James and Wade have been friends since entering the NBA together in 2003, and were teammates with the Heat for four seasons from 2010 through 2014. They won two titles together and went to the NBA Finals in each of those seasons, and remained close even after James left Miami for a return to his hometown team in Cleveland.

According to ESPN, Wade has agreed to sign a one-year, $2.3 million deal with the Cleveland Cavaliers.