CLEVELAND – Dwyane Wade and LeBron James are reportedly set to reunite on the hardwood, but not in Miami.
ESPN's Adrian Wojnarowski reports that Wade will sign to play with LeBron and the Cavaliers this season.
Shams Charania of The Vertical reports Wade's agreement with Cleveland is a one-year, $2.3 million deal.
Wojnarowski says a deal could be agreed upon as soon as Wednesday.
A South Florida homecoming and a return to the Heat had been considered a possiblility for Wade after he and the Bulls agreed to a contract buyout over the weekend.
However, in comments made during the team's media day on Monday, Heat officials did not speak on whether a reunion was imminent or probable.
After 13 seasons with Miami, Wade left before last season to play in his hometown of Chicago, averaging 18 points per game with the Bulls.
But after seeing the franchise moving towards a more youth-oriented rebuild, Wade and the team agreed to a buyout of the $23.8 million he was scheduled to make this season.