Why is Mark Williams trade rescinded? Major update on Lakers' transaction with Charlotte Hornets

The trade between the Charlotte Hornets and the Los Angeles Lakers for Mark Williams has been rescinded. The major development emerged on Saturday evening following the Lakers’ 124-117 victory over the Indiana Pacers at Crypto.com Arena in Los Angeles.

The Lakers later announced that the trade was revoked due to the Hornets' inability to meet a specific condition required for the deal to be finalized.

Earlier it was reported that the Lakers acquired Mark Williams from the Charlotte Hornets in exchange for rookie Dalton Knecht, veteran forward Cam Reddish, a 2030 pick swap and an unprotected 2031 first-round pick.

The trade between the Lakers and Hornets was contingent on Mark Williams and Dalton Knecht reporting and passing their physicals. With the deadline now expired, the deal could not be modified or restructured.

As a result, Williams will return to Charlotte and remain with the Hornets for the rest of the season. Meanwhile, Knecht and Reddish will rejoin the Purple and Gold. Additionally, the draft assets involved in the trade: the 2030 pick swap and the unprotected 2031 first-round pick have been voided.

Multiple issues with Mark Williams' medical exam

NBA insider Shams Charania revealed that Mark Williams did not pass his medical exam with the Lakers. The 7-foot-2 center reportedly faced multiple physical concerns following the team's medical evaluation.

"Mark Williams' physical with the Lakers showed multiple issues and the team failed him on the exam, sources tell ESPN," Charania tweeted. "The physical was not failed due to his back, however."

With the trade now rescinded, the Lakers expect both Dalton Knecht and Cam Reddish to rejoin the team. Notably, Reddish had been away from the squad prior to the trade deadline due to personal matters.