"Indiana Pacers president Larry Bird spent the past three years waiting for the financial flexibility to make a run at the top free agents or make major trades.

Now that the time is here, Bird said the Pacers won't just open up the checkbook and start handing out money because they can.

Bird and general manager David Morway have been working nonstop making and receiving phone calls to and from agents and other teams about deals once free agency is expected to begin Dec. 9.

"This team should be in the right position to compete at a high level because of the situation we're in," Bird said Thursday. "Just because you have a lot of cap space doesn't mean you have to go out and spend $21 million.""