It appears that they are gearing up for such an effort.
The Hornets declined the fourth-year options of forward Al-Farouq Aminu and guard Xavier Henry, per John Reid of NOLA.com. They could still re-sign those players after this season, but if they do it will likely be at lower prices than those options would have required.
That will clear up cap space for the Hornets to be an active player in the free agent scene in 2013.
There are quite a few different players New Orleans could go after, but there are less who would actually make sense on its roster playing alongside Anthony Davis.
The Hornets do not need stars necessarily, but they do need the type of players who can fit around Davis and Eric Gordon.