Chicago Bulls: 5 Takeaways From Dwyane Wade Signing

May 13, 2016; Miami, FL, USA; Miami Heat guard Dwyane Wade (3) shoots the ball over Toronto Raptors forward DeMarre Carroll (5) during the first quarter in game six of the second round of the NBA Playoffs at American Airlines Arena. Mandatory Credit: Steve Mitchell-USA TODAY Sports
May 13, 2016; Miami, FL, USA; Miami Heat guard Dwyane Wade (3) shoots the ball over Toronto Raptors forward DeMarre Carroll (5) during the first quarter in game six of the second round of the NBA Playoffs at American Airlines Arena. Mandatory Credit: Steve Mitchell-USA TODAY Sports /
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The Chicago Bulls have reportedly reached an agreement with Dwyane Wade on a two-year deal. What does this mean for both sides going forward?

May 13, 2016; Miami, FL, USA; Miami Heat guard Dwyane Wade (3) shoots the ball over Toronto Raptors forward DeMarre Carroll (5) during the first quarter in game six of the second round of the NBA Playoffs at American Airlines Arena. Mandatory Credit: Steve Mitchell-USA TODAY Sports
May 13, 2016; Miami, FL, USA; Miami Heat guard Dwyane Wade (3) shoots the ball over Toronto Raptors forward DeMarre Carroll (5) during the first quarter in game six of the second round of the NBA Playoffs at American Airlines Arena. Mandatory Credit: Steve Mitchell-USA TODAY Sports /

When the free-agency period began, the Chicago Bulls appeared to be heading towards a rebuild phase. They traded Derrick Rose to the Knicks, while big men Joakim Noah and Pau Gasol left to begin the next chapter of their careers with different teams as well.

However, the Bulls undoubtedly raised a few eyebrows when it was reported that they had reached an agreement on a two-year deal with Dwyane Wade, per the Vertical’s Adrian Wojnarowski.

This news was surprising for a couple of reasons. For starters, Wade has spent his entire career with the Heat, and although contract negotiations had become contentious, the consensus was the two sides would eventually find a way to make it work.

Needless to say, that did not happen.

Secondly, it was reported that the Bulls had cancelled their meeting with Wade on Wednesday due to issues with their flight, which meant that their chances of landing the 12-time All-Star appeared to be somewhat dim at best.

But in an offseason that has seen a number of surprising developments, Wade opting to sign with the Bulls can now be added to the list. That being said, here are a few takeaways as to what this move means for both sides.

Next: No. 5