The Philadelphia 76ers have agreed to a four-year, $39 million contract with free agent forward Dean Wade, according to reports on Tuesday.
The deal uses a portion of the team's non-taxpayer mid-level exception. It includes a partial guarantee in the final season, as reported by Shams Charania of ESPN.
Wade spent his first seven NBA seasons with the Cleveland Cavaliers after joining as an undrafted free agent in 2019.
The 29-year-old averaged 5.8 points and 4.2 rebounds last season while shooting 36.2 percent from three-point range.
Reunion with Former GM
The move reunites Wade with former Cavaliers general manager Mike Gansey, now president of basketball operations for the Sixers.
Gansey previously signed Wade to a two-way contract in Cleveland.
Wade recorded a team-high plus-5.0 net rating during Cleveland's recent playoff run to the Eastern Conference Finals.
His perimeter defense was key in series wins over the Toronto Raptors and Detroit Pistons.
The acquisition hard-caps Philadelphia at the first tax apron for the upcoming season, leaving roughly $5 million of their exception available.
Cleveland faced luxury tax pressure after being the only NBA team over the second tax apron last season.
Wade's departure provides financial flexibility, alongside Keon Ellis who signed with the Brooklyn Nets.
