Cleveland Cavaliers have reached an agreement [VIDEO]with Dwyane Wade as the shooting guard will sign with the team this week. Just a few days ago, Wade was bought out by the Chicago Bulls and this move made him a free agent. The guard gave back approximately $8 million [VIDEO] of his $24 million contract to the Bulls, and he will sign a one-year minimum deal with the Cavaliers.

However, before Dwyane Wade signs with Cleveland officially, the Cavaliers will have to waive one of their players. Training camp has already started and the team will have to make room for the newly-signed veteran. It seems that the Cavaliers will cut Kendrick Perkins, even though they invited him to the training camp just a few days ago.

Cavaliers waiving Kendrick Perkins

Perkins was invited to the training camp last week and it looked like the Cavaliers might sign him for the regular season. Despite the fact that the big man hasn't played in the NBA for over a year, Cleveland could use his inside presence in the playoffs. However, it seems that things will not go well for the center.

According to Joe Vardon of Cleveland.com, the Cavaliers will probably Kendrick Perkins him to make room for Wade. This, however, would not be enough as the team would have to make another move before the season starts. New NBA rules allow teams to have more players, including G League players, but the Cavaliers still have too many of them on the roster and will have to make more moves.

Kendrick Perkins last played for the New Orleans Pelicans where he averaged 2.5 points and 3.5 rebounds per game. The 32-year-old center is not ready to retire yet and he wants to make an NBA return. "I've been keeping my weight down, making sure I'm getting all the cardio I need, staying in great shape," Perkins said in July. Unfortunately, it seems that the Cavaliers won't be able to give him the opportunity that he's looking for.

Cleveland and Dwyane Wade

Even though the Cleveland Cavaliers lost Kyrie Irving earlier this summer, they have bounced back by adding some amazing players. First, they got Isaiah Thomas and Jae Crowder for Irving. After that, the reigning Eastern Conference champions signed former MVP Derrick Rose, followed by Dwyane Wade.

With Wade on the roster, the Cavaliers are once again favorites to win the East. Not only that, but their chances of winning a championship have drastically improved. Wade and LeBron James led the Miami Heat to two titles a few years ago, and they might do the same in Cleveland.