On Tuesday, Joe Vardon of Cleveland.com noted Wade is "leaning heavily toward" teaming back up with LeBron James after he clears waivers. David Aldridge of TNT reported Monday there was "strong belief" around the NBA the guard would sign with the Cavs.
Adrian Wojnarowski of ESPN later reported Wade is "nearing a commitment" to sign with the Cavaliers and could sign as soon as Wednesday.
The news doesn't come as a surprise. James and Wade enjoyed plenty of success together with the Miami Heat, highlighted by winning back-to-back NBA titles in 2012 and 2013, and they have been close friends since they both got selected in the top five of the star-studded 2003 draft.
Alex Kennedy of HoopsHype provided further details about Cleveland's pitch:
Ben Axelrod of WKYC passed along James' comments on the possible addition:
Wade is no longer the dynamic offensive threat he was during his prime. His 18.3 points per game last season with Chicago was his lowest average since his rookie campaign. But his Player Efficiency Rating still ranked seventh among shooting guards last season, per ESPN.com.
Along with giving the Cavs another notable name in the never-ending arms race with the Thunder, Houston Rockets and Golden State Warriors, the 35-year-old Marquette product would also give the team added backcourt depth while recent trade acquisition Isaiah Thomas recovers from a hip injury.
Wade will be eligible to sign with a new team once he clears waivers Wednesday.