Sources: Hornets finalizing buyout for vet Marvin Williams

The Charlotte Hornets are finalizing a contract buyout for veteran forward Marvin Williams -- clearing the way for him to become a premium target for contending teams, league sources told ESPN on Friday.

Williams, 33, will clear waivers with the remainder of his $15 million expiring salary and become an unrestricted free agent.

Buyout players are eligible for the postseason on their next teams as long as they've completed contract buyouts by March 1.

Williams' ability to defend multiple positions, shoot 3-pointers and deliver high character to a locker room is expected to make Williams a coveted player on the buyout market.

Williams has played with Charlotte since 2014, including stops with Utah (2012-14) and Atlanta (2005-12). He has averaged 25 minutes per game in 49 career playoff appearances, last reaching the postseason with Charlotte in 2016.