Dwyane Wade
Mar 13, 2017; Charlotte, NC, USA; Chicago Bulls guard Dwyane Wade (3) signs autographs for fans after the game against the Charlotte Hornetsat Spectrum Center. The Bulls won 115-109. USA TODAY Sports/Jeremy Brevard

Chicago Bulls aren't willing to buyout veteran star Dwyane Wade's contract unless it benefits the franchise, according to executive vice president John Paxson. Last week, Wade opted into his US$23.8 million (AU$31.2 million) Player Option for the 2017-18 NBA season.

However, the Bulls pulled the trigger on the long overdue Jimmy Butler trade barely days after Wade announced his decision to stay with the club. With Butler gone, there has been rampant speculation around the league about Wade wanting to secure a buyout with the Bulls.

The new-look Bulls have hit the reset button and would build around young players such as Zach LaVine, Kris Dunn, Lauri Markkanen, Denzel Valentine, Bobby Portis, and Nikola Mirotic. Clearly, the 35-year-old Wade doesn't feature in Chicago's long-term plans.

"I know (general manager) Gar (Forman) has spoken to Leon Rose, Dwyane's agent. As far as a buyout, it has not been broached. I will say this, that in this type of scenario, it would have to benefit us. It would absolutely have to benefit us. Dwyane was a great pro last year, and he's been around a lot of different situations. He was in Miami when they had a couple rebuilding years as well. So right now we're operating under the assumption that he'll be here. But like I said, if that subject is ever broached by them, then it would have to be advantageous for us," Paxon told a news conference on Tuesday, via ESPN.

Chicago Bulls still to take a call on Rajon Rondo

The Bulls will also have to take a call on veteran point guard Rajon Rondo, who signed a two-year, US$27 million (AU$35 million) contract last summer. Only US$3 million (AU$3.9 million) of his 2017-18 salary will be guaranteed if the Bulls release the point guard before June 30.

"As far as Rajon, we told you how highly we think of him. Zach and Rajon share the same agent, Bill Duffy, who is here today. We're going to sit down with Bill and talk through [things]. We do understand that veterans are important for a young basketball team. The right veterans. The guys that are good teammates, are supportive of the young guys, and continue to teach them how to be pros. Those are things we'll be addressing," said Paxon while addressing the Rondo situation.

If Dwyane Wade and the Bulls can agree to terms on a buyout, the three-time NBA champion and 2006 Finals MVP is expected to join LeBron James & Co. in the Cleveland Cavaliers. But it seems like Paxon and Forman aren't ready to help out Cleveland just yet. There is also the possibility of a team with abundant cap space pulling off a Dwyane Wade trade at some point in July. The NBA Free Agency 2017 period gets underway Saturday.

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