Dwyane Wade has been formally placed on waivers by the Chicago Bulls, sources told The Vertical's Shams Charania.
Wade reportedly reached a buyout agreement with the Bulls Sunday for a rumored $15 million. The 35-year-old would now have two days to clear waivers and be free to sign with a team of his choosing.
Related: Ranking potential landing spots for Dwyane Wade
The Cleveland Cavaliers are believed to be frontrunners for his services.