2017 NBA free agency grades: Michael Carter-Williams to sign with Charlotte Hornets

CHICAGO, IL - MARCH 23: Michael Carter-Williams of the Chicago Bulls meets fans at the Forever 21 x NBA Collection Launch Party on March 23, 2017 in Chicago, Illinois. (Photo by Jeff Schear/Getty Images for Forever 21)
CHICAGO, IL - MARCH 23: Michael Carter-Williams of the Chicago Bulls meets fans at the Forever 21 x NBA Collection Launch Party on March 23, 2017 in Chicago, Illinois. (Photo by Jeff Schear/Getty Images for Forever 21) /
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The Charlotte Hornets and Michael Carter-Williams agreed to a one-year, $2.7 million deal.

The 2017 NBA free agency period has been moving at a rapid pace. The point guard market has especially been drying up.

Jrue Holiday, Patty Mills, and Jeff Teague were off the board within hours of free agency beginning. Kyle Lowry also re-upped with the Toronto Raptors.

With point guards flying off the board, the Charlotte Hornets decided not to wait around. They decided it was the right time to sign free agent point guard, Michael Carter-Williams.

Carter-Williams and the Hornets agreed to a one-year, $2.7 million deal, according to ESPN‘s Chris Haynes.

Looking at the free agent market, the best point guard left on the board is probably George Hill. But the Hornets are not in the market for a starting point guard as they already have Kemba Walker in that role. Instead, the Hornets were in the market for a backup point guard.

It was the same conundrum that the Hornets were in last season. They decided to fill the backup point guard spot with Ramon Sessions, agreeing to a two-year, $12.5 million deal. The second year of the deal was a team option for $6.27 million, which the Hornets declined. Now they will have Carter-Williams filling that role on a one-year deal.

The Hornets had to act fast, as Carter-Williams looked to have a developing market. According to Michael J. Spears of The Undefeated, the New York Knicks, Oklahoma City Thunder, New Orleans Pelicans, Dallas Mavericks, and Houston Rockets were also in touch with him.

The need was there for Carter-Williams, so the fit makes sense with the Hornets. But, what the Hornets could really use was a floor-spacer in the backcourt. Carter-Williams will not provide that.

Charlotte was below-average making three-pointers last season, connecting on only 35.1 percent of their attempts, which ranked 18th. But they attempted the ninth-most three-pointers in the league, averaging 28.6 three-point attempts per game.

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Carter-Williams will not help in that area. In his career, Carter-Williams has shot an underwhelming 25.2 percent from beyond the arc. The Hornets traded away one of their best three-point shooters in Marco Belinelli to acquire Dwight Howard. Carter-Williams won’t help replace his three-point shooting prowess, but first round draft pick Malik Monk will.

Speaking of Monk, the timing of the Carter-Williams signing was peculiar. Monk, who is not participating in the Orlando Summer League, had an interview during one of the Hornets games.

Monk discussed his family, how he was spending his time in Orlando despite being injured, and his confidence level. What Monk also discussed was how the Hornets are going to use him during the regular season.

"“Drafted as a shooting guard, Monk said he expects to also see some action at point guard with the Hornets.“‘We’ve been talking about me playing both (guard spots), and I’ve just got to get comfortable with both.’”"

If the Hornets want to groom Monk as a point guard, signing Carter-Williams to fill that role makes little sense. However, one of the knocks against Monk is his size. Coincidentally, a strength of Carter-Williams is his size. The two should be able to play alongside each other given their playing styles, strengths and weaknesses.

Overall, this is a solid deal for the Hornets. They are not committing many funds to Carter-Williams, as it is only a one-year deal for under $3 million. Carter-Williams has some upside, as he was Rookie of the Year just three seasons ago. He will provide some solid insurance in case Walker gets hurt, as he has plenty of starting experience already.

Based on the price and potential role, this was a great deal by the Hornets. If he plays well, Carter-Williams could parlay this into a multi-year deal.

Next: 2017 NBA free agency tracker - Grades for every deal so far

Grade: A