While guesting on 670 The Score, Bulls executive VP John Paxson revealed that discussions with Wade’s representatives have been going on for “the last few weeks” (starting at 5:00):
“We talked to his representatives. (Bulls GM) Gar [Forman] has been on the phone with his guy several times in the last few weeks, so some dialogue is going on.
“We haven’t heard directly from Dwyane, but we understand where he is at this time of his career. We’re more than willing to work with him.” […]
“We have to always do what’s in our best interest. So there has to be something that is mutually agreed upon. It can’t be something that the player wins because that’s what he wants.”