The Cavaliers exercised Wade's $1.93 million team option for 2022-23 on Wednesday, Chris Fedor of The Cleveland Plain Dealer reports.

Wade averaged 5.3 points and 2.9 rebounds per game across 51 appearances before his season came to an early end after suffering a torn meniscus. The Kansas State product has already resumed on-court activities, but it's unclear when he'll be able to play again.

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