Guess what these three players have in common... NBAE/Getty Images

Moments after he learned that his team was awarded the fifth pick in the upcoming NBA Draft, Washington Wizards President of Basketball Operations Ernie Grunfeld termed the pick “an asset”. Upon further review, Grunfeld’s earliest assessment of his team’s fortune is upheld by both history and the dictionary. Webster’s defines asset as “a valuable possession or resource” and historically, a quick study of NBA Draft night reveals fifth overall is indeed a desirable position to be in.

With three weeks remaining before the June 24th Draft, the Wizards are in the enviable position of having a multitude of options with which to do with their asset. While it has yet to be determined whether Grunfeld will make the pick, trade the pick, or some combination thereof, it is certain that the opportunity is there for the short and long term betterment of the team.

“I think we are going to get a very good player that is going to be a solid part of our foundation for many years to come,” said Grunfeld. “Having the fifth pick is a strong asset to have. We are going to explore our options just like every other team. That is what you do at this time of year. If we keep the pick, I feel very good about the player that we will be able to get at that spot.”

While it is widely conjectured that this draft is without a player that will make an immediate impact like that of some of last year’s rookie class, this draft is no different from any other in the fact that only time will tell what the talent pool really holds.

Historically, there has always been some uncertainty about the fifth pick in the draft and some questions about the talent level available after the first four selections are made. In 1984, Philadelphia took a chance on a 6-6 power forward that most guessed was actually closer to 6-4. The Bulls tabbed a skinny small forward out of Central Arkansas with the fifth pick in 1987. And a lanky 6-11 kid from Chicago who believed that 20 years without a high school player being drafted was long enough was selected by the Minnesota Timberwolves with the fifth overall selection in 1995. That said, Charles Barkley, Scottie Pippen and Kevin Garnett can respectively vouch for the talent level at the five.

Throw names like Mitch Richmond, Ray Allen, Vince Carter and last year’s fifth pick Dwyane Wade into the mix, and it becomes clear that a muddled talent pool can be a deep place to swim. Since Barkley made his professional debut in ’84, nineteen other fifth picks have played with varying results. All told, the last twenty players selected fifth overall have totaled 179,158 points in 11,906 NBA games to date, for an impressive 15.0 points per game average from the five-hole.

The task of deciding what to do with the draft pick is ultimately left up to Grunfeld, who by his own admission will not feel forced to draft a player of a particular position or age, or draft a player at all.

“I’ve never been a big believer in drafting for need,” said Grunfeld. “I’ve always believed in drafting the best available player regardless of position. It’s a very young draft and we may have to look at a player that is very young, but a player that will help us out down the road. We’ll explore all of our options.”

While the Wizards will certainly have an abundance of options to consider in regards to their first round selection, draft night is only half over after the first round is logged. Some of the best bargains are found long after Commissioner Stern passes the podium to Russ Granik, as the league’s Deputy Commissioner ushers in a gaggle of players without a guaranteed contract in their immediate future.

The Wizards also own the third pick in the second round of this year’s draft; a 32nd overall slot that in recent years saw a full roster of NBA talent go by the boards.

Consider that if a team had nothing but the 32nd pick in each of the last twelve drafts, it would have been possible to field a starting five of Eric Snow (43 in 1995), Michael Redd (43 in 2000), Emanuel Ginobili (57 in 1999), Carlos Boozer (35 in 2002) and Ben Wallace (undrafted in 1996). Following that five one could have Nick Van Exel (37 in 1993), Voshon Lenard (46 in 1994), Stephen Jackson (43 in 1997), Brad Miller (undrafted in 1998) and Mehmet Okur (38 in 2001). And for good measure one could bring Popeye Jones (41 in 1992) and Luke Walton (32 in 2003) off the bench, with the likes of Ronald Murray (42 in 2002), Gordan Giricek (40 in 1999), Rashard Lewis (32 in 1998), Rafer Alston (39 in 1998), Cuttino Mobley (41 in 1998) and Mark Blount (55 in 1997) bristling that they were passed over.

While this is obviously the most unlikely of scenarios, and hindsight is always 20-20 in a league of drafts and trades, it nevertheless stands as proof that top tier talent is available throughout the draft and that any pick, whether it used or traded, is an asset with star-finding potential.