The Utah Jazz have agreed to trade Derrick Favors and a future first round pick to the Oklahoma City Thunder for a future second round pick.

The Jazz will create financial flexibility with the move as they attempt to re-sign Mike Conley Jr. in free agency.

The Houston Rockets traded two first round picks to the Oklahoma City Thunder in exchange for No. 16 to select Alperen Sengun. 

The picks are a 2022 first rounder from the Detroit Pistons and a 2023 first rounder from the Washington Wizards. 

The Oklahoma City Thunder enter draft day at No. 6 and have engaged with all five teams picking ahead of them, sources tell Kevin O'Connor of The Ringer.

It is not clear to rival executives which player the Thunder are trying to target in moving up, though Cade Cunningham and Evan Mobley have been cited most frequently followed by Scottie Barnes. The Thunder would need to move up to No. 1 to select Cunningham, No. 3 for Mobley or No. 4 for Barnes. 

The Cleveland Cavaliers at No. 3 have long been mentioned as the team at the top of the draft who would be most amenable to trading down.

With the deepest collection of future draft assets in NBA history, the Thunder theoretically should be able to move up should they be desperate enough to do so.

The Cleveland Cavaliers have shown more willingness to move out of the top-3 than either the Detroit Pistons or Houston Rockets. The Cavaliers are further along in their hopes of competing for a playoff spot than either the Pistons or Rockets.

If the Oklahoma City Thunder are able to move up, the Cavaliers are the most likely trade partner. The question is whether the Thunder would agree to send Shai Gilgeous-Alexander in a package for No. 3.

“I’d personally stay where I’m at and take Evan Mobley or Jalen Green,” one GM said. “As much as I love Shai, he’s not quite at the same level those guys are and the Cavs really need a star.”

The Cavaliers have a decision to make this offseason as Colin Sexton becomes eligible for a contract extension and has reportedly been shopped.

The Oklahoma City Thunder have offered Shai Gilgeous-Alexander and the No. 6 pick to the Detroit Pistons for the No. 1 overall pick in hopes of selecting Cade Cunningham, sources tell Jake Fischer of Bleacher Report.

The offer represents a change in thinking for the Thunder on Gilgeous-Alexander as each of the teams with the top-4 picks in 2020 were quickly rebuffed when inquiring on him last year. Gilgeous-Alexander is eligible for an extension this summer worth up to $168 million over five years. 

"It's going to take a f--king lot to get him, but he's no longer impossible to get," said one team executive. 

The Pistons have consistently sent a message to teams calling on No. 1 that they will require a first in this year's draft, future draft assets an an established young star.

Oklahoma City is expected to continue seeking ways to move up with the Toronto Raptors at No. 4 a possibility. 

The Oklahoma City Thunder have been active in trade conversations on moving up in the draft with Cade Cunningham and Evan Mobley rumored to be the prospects they're most interested in selecting.

The Thunder own picks No. 6, 16 and 18 in the first round this year in addition to more future draft picks than any other team in the NBA. Oklahoma City theoretically has enough assets to move up but the question is whether they will find the cost too exorbitant. 

If the Thunder stay at No. 6, they are connected to James Boutknight. Oklahoma City had interest in Bouknight dating back to last year's draft when he decided to remain at UConn. 

The Orlando Magic are believed to be high on Scottie Barnes with the fifth pick, while the Oklahoma City Thunder prefer Barnes or James Bouknight at No. 6.

For weeks, Jonathan Kuminga was mentioned in the group of top-5 prospects in the draft but he has been "scarcely mentioned" as a possibility for either the Magic or Thunder at five and six.

Kuminga spent last season in the G League with the Ignite. While he's considered a prospect with considerable upside, he is further away from contributing in the NBA.

In the weeks since the Detroit Pistons won the lottery to draft first overall, the Cleveland Cavaliers, Houston Rockets, New Orleans Pelicans and Oklahoma City Thunder are among the teams who have inquired about moving up to No. 1, sources tell ESPN.

If a deal were to be consummated, it would more than likely occur closer to the draft.

"Detroit is comfortable standing pat at No. 1 and taking [Cade] Cunningham but will be active in exploring the possibility of trading down and obtaining additional assets, with [Evan ]Mobley a potential target if something gets done," writes Jonathan Givony. 

While Cunningham has widely been considered the consensus top prospect in the draft, multiple reports have suggested Detroit's Troy Weaver isn't necessarily sold on Cunningham. 

Givony writes that Cunningham remains "the overwhelming favorite to end up in Detroit at that spot still." 

Vasilije Micic has signed a three-year extension with Anadolu Efes, though the deal has NBA outs for each of the next two summers.

The Oklahoma City Thunder acquired Micic's NBA rights in December. 

Micic is the reigning EuroLeague and Final Four MVP.