Report: Charlotte Hornets reach buyout with Marvin Williams

Williams will be able to sign with a contender for the remainder of the 2020 NBA season.

UPDATE: According to Shams Charania of The Athletic, Williams will sign with the Milwaukee Bucks. 

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Marvin Williams' days as a Charlotte Hornet are coming to an end.

According to a report Friday night from ESPN's Adrian Wojnarowski, the veteran forward and the Hornets have reached an agreement on a buyout of his contract. Williams was in the fifth and final year of his contract with the Hornets.

The move makes Williams, 33, a free agent and will allow him to sign with a contender. Williams has never won an NBA title and said earlier this season that he had thought about retirement.

Whichever team lands Williams, they'll be getting a versatile forward who can stretch the floor, rebound and defend. Williams has long been an excellent teammate and a positive influence on the locker room too.

The Rockets, Lakers and Heat could sign Williams and offer him a contract ranging from $1.35 million to $2.85 million.

For the Hornets, a team in a youth movement and rebuild, Williams' calming veteran presence is what they'll miss.

There is certainly interest for Williams out there among other NBA teams. It was reported earlier this season that team's were monitoring his availability for a trade.

Williams has played in 41 games this season, coming off the bench in all but one. His usage is at a career-low, as he's playing just 19.7 points per-game. That statistic, however, is not totally representative of Williams' skill-set, but rather the motives of Hornets' head coach James Borrego this season, who has opted to give minutes and chances to younger players.

The 6-foot-8 UNC product is averaging 6.7 points and 2.7 rebounds per-game this season, but he's shooting a solid 37.6 percent from three-point range and a stellar 86 percent from the charity stripe. Williams is also shooting an outstanding 51.6 percent on corner three-pointers.

Williams entered the league as the second overall pick by the Atlanta Hawks in 2005. He spent two seasons in Utah before signing with the Hornets as a free agent in 2014.