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Wade signs, heads to first Cavs practice

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Dwyane Wade has cleared waivers and signed a one-year, $2.3 million contract with the Cleveland Cavaliers, as expected, and will report to the team's evening practice Wednesday, ESPN reported.

Wade agreed to a contract buyout with the Chicago Bulls earlier this week.

The Cavs released JaCorey Williams from their training camp roster to make room for Wade. The Cavs will have to waive or trade a guaranteed contract to make room for Wade before final rosters are due in mid-October.

Cavs star LeBron James talked excitedly about the addition of Wade during Wednesday's practice. (Amico Hoops report.)

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“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 Tuesday. “We will figure it out. It will be a good year for us.”

Wade, 35, averaged 18.3 points, 4.5 rebounds and 3.8 assists in 60 games with the Bulls last season.