Trade analysis: Sixers could lose first-round draft pick

Let us offer a word of caution to the folks in Philadelphia rejoicing over bounty of the Allen Iverson trade because it gave the 76ers three first-round picks in the 2007 draft.

Not so fast, folks. The Sixers might only have two picks, and here's why:

Back when he was trading secondary players rather than franchise players, Billy King was part of a four-team trade in July 2003, involving Philadelphia, Atlanta, Minnesota and New York. King surrendered the Sixers' 2007 first-round pick to the Hawks, provided the pick is not in the top 15. If the pick does end up being in the top 15, Philadelphia keeps it and must make a $1 million payment to Golden State (which acquired the rights to the pick from Atlanta through Dallas) that extinguishes the obligation for a first-round pick.

"I put that provision in there because I didn't want the obligation to keep going on and on," King told me from his cell phone Tuesday night as he drove home following the most hectic two weeks of his tenure as Philadelphia's general manager.