Why trading Mark Williams again could be a risky move for the Hornets

Mark Williams was traded to the Los Angeles Lakers for a future first-round pick, Cam Reddish, and Dalton Knecht. The Lakers ultimately felt that Williams' injury history was enough cause for concern to rescind the trade, so he went back to the Charlotte Hornets.
It was a difficult, grueling scenario, probably a nightmare for Williams and it was challenging for the Hornets, too. The expectation is that the Hornets will try to trade the young center again this summer when the window opens up, but there are major risks involved.
The deal for Williams was costly on the Lakers' end, but it wasn't a huge fleece. They got a 23-year-old center who can churn out double-doubles and plays a position the team desperately needed. It was a high price to pay, but it wasn't an overpay despite how the Lakers might have internally felt.
From the Hornets' perspective, it was a great deal. Knecht has more contractual years left before needing an extension, and the future first-round pick was highly valuable. That's where some of the risk lies. No team is going to send a package of equal value to that one for Williams now.
Not only does he have half a year less time to spend with his theoretical new team, but the fact that the Lakers seemingly marked him as damaged goods will only depress his value. Plus, the Hornets had the leverage in that situation, but if everyone expects them to try again (and knows they tried once already), they won't get as good of a deal anyway.
They can still get a good package, but good enough to warrant moving on from a player who can average 15 and 10 and shoot around 60% from the field? That's highly unlikely after all of this, so they risk losing the trade.
The Hornets also risk setting their roster construction back. Williams fits right in with the ages of Brandon Miller and LaMelo Ball, making a decent (on paper) core to build with. Removing one piece of that would set them back a little bit and without as good of a return to offset it.
The Hornets spent years looking for a center to build around. Some would argue that it was the biggest thing hampering them during the back end of the Kemba Walker tenure. James Borrego never really got to coach with a legitimate center, and that hurt them. They found Williams in the draft and he blossomed into a good player, so do they really want to start that search all over again?
Jusuf Nurkic, at 30, isn't the answer to replace Williams. Moussa Diabate, as gifted as he is defensively, doesn't offer much offense and is undersized at the five, so that's not a great backup plan, either.
Maybe they are going to get a center in the draft or try and sign someone in free agency, but most of the options aren't as good as Williams. That may not be a concern for a front office building for the future and clearly prioritizing the distant future over even the next year or two, but it remains a risk with trading Williams again.
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