The party celebrating the Miami Heat’s NBA World Title is still going on in South Beach, but the 29 other teams in the league are already busy with their own title plans for next season. The following is a look and some of the more relevant news and notes for this week in the NBA.

2012 NBA Draft

The 2012 NBA draft was held last week and as expected, the New Orleans Hornets selected Kentucky forward Anthony Davis with the first overall pick. While the addition of Davis will certainly help put some fans in the seats for new team owner, Tom Benson, who also owns the Saints, but do not expect any miracles from a team that has been opened at +4000 to win the Western Conference and +10000 to win an NBA title.

Chris PaulRounding-out the rest of the top five were Davis’s teammate at Kentucky, Michael Kidd-Gilchrist going to Charlotte at No.2, Florida guard Bradley Beal going to Washington third, Syracuse guard Dion Waiters going fourth to Cleveland, and Sacramento Kings selecting Kansas forward Thomas Robinson with the fifth overall pick.

2012 NBA Free-Agency

Following closely on the heels of the college draft was the start of this offseason’s free agency signing period. While as of Monday afternoon, there were no major deals announced, the open market is heating up with players such as Steve Nash, Deron Williams, Kevin Garnett, and Ersan Ilyasova commanding attention as the top unrestricted free agents. Eric Gordon, Roy Hibbert, Brook Lopez, and Nicolas Batum are some of the top names heading-up the list of restricted free agents.

Toronto is reportedly very interested in signing Nash and has offered him as much as $36 million for a three-year deal that would bring the native son back home to Canada. Williams is considering resigning with the New Jersey (or Brooklyn) Nets or possibly entertaining an offer from Dallas to help the Mavericks get back to the NBA Finals. Much of the talk has centered on Dwight Howard in Orlando. He still has a year left on his deal with the team, but the on again-off again love affair between Howard and Magic is apparently back off, which has everyone talking about offseason trade that might send the All-Star center to Brooklyn if the Nets can find a way to keep Williams with the team as well.

Clippers lock-up Griffin for five more years

The Los Angeles Clippers took a significant step towards protecting their future by signing their All-Star forward Blake Griffin to a five-year extension that is reportedly worth up to $95 million. This means that Griffin will be with the team for at least the next six seasons and make an estimated $7.2 million next season.

The Clippers also offered a three-year extension to guard Chris Paul that was worth close to $60 million, but he decided to play the waiting game and decline the deal. He will be in the final year of a contract that will pay him $17.7 million next season. Paul has already told sources that he plans to wait until the end of next season before agreeing to any new deals.