Alex Kennedy of HoopsHype reported the news.
Wade, 35, agreed to a buyout with the Chicago Bulls on Sunday. He agreed to forfeit $8 million of his $23.8 million base salary to facilitate the move, per Brian Windhorst and Adrian Wojnarowski of ESPN.com.
The likelihood of Wade landing with the Lakers seems minimal at best. It's felt like a borderline foregone conclusion for months that Wade would land with the Cleveland Cavaliers once he was inevitably bought out by Chicago. Wade and LeBron James are best friends and made four straight NBA Finals appearances when the latter joined the former in Miami in 2010.
The Heat, San Antonio Spurs and Oklahoma City Thunder are also considered contenders for Wade's services. With training camps opening up across the league, Wade made it clear he won't be waiting long to make a decision.
"I'm going to take tonight and some of tomorrow and speak to the teams or players that are on my list and go from there," Wade said, per Tim Reynolds of the Associated Press. "My decision is a pure basketball decision and I'll make the one that fits me best at this point in my career, and with what I feel I have to offer a team that needs what I have to offer."
The "basketball decision" component only furthers expectation that Wade will not sign with the Lakers. For all of the bravado of LaVar Ball, the Lakers are nowhere near being a 50-win team this season. They are likely improved but are still heading for the lottery—a fate Wade just paid $8 million to get himself out of in Chicago.
The Thunder's acquisition of Carmelo Anthony could throw a wrench into things, but this feels like a Cavs vs. Heat battle. Miami can rectify the wrong of allowing Wade to sign with Chicago in the first place and create a fitting final chapter for his career. Cleveland offers a chance to compete for a championship next to his best friend.