Dwyane Wade nears agreement to sign with Cavs, reports say

Dwyane Wade is nearing a commitment to sign with the Cavaliers, according to multiple reports, and the agreement could be reached as early as Wednesday, ESPN.com reported Tuesday, citing unidentified league sources.

Earlier, Cleveland.com described Wade as "leaning heavily" toward signing with the Cavs, citing an unidentified prominent league source as saying Wade "has no intention of going anywhere else" but Cleveland. That report also said Cavs sources would confirm only the team's interest in Wade, but nothing more.

Wade and the Bulls reached a buyout agreement last week, making him a free agent, and almost immediately Cleveland became the favorite to land the veteran guard.

In Cleveland, Wade would be reunited with LeBron James, with whom he played in Miami, and create a formidable backcourt with Isaiah Thomas and Derrick Rose. The Spurs, Thunder and Heat had also been reported in the mix to land him.

Wade averaged 18.3 points, 4.5 rebounds and 3.8 assists in 60 games last season, playing 29.9 minutes per game. That scoring output in his first season in Chicago was his worst since his rookie 2003-04 campaign with the Heat, and his 43.4 percent shooting from the field was a career low.