Over the last several weeks, the chatter has picked up around the Chicago Bulls regarding a potential buyout of All-Star guard Dwyane Wade's contract.
According to K.C. Johnson of the Chicago Tribune, the standing on that front received some clarity on Thursday with executive vice president John Paxson voicing the type of scenario that would get this action put in motion.
Speaking on “The Mully and Hanley” show on WSCR-670 AM Thursday morning, Bulls executive vice president John Paxson echoed the sentiment he stated in June when he said any buyout talks would have to be “advantageous” for the franchise. Translated: Wade would have to give up a significant portion of his paycheck.
Wade is set to enter the second-year of his two-year, $48 million deal that will pay him $23.8 million this upcoming season, which was an option that he decided to pick up on June 20, which was seven days before the deadline.
It was an early choice that has essentially trapped Wade in Chicago in a rebuilding process with Jimmy Butler being traded to the Minnesota Timberwolves just two laters after his decision to opt in. The 35-year-old hasn't exactly shot down the scenario of being bought out, but things are certainly hedging in that direction.
All of this may come down to how much Wade is willing to give up in a bought out situation. If he's able to get closer to what the Bulls are willing to pay, things could swiftly get done between both sides.
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