Has Mark Williams earned a contract extension with the Hornets?

Mark Williams has been on a pretty hot streak since his failed trade to the Los Angeles Lakers. Perhaps most importantly, he's been pretty healthy, only missing some back-to-backs as a precaution for former injuries. He's also played well, showcasing the level of play the Charlotte Hornets could actually use.
Williams can be extended after the conclusion of his third season in the NBA, which would be this season. Even though the Hornets tried to get rid of him (though they maintain that the Lakers approached them, not the other way around), an extension might not be off the table.
Since the failed trade, Williams has been incredible. He's played 17 games since February 9, averaging 15.1 points, 10.9 rebounds, and 2.6 assists. He's shot well and had a few dominant games since then.
Williams had 26 points and 16 rebounds against the Dallas Mavericks on February 27. He had 24 and 10 in a win over the Miami Heat on March 10. He recorded 18 points, 15 rebounds, and seven assists against the Los Angeles Clippers on March 16. The center had 19 and 14 in a win over the New York Knicks four days later.
Is that enough to warrant an extension? Ordinarily, yes. Williams has shown that he can be healthy and can play at a high level for the Hornets. He's very young, so the makings of a long-term extension are there. However, this is not an ordinary situation.
The fact that the Hornets tried to trade Williams already throws a wrench in this. They were able to get a great return to set up their rebuild well. They probably wouldn't get the same return again this time, but he can fetch a nice package.
It is expected that Charlotte will try to trade him again this summer and that virtually rules out an extension. Even if they're unsuccessful or decide against it, don't expect a contract extension. Williams has played well but not so well that he demands to be locked down for the next five years.
The Hornets will have two more chances to trade him (this summer and at next trade deadline) before he enters restricted free agency where they'll still have all the leverage. It wouldn't be wise of them to extend him before they at least see what they can get for him and if the team can win.
If the Hornets win the Cooper Flagg sweepstakes and become a competitive team by next year, then maybe an extension is in order. If they don't and remain a rebuilding team, then no, they should not extend Williams until they know they can be a contender with him.
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