On Wednesday afternoon, reports surfaced that the Chicago Bulls and #Dwyane Wade are expected to reach an agreement on a buyout in the coming months. Wade had a $23.8 million player option, which he chose to exercise ahead of free agency. However, since the Bulls are focused on a major rebuilding process, having Wade on the roster is not part of their long-term plans. [VIDEO]

ESPN insider Stephen A. Smith expects the Bulls to buyout Wade closer to the NBA trade deadline, possibly sooner. Once Wade is bought out and waived, he will become a free agent and have plenty of options to choose from.

Two teams likely to sign Dwyane Wade

According to Stephen A., there are realistically only two options for Wade – the Miami Heat and Cleveland Cavaliers.

Miami was Wade’s home for 13 years, where he won three championships and a Finals MVP. It would be essential for him to return to Miami and retire in a Heat uniform. However, Smith believes there is a chance that Wade spends one season in Cleveland to reunite with #LeBron James for a shot at one final championship run.

“[Wade] is going back to Miami…or he’ll make a pitstop in Cleveland for one final championship run with LeBron James before going back to Miami, but he will end up back in Miami,” Smith said.

Smith’s theory seems plausible since Wade’s former teammate Udonis Haslem has already begun recruiting the 35-year-old to Miami. A short stint with the Cavaliers also makes sense since James and Wade played together in Miami for four years, and the two stars have been hoping to reunite.

With reports of James likely leaving Cleveland next summer, it could be a one-year stint if Wade joins, and then the two can enter free agency together.

Other options for Dwyane Wade?

Although Stephen A. Smith believes the Cavaliers and Heat would be front-runners to land Wade, the 14-year veteran will definitely have other options. The Denver Nuggets may be interested in pursuing him since they wanted to sign him to a huge contract last summer but failed because Wade wanted to go to his hometown of Chicago. The San Antonio Spurs would be intriguing suitors for Wade as well, giving him a great chance to win another title. Expect the Houston Rockets to make their bid for the 12-time All-Star as well.

At this time, Wade is most likely going to be on Chicago’s opening night roster, as the two sides will probably work on a buyout agreement during the regular season, which would be a more ideal time for the Bulls. #Stephen A Smith