Heat Trade Cook, Draft Pick to Thunder

The Miami Heat are going all out in this July's free agent market, so the team trading away its first-round pick, No. 18 overall, along with third-year wing Daequan Cook is no surprise. Oklahoma City agreed to take on Cook and the pick, sending Miami the No. 32 pick overall. Yahoo!'s Adrian Wojnarowski and DraftExpress' Jonathan Givony have reported the deal.

With the move, the Heat clear another $3 million off the team's 2010-11 payroll, putting the team in play for three high-salary free agents. Assuming one will be Dwyane Wade, that could mean Heat president Pat Riley can chase Chris Bosh and a second free agent. It does take two cheap role players -- that'd be Cook and whomever the Heat would have taken at No. 18 -- out of play for next season, but the real prize is in the big names.

First-round picks count against a team's salary cap, even before they are signed by the team which owns their rights. Second-round picks do not count against the cap until signed, however, so the Heat pick up just over $1 million in cap space in swapping the picks alone.

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The Thunder, meanwhile, pick up another inexpensive specialist in 23-year-old Cook for the team's deep backcourt, and have a chance to pick up a high-potential prospect at No. 18, where players like Gordon Hayward, Patrick Patterson or Hassan Whiteside could potentially be available.

Oklahoma City also has the No. 21 and No. 26 picks in the first round, as well as the 51st pick overall. All Miami's four picks -- Nos. 32, 41, 42 and 48 -- fall in the second round.