Dwyane Wade reaches buyout agreement with Chicago

Heat, Thunder favorites in Vegas to land Dwyane Wade following buyout from Bulls

Wade was due $23.8 million this season, an option he picked up fully intending to play out the season with then-teammate Jimmy Butler.

After the Bulls reached an agreement with Nikola Mirotic on a new two-year deal to keep Mirotic around for at least one more season, the Bulls have apparently come to terms on buying out the rest of Wade's contract.

"A source close to James expects Wade to ultimately choose Cleveland, and ESPN is reporting the Cavs are the "clear" favorite to get him". Before joining the Bulls last offseason, a number of reports had Wade meeting with Cavaliers management.

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According to ESPN's National Basketball Association insider, Adrian Wojnarowski, multiple teams are interested in the 35-year-old's services, including a potential reunion with ex-Miami teammate LeBron James in Cleveland. Cleveland is the early favorite, but it's believed Wade could take his time in making a final decision.

The Los Angeles Lakers are going into training camp with the maximum 20 players but that doesn't mean they are completely done with setting the roster.

Wade reportedly returned $8 million of his salary to the Bulls in the buyout agreement.

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