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Heat working to create cap space

Updated: June 24, 2010, 11:17 AM ET
By Chris Sheridan | ESPN.com

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 ...

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