Bulls still monitoring Dwyane Wade saga as it continues to play out

Tuesday marked another day in which Dwyane Wade didn’t commit to the only franchise he has known, making the Heat sweat.

The Bulls continue to communicate with Wade’s representatives and it appears they will stay engaged until the process reaches its conclusion, though landing him remains a long shot.

Yahoo Sports’ Adrian Wojnarowski reported late Tuesday that Wade was to meet with Nuggets officials Wednesday in New York.

There is plenty of leaguewide skepticism that Wade will leave South Beach, where he has won three NBA titles but taken less than his maximum salary on three straight deals. That’s why Wade wants either a three- or two-year deal at a higher annual average than the $40 million deal the Sun-Sentinel of Fort Lauderdale, Fla., first reported he rejected.

That offer had a player option on the second season so Wade could re-enter free agency next summer if he wanted. The salary cap — set for $94 million this summer — again is expected to rise dramatically, possibly reaching $110 million.

In their initial conversations with all free-agent targets, the Bulls were reluctant to go beyond two-year deals and even talked one-year deals with team protection on the second season so as to preserve cap space for next offseason. The latter is the type of deal to which Rajon Rondo verbally committed.

It’s unclear if Wade’s potential availability would change that Bulls’ philosophy. Wade, a Robbins native who also talked with the Bulls in 2010 free agency, will turn 35 next January. But he’s coming off a strong season — and an even stronger postseason — in which he averaged 19 points while playing 74 games.

Rondo’s commitment on his two-year, $28 million deal left the Bulls with roughly $10 million of cap space. To meet Wade’s contractual demands, they would have to create more cap space by waiving non-guaranteed deals and/or Jose Calderon and/or looking to unload the palatable contracts of Taj Gibson or Mike Dunleavy.

Though this would be a long shot scenario, the Heat also could engage in sign-and-trade talks with Wade’s pursuers. The Nuggets reportedly also remain in the mix.

Point taken: Rondo is in Chicago and will sign his deal officially when the free agent moratorium lifts Thursday. That’s also the day the Bulls are expected to introduce the point guard, who led the NBA in assists last season but has accumulated some baggage from run-ins with coaches, including Rick Carlisle.

Rondo, 30, came away from his meeting and film session with Bulls coach Fred Hoiberg excited about his prospects in the offense, according to someone who talked to the guard.

Summer fun: The Bulls open play at the NBA Summer League in Las Vegas on Saturday against the Celtics at 5 p.m. They’re practicing this week at the Advocate Center. Doug McDermott is practicing but won’t play with the entry.

kcjohnson@tribpub.com

Twitter @kcjhoop