sign a one-year, $2.3 million deal with the Cavs, joining former Miami Heat teammate LeBron James with the three-time defending Eastern Conference champion Cavs.

"Anytime you get new pieces and new players it's always challenging, but I'm up for the challenge and so are the players," Cavs coach Tyronn Lue said at practice. "We will figure it out. It will be a good year for us."

After the Bulls traded Jimmy Butler on draft night, insiders around the league knew it was just a matter of time until Wade was on his way out as well.

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Chicago is beginning a long rebuild process and Wade had no aspirations of being a part of it.

Wade, 35, averaged 18.3 points, 4.5 rebounds and 3.8 assists per game last season, his first in Chicago after spending 13 years in Miami.