The Huffington Post reported Tuesday morning the Cavs and Wade were in "preliminary talks," but also cautioned that the talks were "still early."
The maxed-out Cavs, without getting creative with the cap, only can offer Wade the $3.4 million taxpayer's mid-level exception.
ESPN subsequently reported Wade cancelled free-agent meetings he had set up for this week, including one with the Bucks on Wednesday.
That's either a sign he's made headway with the Heat - who had a two-year, $40 million offer on the table, with an option for the second year - or an indication something even more interesting is afoot.
The 34-year-old Wade has spent his entire 13-year career with the Heat, winning three NBA titles. He averaged 19.0 points, 4.1 rebounds and 4.6 assists last season in 74 games, the most he had played since 2010-11.
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