The Dwyane Wade era in Chicago is officially over after just one season.
Beat reporter K.C. Johnson is reporting that the Chicago Bulls and Wade have reached an agreement on a buyout on his contract. The move will end Wade’s tenure in Chicago after just one season with the team.
The Bulls and Dwyane Wade have reached agreement on a buyout, per sources.
— K.C. Johnson (@KCJHoop) September 25, 2017
Wade was set to earn $23.8M this season with the Bulls but he’s giving back roughly $8M of that in his buyout. The move comes just a few months after the Bulls traded Jimmy Butler to the Minnesota Timberwolves, officially beginning their rebuild.
The guard and Chicago native spoke to Johnson about the situation:
“I just felt it was time for me, turning 36, that I want to be competing for a championship. I said when I got here, it was always a dream for me to play here. And getting that opportunity was special. And I can’t even say it wasn’t what everyone expected because we went to the playoffs. And trying to restore this franchise to respectability was our goal. The organization decided to go in a different direction, which I respect.”
ESPN’s Adrian Wojnarowski reported that the Cleveland Cavaliers, Miami Heat and San Antonio Spurs are the favorites to sign Wade.