According to ESPN's Wojnarowski, he gave back about a third of his salary - $8 million - to become a free agent.
With the trade of Jimmy Butler to the Minnesota Timberwolves, Dwyane felt snubbed in Chicago as he was the lone star player at the time.
After all of the reports that Wade and the Bulls front office not really speaking about a buyout, everything changed late on Sunday night.
Chelsea: Alvaro Morata Nets Slick Hat-Trick As Blues Cruise Past Stoke
It seemed nothing would go Stoke's way and Morata finished any thoughts of a comeback with 13 minutes remaining. The two teams match up next weekend in the first heavyweight bout of the season.
Citing anonymous sources, ESPN's Adrian Wojnarowski is reporting that Cleveland is the "clear frontrunner" in the Wade sweepstakes, although the three-time National Basketball Association champ is expected to take a "little time" to decide his next move.
The Bulls begin training camp on Monday.
Now that Wade will be off the Bulls' books this season, they still have some space to fill on the current roster.