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Wolves, Heat finalize deal for Beasley; Minnesota signs Milicic

MINNEAPOLIS (AP) -- The Timberwolves and Heat completed their trade on Monday that sends Michael Beasley to Minnesota for two second-round picks and cash considerations.

The Heat made the move to clear cap room to re-sign Dwyane Wade and bring in Chris Bosh and LeBron James. The Heat get Minnesota's second-round picks in 2011 and 2014.

The 21-year-old Beas-ley averaged 14.8 points and 6.4 rebounds for the Heat last season. The former No. 2 overall pick started all 78 games he played in last year.

Beasley is under contract for $4.9 million this season and the Wolves will have a team option for roughly $6.2 million next year.

The trade also helped Miami to sign forward Udonis Haslem to a five-year deal on Monday.

Meanwhile, the Timberwolves announced the signing of free-agent center Darko Milicic.

The former second overall pick was planning on returning to play in Europe before a February trade to Minnesota energized his career.

In 24 games with the Timberwolves, Milicic averaged 8.3 points, 5.5 rebounds and 1.4 blocks per game. The Timberwolves liked the 7-footer's presence on the defensive end and his versatility on offense. They agreed to terms on a four-year deal worth $16 million in guaranteed money earlier this month but could not officially sign the contract until July 8.