The Bulls and Dwyane Wade reached a buyout agreement, ending the 12-time All-Star's homecoming tour in Chicago after just one season. Wade, who was set to earn $23.8 million this season, gave about $8 million back to the Bulls and instead signed a deal with the Cleveland Cavaliers for $2.3 million.
This latest pay cut means Wade has left close to $32 million on the table throughout his career. He's spent 13 of his 14 seasons with the Miami Heat and was never the highest-paid player on the roster.
The pay cuts were worth it, though. Wade won three titles with the Heat and is an iconic figure in South Florida, even though last year's split between Wade and the Heat wasn't exactly amicable.
Wade will turn 36 years old this season, but he can still contribute to a team with championship aspirations. The Cavs, who have made the NBA Finals three years in a row, certainly qualify.
On top of that, Wade is good friends with LeBron James – the two entered the league together back in 2003, won championships and gold medals together with the Heat and U.S. Olympic team, respectively, and continue to hang out together during the offseason.
Wade averaged 18.3 points on 43.4 percent shooting with the Bulls last year. Even in a reduced role, that kind of production can help take a team to the next level.