Shams Charania of The Athletic and Stadium added that Williams plans to sign with the Milwaukee Bucks once the buyout is complete. Wojnarowski added: "Milwaukee is waiving Dragan Bender, clearing the way to sign F Marvin Williams as soon as Monday, league sources tell ESPN. Williams buyout is complete with Charlotte and will be waived as soon today."
The 15th-year veteran has averaged 6.7 points, 2.7 rebounds and 1.0 assist per game while shooting 44.8 percent from the field in 41 games this season.
"Well-respected veteran presence who can guard multiple positions and is a respectable three-point shooter," ESPN's Tim Bontemps wrote of Williams when Wojnarowski's report came out.
It's easy to see why Charlotte would agree to the buyout. The Hornets have gone all-in on developing the young core of Devonte' Graham, PJ Washington, Miles Bridges and Malik Monk. Williams provides some value, but he's struggled to see the floor as Charlotte lets its young stars learn on the fly.
Williams started just one game this season and has averaged 19.7 minutes per night. After five-plus seasons with the Hornets, the fit no longer made sense, though it's fair to wonder why the team didn't deal him before the deadline.
Charania reported in December that multiple teams were "monitoring the trade availability" of Williams, and even second-round picks would help general manager Mitch Kupchak get the franchise back on track after it lost Kemba Walker in the offseason.
Now the NBA's top team will add to its stacked lineup by picking up a veteran free agent who was expected to have his choice of contenders on the open market.