The Charlotte Hornets current front office has never been a group to shy away from trades, and it looks like they're already working on another one. According to Adrian Wojnarowski of Yahoo! Sports, the Hornets are currently looking at doing a sign and trade with current free agent Mo Williams
Charlotte has shown a strong willingness to use its free agent guard Mo Williams in a sign-and-trade, league sources tell Yahoo.— Adrian Wojnarowski (@WojYahooNBA) July 3, 2015
Williams, acquired at last year's trade deadline for Gary Neal, is a solid backup scoring guard that's unlikely to stay with the Hornets. Despite his solid play with the team last year, Williams is more interested in signing with a current contender than he is in helping Charlotte become a playoff team. His years around the league surely has gained him a reputation as a great locker room presence, and his play on the court is still at a high enough level that teams have no problem bringing him on to strengthen their point guard depth.
With Williams so likely to leave, it makes sense why Charlotte would want to try and receive what they can for him in a trade. It's always better to receive compensation in a trade instead of letting him walk for nothing. The problem is the Hornets have absolutely no leverage in this situation, and this limits the kind of players teams are willing to send them. Charlotte would have to be open to receiving pieces other teams don't want anymore, or are just trying to dump off for the cap space to bring on Williams. That said, Charlotte could use a backup point guard, and it wouldn't hurt if they traded Williams for a backup point guard that another team just doesn't have a use for anymore.
All of that said, this hasn't ruled out the possibility of Williams returning to the Hornets. If he's unhappy with what he's being offered elsewhere, and there's mutual interest between him and Charlotte, then a return is not out of the question.