A record 24 teams will compete at the 2012 NBA Summer League in Las Vegas.  From July 13-22, 23 NBA teams, including 11 that participated in the NBA Playoffs, as well as a team of NBA D-League Select players will compete in Las Vegas.

The  2012  competition will mark the eighth summer that the league has been held in Las  Vegas since its inception in 2004. Each of the participating teams will play five game each for a total of 60 contests over the course of the event’s ten days.

The 2012 field for NBA Summer League (years participated) will be the following:

Atlanta Hawks (2010)*
Boston Celtics (2004-07)*
Charlotte Bobcats (2008) 
Chicago Bulls (2005, 2009-10)*
Cleveland Cavaliers (2004-10)
Dallas Mavericks (2005-10)*
Denver Nuggets (2004-10)*
D-League Select (2009-10)
Golden State Warriors (2005-10)
Houston Rockets (2006-10)
L.A. Clippers (2005-10)*
L.A. Lakers (2007-10)*
Memphis Grizzlies (2007-10)*
Miami Heat (2010)*
Milwaukee Bucks (2007-10)
Minnesota Timberwolves (2006-10)
New Orleans Hornets (2005-10)
New York Knicks (2005-10)*
Phoenix Suns (2004-10)
Portland Trail Blazers (2005-10)
Sacramento Kings (2005-10)
San Antonio Spurs (2007-10)*
Toronto Raptors (2008-10)
Washington Wizards (2004-10)

*Indicates 2011-12 NBA Playoff team.

LeBron James, Kevin Durant, Chris Paul, Kobe Bryant and Dwight Howard have been named to the All-NBA First Team.

Tony Parker, Kevin Love, Blake Griffin, Russell Westbrook and Andrew Bynum comprise the All-NBA Second Team.

Rajon Rondo, Dwyane Wade, Carmelo Anthony, Tyson Chandler and Dirk Nowitzki received All-NBA Third Team honors.

There are 10 teams with representatives on the three teams, with the Wolves (Love) being the only non-playoff team. The Hawks, 76ers, Pacers, Bulls, Grizzlies, Nuggets and Jazz each made the playoffs without a representative. Chicago was tied for the best record in the NBA and did not have an All-NBA representative.

James received 118 out of a possible 120 first team votes, while Durant received 117 first team votes.

Wade finished four points behind Westbrook for the second guard position on the second team.

Mark Cuban purchased over $4.8 million worth of Facebook shares.

In a post entitled 'Facebook IPO Post Mortem - Killer - but not for the reasons you think!', Cuban discloses that he purchased three sets of 50,000 shares of Facebook at $33, $31.97 and $32.50 apiece.

Cuban was critical of the Facebook IPO, citing the effect it will have on individual investors and that the valuation bubble of Silicon Valley companies is bursting.

Cuban described his purchase of Facebook stock as "a trade, not an investment. Kind of like buying a Mickey Mantle, a Hank Aaron and a Barry Bonds Rookie Card knowing there is a card show in town next week."

Lamar Odom is owed $8.2 million in 2012-13, the final year of his contract, but can be bought out this summer for $2.4 million.

A source says Odom has the Knicks "on the top of his list" in the event he becomes a free agent.

"Lamar is big on being comfortable," the source said. "And New York is somewhere he can be comfortable."

Odom averaged career-lows of 6.6 points and 4.1 rebounds in 50 games with the Mavericks.

"It definitely won't be the fiasco that it was last year," the Odom source said of the 13-year veteran's approach to 2012-13. "He wants to find a place where he can end his career, and New York is ideal. He's won championships in the past and he wants to win another. And to do it there would be great."

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.''

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.

Delonte West said that there is "no question'' he'd like to return to the Mavericks.

"It's in the Lord's hands,'' West said. "All I know is that it's always tough in free agency. I hope I showed this team and the NBA that I'm invested in the future. I kind of really found my groove this year and I'm still a young man, but I also have so much playoff experience.

"I've been to the playoffs (almost) every year and I'm just going into my prime. Once I incorporate the floater into my game, I feel I'll be very valuable to anybody's team. In these playoffs, I see how deep all these teams are and a guard like myself could be very valuable. I've found a home here in Dallas. And I'd like to finish my career out here.''

West signed a one-year deal for the veteran's minimum last December.

Rick Carlisle has agreed to a four-year contract to remain head coach of the Mavericks.

Carlisle led Dallas to the 2011 NBA Championship, but followed that up with a four-game exit in the first round of the 2012 Playoffs.

"We are excited that Rick will be back with the Mavericks for at least the next four years," owner Mark Cuban said in a statement. "He is a proven winner, a great teacher and a coach that will help the Mavericks improve as a team and as an organization."

Carlisle has a .635 winning percentage with the Mavericks.

Mike Krzyzewski confirmed that Lamar Odom is still part of the talent pool that could play in this summer’s Olympic Games.

“I felt bad that the year wasn’t a good one for him,” Krzyzewski said of Odom. “He has an opportunity if he comes in shape. He said the [World Championships] were as good an experience as he ever had in basketball. He said, 'I’d love to be given the opportunity to play again.' We would not have won the World Championship without him.”

The final roster will be selected at a training camp that starts in early July in Las Vegas.

“It’s not a tryout,” Colangelo said. “It’s more of a taking inventory where each individual is. Eric Gordon is a good example. He played a week or two of the season. It’s difficult to get a read. We’ll be able to see something in one workout if he’s physically fit.”