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REPORTS: Dwyane Wade and Bulls reach buyout agreement; Cavs front-runner to land him

The Chicago Bulls and Dwyane Wade have reached a buyout agreement, according to a report from K.C. Johnson of the Chicago Tribune. This summer Wade had opted into his $24 million contract, but as a rebuild is imminent in Chicago, rumors of a buyout swirled all summer.

Earlier this week Bulls VP of Basketball Operations John Paxson made news when he said that buyout talks had begun, and that the team was more than willing to negotiate with Wade, but still had to keep their interests in mind.

In a separate report from ESPN’s Adrian Wojnarowski, Cleveland, San Antonio and Miami are expected to be Wade’s top choices once the buyout is official. As Wojnarowski points out, Cleveland is the “clear frontrunner” because of LeBron James, but Wade will likely not make an immediate decision on his landing spot. Per Wojnarowski, Wade gave back approximately $8 million of his salary in order to reach an agreement with Chicago.

Ashley is a former basketball player who covers the Cleveland Cavaliers, Indians and high school sports for NEO Sports Insiders. She also covers the Cavs for SB Nation's Fear The Sword. Ashley is a 2015 graduate of John Carroll University and previously worked in political journalism. You can follow her on Twitter @AshleyBastock42

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