The New Orleans Pelicans have traded for Heat point guard Norris Cole (pictured left), forward Shawne Williams and Center Justin Hamilton as part of a three-team deal involing the Pelicans, Miami Heat, and Phoenix Suns.

New Orleans receives Cole, Hamilton and cash considerations from Miami, as well as Shawne Williams from Phoenix.

Adrian Wonjarowski of Yahoo sports is reporting the Pelicans will buyout Shawne Williams, making him a free agent.

New Orleans sends veteran forward John Salmons to the Suns, while Phoenix sends point guard Goran Dragic and his brother Zoran Dragic to Miami.

New Orleans made a second trade with the Oklahoma City Thunder, acquiring guard Ish Smith, the rights to Latavious Williams, cash considerations and draft considerations, while the Thunder receive draft considerations from the Pelicans to finalize the deal.

The team announced Thursday night the waiving of Smith.

In addition to the departure of Salmons, the Pelicans have waived guard Toney Douglas. Douglas signed a ten-day contract with New Orleans earlier this week, but never appeared to be in their long term plans.

New Orleans' roster now stands at 15.