The Miami Heat were still desperately seeking salary cap room Thursday as the hours ticked down to the NBA draft. One day after essentially sacrificing Daequan Cook and a first-round draft pick (18th overall) in a trade with Oklahoma City that cleared $3.4 million in salary cap space, a league source told ESPN.com that the Heat were working Thursday on a buyout of James Jones' contract to further increase their financial flexibility for free agency this summer. Jones has $15.5 remaining on his contract through 2012-13, but those final three seasons are only partially guaranteed if James is waived by June 30. Waiving Jones would knock another $2.8 million off the Heat's salary cap for the 2010-11 season, giving them roughly $27 million to spend in free agency after July 1. That amount would be enough to keep Wade, sign an additional maximum salary free agent -- and Heat president Pat Riley is prepared to make a strong push to sign LeBron James -- while still leaving an additional $10-11 million to spend on one or more additional free agents. http://sports.espn.go.com/nba/news/story?id=5322877
