It is now official.

What has seemed like a formality since the buyout talks began, Dwyane Wade will sign with the Cleveland Cavaliers on Wednesday once he clears waivers.

He will sign a one year, $2.3 million dollar contract according to multiple media reports.

Wade will be reunited with one of his best friends and former teammate Lebron James as the duo will try to win their third championship together. The two won two NBA championships and made four consecutive NBA Finals appearances as members of the Miami Heat from 2011 to 2014.

He reached an agreement with the Chicago Bulls on Sunday evening to buyout his contract, giving up $8 million of $23.8 million dollar salary for the 2017-2018 season.

Wade averaged 18.3 points, 4.5 rebounds and 3.8 assists per game last year for the Chicago Bulls. He averaged 43.4% from the field and 31.4% from three point distance.

The Oklahoma City Thunder, Miami Heat, and San Antonio Spurs were among the teams interested in the 12-time All-Star.

The Golden State Warriors were also reportedly interested but Wade quickly turned them away.

Wade brings another scoring threat to what already is a high powered offense by NBA standards. He becomes the third option at the moment behind Lebron James and Kevin Love. 

Once Isaiah Thomas returns around mid season, Wade slides back to the fourth option but can still give you a solid 15 to 18 points per game. 

He also brings a defensive threat and although he’s 35 years old, Wade can still bring it on the defensive end of the floor and get some steals as well as the occasional block. 

Wade may not be what he was during his days in Miami but he’s still a solid NBA player and will be a major contribution to the Cavaliers.

His health is always a discussion and he missed time last season with an elbow injury but the Cleveland medical staff is one of, if not one of the best in sports and will keep him well conditioned for the regular season and the playoffs.

Cleveland will have to make a roster move to make room for Wade, the team sits at 20 players for their training camp roster which is the maximum for NBA teams. 

The most likely options to be cut are veterans Richard Jefferson or Jose Calderon whose contracts are worth the veteran’s minimum and wouldn’t be so bad to eat financially.

Dave McMenamin of ESPN tweeted that he was told the Cavs will cut one of the camp invitees whose salary is non guaranteed which are veteran big Kendrick Perkins and undrafted rookie JaCorey Williams.

The team could also look to trade Iman Shumpert which they have been trying to do all summer but could look to hold onto him for another potential trade to add another superstar at the trade deadline.