The Cleveland Cavaliers have the first overall pick.
While some are calling this one of the weakest drafts in recent memory, there should be plenty of excitement to see where Kemba Walker, Jimmer Fredette and Kyrie Irving are all playing basketball next season.
There will almost certainly be some surprises as well as some epic slides, so let's take a look at what the major needs are of each team set to draft on June 23.
On the Radar: Derrick Williams (pictured, Arizona), Kyrie Irving (Duke), Enes Kanter (Turkey)
The Cavs have a whole lot of work to do in rebuilding the roster.
Although they may lack talent to be competitive with their current makeup of players, the infusion of youth coming into Cleveland should help to rebuild an exciting brand of basketball.
The city desperately needs a lift after the dud of a season that the Cavs endured, and especially since LeBron James is still playing.
On the Radar: Kyrie Irving (pictured, Duke), Enes Kanter (Turkey), Derrick Williams (Arizona)
The Minnesota Timberwolves better make a big splash at the front end of this season's NBA draft.
Perhaps the biggest challenge facing David Kahn and co. to date, if the front office manages to once again fumble this pick away, it'll spell the end of their chances of keeping Kevin Love in town.
On the Radar: Donatas Motiejunas (pictured, Lithuania), Kemba Walker (UConn), Brandon Knight (Kentucky)
The Jazz are going to go big with this pick. If they don't, they're setting themselves up for a massive disappointment.
Motiejunas is immensely talented, and after staying away from the draft over the last two years, he has finally thrown his name into the ring. He'd be a natural fit in Utah as a replacement for Mehmet Okur.
On the Radar: Jonas Valanciunas (pictured, Lithuania), Brandon Knight (Kentucky), Kemba Walker (UConn)
The Cavs have two lottery selections in the same draft, which should tell you all that you need to know about the current state of their roster.
There are several holes on the roster to address, but there should be a special emphasis on both guard positions as well as center.
On the Radar: Kemba Walker (UConn), Tristan Thompson (Texas), Enes Kanter (pictured, Turkey)
If the Raptors don't address the point guard position in this draft, perhaps the team needs to re-evaluate its draft strategy.
Hopefully for the Canadian franchise, whomever they select can come in and make last season a very distant memory.
On the Radar: Jan Vesely (pictured, Czech Rep.), Kemba Walker (UConn), Enes Kanter (Turkey)
The Wiz desperately need an infusion of talent to play alongside John Wall, and small forward is the most obvious area of need.
However, the team could elect to take the top talent available in the hopes of either working out a trade or simply rolling out an unconventional lineup.
On the Radar: Kemba Walker (pictured, UConn), Brandon Knight (Kentucky), Enes Kanter (Turkey)
The Kings need to find a way to upgrade their production on the court if they want to remain in Sacramento for longer than just this season.
Beno Udrih had a nice season, but if the front office passes up an elite talent because of it, it's going to be an awfully frustrating future.
On the Radar: Brandon Knight (pictured, Kentucky), Kawhi Leonard (SDSU), Reggie Jackson (BC)
The Pistons endured a season ridden with turmoil in 2010-11, and if they hope to turn it around next year they're going to have to make a big splash.
They've got plenty of potential along the front line, but the backcourt is another story entirely. Any of the above candidates would serve as a serious upgrade.
On the Radar: Bismack Biyombo (pictured, Congo), Kawhi Leonard (SDSU), Brandon Knight (Kentucky)
The Bobcats could really use a lengthy frontcourt player like Biyombo to bolster the look of an underwhelming area of the team, but then again so could a number of other clubs.
This team has a nice piece in Gerald Henderson, but he's out for four to six months after undergoing hip surgery, and there's no telling how he'll react once he begins the rehab process.
It should be interesting to see what area they put a special emphasis on through the draft.
On the Radar: Marcus Morris (pictured, Kansas), Tristan Thompson (Texas), Bismack Biyombo (Congo)
The Bucks have a major area of concern along the front line.
Andrew Bogut, as talented as he may be, is an accident waiting to happen. Drew Gooden was solid down the stretch, but to rely on him in a full-time role would be rather shortsighted.
The ideal scenario has Brandon Jennings playing alongside Biyombo, but Milwaukee may not opt for international talent considering how the Yi Jianlian pick turned out.
On the Radar: Kawhi Leonard (pictured, SDSU), Marcus Morris (Kansas), Jonas Valanciunas (Lithuania)
The Warriors are likely to go with an athletic selection, and they'd be very fortunate to obtain Leonard.
They certainly need an upgrade in the middle with Andris Biedrins' lack of production, so Valanciunas could be a natural fit in the middle.
But will they really gamble on another European big man?
On the Radar: Alec Burks (pictured, Colorado), Jimmer Fredette (BYU)
Every other slide on this list has three names on the radar, but that's how confident I am about this pick.
The team needs a starting shooting guard desperately since they can play Gordon Hayward at the 3, and Burks is an extraordinary talent who will likely be drafted later than he should.
If the Jazz are serious about rebuilding the roster, shooting guard should be a top priority.
On the Radar: Jimmer Fredette (pictured, BYU), Jordan Hamilton (Texas), Tristan Thompson (Texas)
The Suns have a lot of moving pieces right now, and the sooner they blow it up and start over, the better they'd be for the long run.
They're unlikely to address the point position, but Vince Carter is an afterthought and the need for a dynamic shooting guard should be at the forefront of the list.
Could it be Jimmer-mania in the desert?
On the Radar: Markieff Morris (pictured, Kansas), Jordan Hamilton (Texas), Kawhi Leonard (SDSU)
The Rockets could look like a very different team next season.
They could look to pursue an upgrade along the front line as alluded to earlier, but with multiple picks they have the fortune of addressing several areas of needs.
Any of the above listed players could be a dynamic player in a sixth-man role.
On the Radar: Jimmer Fredette (BYU), Jordan Hamilton (pictured, Texas), Chris Singleton (FSU)
The Pacers aren't going to make a selection Paul George-esque in 2011.
With the first pick just outside of the lottery, the Pacers would be wise to pursue some help behind Danny Granger, because he's increasingly more efficient when he's not forced to log major minutes.
With Brandon Rush and Mike Dunleavy Jr. rotting at the end of the bench, you know that the Pacers are desperate for someone who can contribute.
On the Radar: Kenneth Faried (pictured, Morehead State), Klay Thompson (Wash. State), Markieff Morris (Kansas)
The Sixers are all set with point guard with a young Jrue Holiday, and they're probably not going to find a deal to their liking for small forward Andre Iguodala, either.
They could definitely use some help behind Elton Brand since Marreese Speights seems to be out of Doug Collins' rotation permanently, and there's little belief around the city that Jodie Meeks is a permanent answer as the starting 2-guard.
This could be a critical selection for the Sixers, who could really benefit if they use the pick in the proper manner.
On the Radar: Tristan Thompson (pictured, Texas), Kenneth Faried (Morehead State), Markieff Morris (Kansas)
The Knicks find themselves in a tenuous position just outside of the lottery.
They have a glaring need for backup big men and a true starting center, but unfortunately they probably won't find the latter in this year's draft.
Their best bet would be to pursue a legitimate option to back up Amar'e Stoudemire off of the bench considering that he's never exactly been a harbinger of perfect health.
On the Radar: Klay Thompson (pictured, Wash. State), Jimmer Fredette (BYU), Chris Singleton (FSU)
The Wizards would be wise to let Nick Young walk via free agency given the impressive play of Jordan Crawford, but by no means should they consider the position covered.
The team needs a small forward, but they're is likely going to address that earlier in the draft or through free agency, leaving this pick open for a shooter.
Thompson rivals Fredette to be the best pure shooter in the pool of candidates, so it should be interesting to see if either goes to the Wiz.
On the Radar: Reggie Jackson (pictured, BC), Chris Singleton (FSU), Jimmer Fredette (BYU)
Fredette could be in for an epic slide in the draft, and if he falls into the lap of the Bobcats, Michael Jordan has already shown an inclination to pick white snipers.
The Bobcats are a very fluid team whose look could change drastically depending upon who they select, but the best scenario would have Jackson falling into their lap.
They're clearly still unsold on D.J. Augustin as a long-term answer.
On the Radar: JaJuan Johnson (pictured, Purdue), Nikola Mirotic (Montenegro), Klay Thompson (Wash. State)
The T-Wolves need to upgrade several pieces on the roster, but they can't do it all with just one pick.
Kevin Love is a good start along the front line, but he's just the start. The team could look for a shooter to start at the 2-guard or even pursue a center to bolster the defensive end.
It's going to be hard for David Kahn to screw this one up considering that just about anyone they pick up will be an upgrade over what they've got.
On the Radar: Nolan Smith (pictured, Duke), Reggie Jackson (BC), Klay Thompson (Wash. State)
The Blazers need to address their guard position for the future.
Granted that the center position is obviously a major area of need, there aren't a lot of attractive options at the position with the team's draft slot at No. 21.
Nolan Smith could be exactly the type of player who could develop into a very capable starter down the line for this team.
On the Radar: Tobias Harris (pictured, Tennessee), Chris Singleton (FSU), Jon Leuer (Wisconsin)
The Nuggets undoubtedly improved their team for the long-term with the Carmelo Anthony trade, but overpaying impending free-agent Wilson Chandler makes very little sense.
They're going to face stiff competition to retain center Nene Hilario, so instead of trying to fill the small forward void via free agency, they should look to do it in the draft.
Leuer might be a bit of a reach here, but Harris is a very real possibility and should develop into a very nice player shortly.
On the Radar: Darius Morris (pictured, Michigan), Chris Singleton (FSU), Lucas Nogueira (Brazil)
There's no doubt that the Rockets could use help along a dramatically undersized front line, but with Yao's expiring contract coming off of the books, that may be better addressed via the free-agency process.
Given the fragility of Kevin Martin, it wouldn't be the worst idea for the Rockets to address the need for a legitimate second option at the position.
They could even pursue an alternative to Chase Budinger, and make him earn the starting spot in training camp rather than just hand him something that he hasn't fully earned quite yet.
On the Radar: Tyler Honeycutt (pictured, UCLA), Marshon Brooks (Providence), JaJuan Johnson (Purdue)
Similar to the Dallas Mavericks, this young and rising Thunder team doesn't have a lot to be addressed through the draft.
Although the team has seen great benefit from the arrival of Kendrick Perkins from Boston, there is definitely a void that was left when Jeff Green was shipped out of town. His athleticism and versatility are elements that are often hard to recreate.
The team can afford to gamble on a kid with a load of talent who can play as a backup to K.D. and Serge Ibaka, allowing Scott Brooks to once again throw multiple looks at the opposition throughout the contest.
On the Radar: Jordan Williams (pictured, Maryland), Darius Morris (Michigan), Charles Jenkins (Hofstra)
The Celtics are highly likely to undergo a serious re-assessment of the current construction of the team roster prior to draft night, but nobody needs to analyze anything to see they need help in the middle.
Unfortunately, that's not their only area of concern. The team also needs a dynamic scoring option off of the bench to help anchor the second unit as well as a legitimate backup to veteran Ray Allen.
The bench will almost certainly have an entirely different look next season, and perhaps rolling out a few rookies with fresh legs wouldn't be the worst idea for a Celtics team whose lack of athleticism was clearly exposed in the postseason.
On the Radar: Travis Leslie (pictured, Georgia), JaJuan Johnson (Purdue), Tyler Honeycutt (UCLA)
The Mavericks might not have a roster full of stars, but this is one of the deepest teams in the league all the way through the 12th man at the end of the bench.
They're not going to be looking to supplement their current makeup of talent too drastically, so a European prospect may be a very realistic scenario for the team.
However, there's a plethora of talent at the small forward position to be had in the back end of the draft, and that's an area the Mavs have needed a long-term answer at for far too long.
On the Radar: Justin Harper (Richmond), Davis Bertans (Latvia), Nikola Mirotic (Montenegro)
Deron Williams and Brook Lopez are just about the only sure things on the New Jersey roster. Outside of the two stars, there isn't a whole lot to like.
I really like Harper here for the Nets, who could desperately use an upgrade at the small forward position over Travis Outlaw. This kid has the size (6'8") to guard some of the bigger players at the 3, and he's the type of hybrid that could even shift to the 4 spot if the team goes small.
If they don't want to roster another rookie and rather run with a veteran pack in an attempt to compete, the Nets could entertain the idea of stealing a talent like Mirotic, whose contract situation will force him to slide considerably in the June draft.
On the Radar: Justin Harper (Richmond), Charles Jenkins (Hofstra), Trey Thompkins (pictured, Georgia)
The Bulls have two of the last three picks in the first round, so it's very possible that the team attempts to package those selections in an attempt to move up in the order.
If they do choose to stand pat, both Harper and Thompkins are major talents and a supreme value if they fall this far, but they don't really fit Chicago's needs with Boozer, Gibson and Asik all aboard.
Charles Jenkins, a shooter in the Ben Gordon mold, could give the team its added perimeter element into the future since both Keith Bogans is just the patch over the hole in the tire.
On the Radar: Josh Selby (pictured, Kansas), Nolan Smith (Duke), Travis Leslie (Georgia)
After the Spurs were bounced in the first round of the postseason by the No. 8 seed Memphis Grizzlies, it's clear that the club needs an infusion of youth in a very bad way.
The backcourt pairing of Tony Parker and Manu Ginobili certainly isn't going to last forever, and the sooner they draft an eventual complement to James Anderson, the better.
Selby would have done himself a major favor to his draft stock by sticking in school for another season, but he'll instead turn pro and most likely prove to be a major bargain for whichever teams selects him.
On the Radar: Kyle Singler (pictured, Duke), Chandler Parsons (Florida), Charles Jenkins (Hofstra)
The Bulls aren't a team that needs a whole lot on paper, but some depth at the small forward position behind Luol Deng would be a wise investment.
If Singler is still available when the inaugural round comes to a close, Chicago would be wise to take the four-year college veteran and let him become a contributing member of the second unit as a shooter off of the bench.
There is also the chance that the team chooses to roll the dice on a European prospect and let him develop overseas for a couple of seasons, especially with the possibility of a looming lockout.