Dwyane Wade
Mar 13, 2017; Charlotte, NC, USA; Chicago Bulls guard Dwyane Wade (3) signs autographs for fans after the game against the Charlotte Hornetsat Spectrum Center. The Bulls won 115-109. USA TODAY Sports/Jeremy Brevard

The Cleveland Cavaliers are in prime position to sign veteran shooting guard Dwyane Wade, who came to terms on a contract buyout with the Chicago Bulls on Monday. Though the San Antonio Spurs, Miami Heat and Oklahoma City Thunder are also reported suitors, Wade is most likely sign with the Cavs to re-unite with good friend LeBron James.

According to Adrian Wojnarowski of ESPN, Wade is likely to join Cleveland after clearing waivers. A day ahead of training camp for the new NBA season, Wade agreed to leave approximately US$8 million (AU$10.4 million) on the table to reach a buyout resolution with Chicago. Previously, the Bulls front office was reluctant to buyout Wade and preferred to trade his US$23.8 million (AU$29.8 million) salary.

James has been trying to re-unite with Wade for a few years. Last offseason, James recruited Wade to join Cleveland but the Cavs front office was strapped with salary-cap issues. Wade joined hometown franchise Chicago Bulls on a two-year deal but analysts didn't expect the partnership to endure too long. With the Bulls already trading star Jimmy Butler, the move to buyout Wade confirms their plans to hit the reset button.

Dwyane Wade expects to make quick decision

Wade told Associated Press Sunday evening that he wished to make a swift decision. "I'm going to take tonight and some of tomorrow and speak to the teams or players that are on my list and go from there. My decision is a pure basketball decision, and I'll make the one that fits me best at this point in my career and with what I feel I have to offer a team that needs what I have to offer.''

The Miami Heat, among all suitors, have the most money to offer to Wade. While Pat Riley's team can offer the Mid-Level Exception worth US$4.2 million (AU$5.2 million), the Spurs and Cavs can offer Wade US$3.3 million and US$2.5 million respectively. The Thunder, who acquired Carmelo Anthony in a blockbuster trade over the weekend, would only be able to offer the minimum salary.

Dwyane Wade, a three-time NBA champion and 2006 Finals MVP, could prove to be a critical cog in Cleveland's pursuit of a championship. Though the 36-year-old is no longer an All-Star level player, Wade averaged 18.3 points and 4.5 rebounds last season from less than 30 minutes per game.