Report: Bulls shopping Mike Dunleavy and Jose Calderon to clear cap space for Dwyane Wade

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The Heat aren’t the only team trying to figure out how to clear cap room to sign Dwyane Wade.

If the Bulls want Wade, they’ll also need to dump players.

Mike Dunleavy and Jose Calderon appear to be first on the chopping block.

Adrian Wojnarowski of Yahoo Sports:

The big unknown: Are the Bulls intent on clearing space for Wade, or are they just gauging the market so they understand their options? It’s easy to suspect the former and work yourself into a frenzy when the latter might be true.

Wade is better and younger than both Calderon and Dunleavy. Swapping Calderon and Dunleavy for Wade would be a steal.

If dumping Calderon ($7,708,427 salary next season in the final year of his contract) and Dunleavy ($5,175,000 in 2016-17 and $4,837,500, $1,662,500 guaranteed, in 2018-19) requires sending out an asset, the exchange could still be worthwhile. An unprotected first-rounder is too much. A second-rounder would be fine. It’s about finding the cutoff point.

Chicago would be in better position to make and advance in the playoffs next season with Wade, and that would make the Bulls more appealing to 2017 free agents. Wade’s 2017 salary would obviously limit Chicago’s spending next summer, but missing the postseason would also reduce the Bulls’ draw.

Slotting Wade between Rajon Rondo and Jimmy Butler would cause some difficulties, especially floor-spacing. But if adding Wade costs only his salary, Calderon, Dunleavy and a low pick, that’d be worth it. It’d be a big talent and perception upgrade.

If they trade Dunleavy and Calderon and waive Spencer Dinwiddie, the Bulls could offer Wade a two-year contract worth about $49 million (exact figure depending on Rondo’s contract terms). That’s a little shy of Wade’s $50 million request, but it at least makes Chicago a viable suitor and cranks up pressure on the Heat.