The Nets have no regrets about trading this year's first-round pick to Portland in exchange for Gerald Wallace.

“Yes,” Nets general manager Billy King said when asked whether he still defends the move, “because I think what Gerald Wallace brings to the table is a lot better than some of the younger guys (available in the draft). They may take two or three years and as I’ve said before, we’re trying to win right away.

“Deron’s getting older, we don’t want to be in a rebuilding process. So we’re going to add some veterans to this roster.”

The Nets’ pick was only protected through the first three spots.

“Obviously, if you have one of those top picks, it’s adding an asset, but I think we have, once again, cap space,” King said.

The New Orleans Hornets have won the 2012 NBA Draft Lottery just a few months after trading away Chris Paul and are expected to select Anthony Davis.

The Hornets had a 13.7 percent chance of winning the lottery.

Below is the draft order of the lottery: 

1. New Orleans Hornets
2. Charlotte Bobcats
3. Washington Wizards
4. Cleveland Cavaliers
5. Sacramento Kings
6. Portland Trail Blazers (from Brooklyn)
7. Golden State Warriors
8. Toronto Raptors
9. Detroit Pistons
10. New Orleans Hornets (from Minnesota)
11. Portland Trail Blazers
12. Milwaukee Bucks
13. Phoenix Suns
14. Houston Rockets 

Click here to complete a mock draft in our custom Draft Sim.

Deron Williams denied a report from Yahoo! Sports' Adrian Wojnarowski that had sources claiming he would leave the Nets if they were unable to acquire Dwight Howard.

"I would love to know who (his) source is (because) he knows more about what I'm thinking then I do," wrote Williams on Twitter. "Maybe they can help me decide?"

Williams will be an unrestricted free agent this summer.

Dwight Howard regrets his decision to forgo his early termination option on his 12-13 contract, according to sources

Howard seeks a trade before next season and his camp is applying pressure on the Magic to pursue a deal as soon as a new general manager is in place.

Several GM candidates have been creating trade scenarios involving Howard and proposing them to CEO Alex Marins during the interview process.

If the Nets win the lottery to select Anthony Davis, it will not be enough to sign Deron Williams as a free agent, according to sources.

"It's Dwight Howard or bust," said a league source who has spoken to Williams.

Williams doesn't want to wait for Davis to develop and won't re-sign with the team unless they become an instant contender.

The Nets believe they will be able to retain Brook Lopez in a potential trade with the Magic if they win the lottery.

Sources say Howard regrets opting into his contract and seeks a trade before the 12-13 season. But the Nets become a far less appealing destination if Williams leaves and that is why Howard's camp is putting pressure on the Magic to do a deal once a general manager is in place.

Deron Williams prefers to re-sign with the Nets, but he also would consider going to the Lakers in a sign-and-trade, according to a source.

The Lakers appear to be a more suitable alternative for Williams than the Mavericks.

"There's no longevity there," said a source close to Williams of the Mavericks.

Deron Williams has not made a decision on which team he will sign with this summer.

"I want to reiterate: I don't know what I'm doing next year, still,'' Williams said. "Nobody does, but me. Not even my mom, my brother, my uncle, my cousin – I haven't talked to anybody about where I'm going this year.''

Williams has grown tired of outsiders speculating on where he might be playing next season.

"I just see stuff all the time,'' Williams said. "And I've heard comments that people make, like, 'He's going to Dallas.' And people say I'm staying here because I went to Russia – yeah, I went to Russia. I've never been to Russia. AK's (former Utah Jazz teammate Andrei Kirilenko) been telling me to come to Russia for the last six years, so I went to Russia. It was close to Turkey. I went to Turkey because I love Turkey – I played there for three months; I wanted to see my teammates; I wanted to check out some games, so I went to Istanbul.''

Williams intends to make his decision as soon as possible.

"July 1 hopefully,'' he said. "Hopefully I’ll know something.''

Kyrie Irving, Ricky Rubio, Kenneth Faried, Klay Thompson, Iman Shumpert, Kawhi Leonard and Brandon Knight have been voted to the 2011-12 NBA All-Rookie First Team.

On the All-Rookie Second Team is Chandler Parsons, Isaiah Thomas, MarShon Brooks, Derrick Williams and Tristan Thompson.

The following players also received votes:

Markieff Morris, Phoenix, 7 (1); Kemba Walker, Charlotte 7; Alec Burks, Utah 2; Norris Cole, Miami 2; Bismack Biyombo, Charlotte 2; Enes Kanter, Utah 1; Greg Stiemsma, Boston 1; Gustavo Ayon, New Orleans 1; Nikola Vucevic, Philadelphia 1.

Dwight Howard still prefers a trade from the Magic, according to a source.

Orlando announced that the tenures of Stan Van Gundy and Otis Smith were over on Monday, but Howard still seeks a trade before the start of the season, according to the source.

The Nets are considered the frontrunner, but "it is not going to be a one-horse race,” the source said. The Mavericks and Knicks are also in the conversation, while the Lakers and Clippers are as well to a lesser extent.

Howard is eager to begin the next phase of his career and the Magic don't want a repeat of circumstances they endured during the 11-12 season.

Executives from the Magic are expected to meet with Howard soon and will accomodate his trade request should he ask for a trade.

The team that is able and willing to take back the contract of Hedo Turkoglu is likely to have an edge in trading for Howard.

Adam Morrison competed in the start of a three-day mini-camp staged by the Nets in East Rutherford.

“He knows how to play. Unfortunately he didn’t have a point guard who could find him because he came off screens open,” Nets general manager Billy King said. “But he knows how to set himself up, come off screens. He didn’t make some shots early, but he got them to go. One thing, we know he can do that."

Morrison was selected by Michael Jordan and the Charlotte Bobcats with the third pick of the 2006 draft.

“I understand I’m never going to shake being a bust or being a failure in some people’s eyes,” said Morrison. “I’ve experienced a lot of highs in basketball, so I guess you could call it a hardship, but it’s really not. I get to play basketball for money. That’s pretty good.”