Despite being rumored as exploring his options in free agency, Chicago Bulls guard Dwyane Wade has already informed his team that he will pick up his player option and will remain with them for next season, per CSN Chicago's Vincent Goodwill.

After spending the first 13 years of his NBA career with the Miami Heat, the 12-time All-Star shocked a lot people last year when he announced his decision to leave South Beach and play for his hometown team instead. He signed a two-year, $47.5 million deal and is slated to receive $23.8 million in the second season.

His decision seemed like the obvious one to take as he is now 35-years-old, and may not be able to receive an offer anywhere close to that amount with another team. But make no mistake about it, Wade is still a valuable contributor and his experience is something that makes him even more essential to the Bulls.

This past season, Dwyane Wade averaged 18.3 points, 4.5 rebounds and, 3.8 assists, while having the opportunity to stay close to his family and friends. He has been vocal that he is happy where he is now at the stage of his career, which probably made his decision much easier to make.

Despite all the drama that the Bulls had to go through last season, they were still able to bounce back from it to make the playoffs. It may not have ended like they planned, as they lost in the first round to the Boston Celtics, but with Wade back and Jimmy Butler appearing to want to do the same, the Bulls may only be a few key pieces away from becoming serious contenders in the Eastern Conference.