Per Jackson, "The Heat would be interested in Wade under certain circumstances, including if he agrees to a bench role and if he would be willing to play for Miami's $4.3 million exception."
Jackson also reported that, along with the Cleveland Cavaliers, Wade is interested in potentially playing in Miami or Los Angeles. Any moves are contingent upon his being bought out by the Chicago Bulls, however.
As Wade told Turner Sports' David Aldridge, per Jackson, he and the Bulls have yet to discuss the buyout option:
"When the time is right for me and the Chicago Bulls to sit down and talk about the future, we will do that. The time hasn't been right obviously to this point. But I will be in Chicago soon enough and hopefully we get an opportunity to sit down and talk about the future and the direction and go from there. I'm 35 years old. I'm a grown man. I can definitely sit across the room from you and listen to your truth and hopefully hear mine and go from there."
Wade made it clear he wants to compete for another title as his career winds down:
"First of all, obviously, everyone wants to compete. It's no secret. We would all love to compete for a championship at the end of my career. That is one thing I would love to do. I'm not in a position right now to do that, so I can't talk about what that preference is. Hopefully, one day before I'm done playing this game, I can be back in position to compete for a championship. ... I would love to because I feel that I can add something to a team that's in that position."
For that to happen, Wade would need the Bulls to either trade him—unlikely considering the team that acquires him would have to take on his $23.8 million salary for the 2017-18 season, per Spotrac—or to indeed buy him out.
For a Bulls team set to rebuild after trading Jimmy Butler this offseason and presumably without Zach LaVine for part of the season as he recovers from a torn ACL, keeping Wade makes little sense. A buyout seems the most likely outcome, though Chicago likely will explore every nook and cranny of the trade market before settling on that move.