After agreeing to buyout, the Cavaliers are the favorites to sign Dwyane Wade

CHICAGO, IL - NOVEMBER 30: Dwyane Wade #3 of the Chicago Bulls passses next to Brandon Ingram #14 of the Los Angeles Lakers at the United Center on November 30, 2016 in Chicago, Illinois. The Lakers defeated the Bulls 96-90. (Photo by Jonathan Daniel/Getty Images)
CHICAGO, IL - NOVEMBER 30: Dwyane Wade #3 of the Chicago Bulls passses next to Brandon Ingram #14 of the Los Angeles Lakers at the United Center on November 30, 2016 in Chicago, Illinois. The Lakers defeated the Bulls 96-90. (Photo by Jonathan Daniel/Getty Images)

NBA Rumors: After agreeing to a buyout with the Chicago Bulls, the Cleveland Cavaliers are the heavy favorites to sign Dwyane Wade

Dwyane Wade is officially a free agent.

Late Sunday night, Dwyane Wade and the Chicago Bulls agreed to a buyout. Wade agreed to give back $8 million of his $23.8 million salary for the 2017-18 NBA season in order to hit the open free agent market days before NBA training camps officially open.

According to ESPN’s Adrian Wojnarowski, the Cleveland Cavaliers, Miami Heat and San Antonio Spurs are the current favorites to land the services of the perennial all-star. Woj adds that the Oklahoma City Thunder could join the party late.

"[via ESPN]The Cleveland Cavaliers, San Antonio Spurs and Miami Heat are leaders for Wade once his buyout becomes official, sources told ESPN’s Adrian Wojnarowski.Oklahoma City, which just acquired Wade’s friend Carmelo Anthony in a trade, could also have interest, sources told Wojnarowski."

It should be noted that a couple weeks ago Wade, while addressing reporters, hinted at the idea that he wanted to play for a contender again before the end of his career. If that is indeed the case, that leaves the impression that the Cavs, and potentially Spurs, might have some sort of edge ahead of a team like the Miami Heat.

With that said, the chase for Wade is pretty clear.

LeBron James will be blowing up his phone until he makes a decision. In fact, he might be on the phone right now with Dwyane. The same could be said for Carmelo Anthony, who recently was traded to the Oklahoma City Thunder.

At the same time, I’m sure Udonis Haslem will be hitting up Wade, if he already hasn’t. Although, when it comes to the Heat, there’s some other complicated issues that need to be worked out.

Must Read: Oklahoma City Thunder: A Real Threat In The West?

For one, we don’t even know what the relationship is currently between Wade and Pat Riley. The wounds might be too fresh. But that’s not even the biggest hurdle. Miami just paid Dion Waiters big-time starter money. Are they going to just push him aside to start Wade? Doubtful.

That complicates things further, especially if a team like the Cavaliers are offering a starting spot.