Light up the fireworks and break out the balloons and streamers; the Golden State Warriors keep their draft pick in the 2012 NBA Draft.

The Warriors, who were represented by GM Bob Myers and owner Peter Guber at the 2012 NBA Draft Lottery on Wednesday, will pick seventh in the upcoming draft. The Warriors needed at least the number seven pick, or else it would be property of the Utah Jazz, thanks to the Marcus Williams trade.

Golden State entered the draft lottery with the seventh-worst record in the league. They had a 72 percent chance of keeping their pick, and the odds (for once) went in their favor.

There were no changes in picks fourteen through eight, meaning that the Warriors would have at least the seventh pick. They could only lose the pick if a team with a better record ended up in a higher draft slot. 

The Warriors are still not completely out of the woods yet, as next year's pick will be top-six protected (they would need at least the sixth pick, or else it would go to the Jazz).

Here is how the lottery played out:

1. New Orleans Hornets

2. Charlotte Bobcats

3. Washington Wizards

4. Cleveland Cavaliers

Warriors16_0037_pc-600x478_crop_exact Warriors GM Bob Myers

5. Sacramento Kings

6. Brooklyn Nets (pick goes to Portland)

7. Golden State Warriors 

8. Toronto Raptors

9. Detroit Pistons

10. New Orleans Hornets

11. Portland Trail Blazers

12. Milwaukee Bucks

13. Phoenix Suns

14. Houston Rockets