Dwyane Wade is nearing a commitment to sign with the Cleveland Cavaliers one he clears waivers.

Wade is expected to finalize his decision as soon as Wednesday. Wade will be eligible to sign a one-year, $2.3 million veteran's minimum contract with the Cavaliers.

Wade agreed to a buyout with the Chicago Bulls on Sunday.

LeBron James and Wade were teammates for four seasons with the Miami Heat.

Wade also considered the Oklahoma City Thunder, San Antonio Spurs and Miami Heat. Wade hasn't ruled out a future return to the Heat but prefers to join a contender.