Dwyane Wade agrees to one-year deal with Cavaliers

Dwyane Wade and the Cavaliers have agreed to a one-year deal. | Charles Rex Arbogast/Associated Press

According to multiple reports, Dwyane Wade plans to join good friend LeBron James and the Cleveland Cavaliers.

The Bulls and Wade reached a buyout agreement Sunday that will pay Wade $16 million of the $23.8 million he opted in for. With Wade reportedly getting the veteran’s minimum of $2.3 million from the Cavaliers, he’ll make about $18.3 million this season.

That’s not a bad haul for the 35-year-old, who wanted nothing to do with the beginning of the Bulls’ rebuild.

Wade, a three-time NBA champion, now will have a chance to help James, as both future Hall of Famers look for a fourth ring. They won two together in their four seasons with the Heat.

“I want to say Dwyane was very professional entirely through his time here,’’ Bulls vice president of basketball operations John Paxson said Monday. “We have nothing but good things to say about him — professional, great player, can still play the game.

“We wish him well, and we’re happy he’s in a good place and will find a situation that’s best for him. We’re happy now that we can again clearly define the direction we’re going.’’

Paxson also downplayed the idea that Wade was not a good fit for the Bulls’ young players.

“They were influenced by Dwyane — his professionalism, his Hall of Fame career, they took notice of that,’’ Paxson said. “The bottom line is we chose a different path.’’

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Email: jcowley@suntimes.com