Dwyane Wade and Chicago Bulls Reach Contract Buyout Agreement

Dwayne Wade officially became a free agent after he reached a buyout agreement with the Chicago Bulls.

Photo by Stewart Cook/WWD/REX/Shutterstock (9064813nr)

After just one season with the Bulls, Dwyane Wade is packing his bags and leaving Chicago. It was reported by K.C. Johnson, who covers Chicago Bulls for Chicago Tribune, that Chicago Bulls and Dwayne Wade reached a contract buyout agreement on Sunday night. According to sources, Wade gave up around $9 million out of the $23.8 million he supposed to make in the next season.

After the Bulls traded Jimmy Butler to Minnesota Timberwolves in exchange for Zach LaVine, Kris Dunn and the rights to Lauri Markkanen while waiving Rajon Rondo it was evident that the team is headed for rebuilding. While Dwayne Wade could have provided valuable mentorship to Bulls’ young squad, it wasn’t the thing he agreed upon when he left Miami Heat. Wade left the Heat after winning 3 NBA championships saying he felt underappreciated by the by Heat’s president Pat Riley. He chose the Bulls because Chicago is his hometown and he was attracted by the possibility of playing alongside Rondo and Butler. The Bulls obviously had other ideas, and they didn’t feel Wade was a good fit for their rebuilding project. Wade on the other hand, surely didn’t want to spend the rest of his career with the team that doesn’t stand any chance to contend for the title.

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.” – said Wade in an interview with Chicago Tribune.

Wade also posted a tweet on his profile saying: “A Dream was fulfilled!!! Thank you Chicago!!!”