According to the Vertical's Adrian Wojnarowski, Wade is set to join the Bulls after spending 13 seasons with the Miami Heat.
The Dwyane Wade two-year, $47.5M deal with Chicago includes a player option, league sources tell @TheVertical.— Adrian Wojnarowski (@WojVerticalNBA) July 7, 2016
Earlier Wednesday, Wade was involved with acrimonious negotiations with Miami management, who also had reportedly tried to pursue Kevin Durant before he signed with the Golden State Warriors on Monday.
The 34-year-old guard reportedly balked at a two-year, $40 million deal by the team who drafted him in 2003. He also was reportedly upset with Miami making re-signing Hassan Whiteside and trying to lure Kevin Durant from Oklahoma City priorities.
Wade reportedly was seeking at least $50 million and the Bulls were willing to meet the demands of the Chicago native.
Wade will join a reconfigured Chicago roster under second-year coach Fred Hoiberg. The Bulls dealt Derrick Rose to the Knicks a day before the draft and signed point guard Rajon Rondo to play alongside Jimmy Butler.
According to the Vertical, the Bulls have a deal in place to trade Dunleavy to the Cleveland Cavaliers, who will reportedly use part of Anderson Varejao's $9.6 million trade exception to absorb Dunleavy's $4.8 million contract. The Vertical also reported that the Bulls will trade Calderon to the Los Angeles Lakers
In 855 regular season games with the Heat, Wade averaged 23.7 points and shot 48.8 percent. He averaged 19 points in 74 games last season after missing a combined 48 contests due to various injuries the previous two games.
In 166 postseason games, Wade averaged 22.8 points, including 28.4 points during Miami's first championship run. In his last game with Miami in Game 7 of the Eastern Conference semifinals at Toronto, he scored 16 points in a 116-89 loss.