They both can resign but must wait 30 days. It also assumes that they get no offers from any other teams and if they DO get offers, they are willing to turn them down on the hopes that the Kings will take the financial hit of waiving two other players in order to resign them. Perhaps the financial hit is not an issue but I get lost in the math.
I suspect if some team dangles a contract in front of them, they'll take it and not wait to see what the Kings want to do but then that is speculation. They can't afford to be out of the NBA.
This is getting complicated.
_________________________
I'm not sure if the 30 days applies in this case. According to Larry Coon's NBA Salary Cap FAQ it states:
54. What are waivers?
It's a temporary status for players who are released by their team.
A player released between August 15th and the end of the regular season stays on waivers for 48 hours. A player released at any other time stays on waivers for seven days. During the waiver period other teams may claim a waived player. If more than one team tries to claim the player, the team with the worst record gets him. If a player on waivers is claimed, the new team acquires his existing contract and pays the remainder of his salary. There is also a fee of
$1,000, payable to the league office, for claiming a waived player.
A team can claim a waived player only if one of the following is true:
- The team is far enough under the salary cap to fit the player's entire salary.
- The team has a Disabled Player exception for at least the player's salary (see question number 19).
- The team has a Traded Player exception for at least the player's salary (see question number 69).
- The player's contract is for one or two seasons and he is paid the minimum salary.
If no team claims a waived player, he is said to have "cleared waivers." The player may sign with a new team of his choice, and the player's prior team continues to pay the guaranteed portion of the terminated contract (see question number
90 for more information). The player's salary with his new team is a matter of negotiation. Few players are actually claimed while on waivers, since the team claiming a waived player inherits his entire contract. It is far more common for teams to wait for the player to clear waivers, and then sign him to a much smaller (even minimum salary) contract.
If a player is waived after March 1, he is ineligible to be included in the playoff roster of any team that signs him for the remainder of that season.
If a team trades a player and the player is waived by the receiving team, the player's original team cannot re-sign that player for 30 days (during the season) or 20 days (during the offseason) following the date of the trade.
http://members.cox.net/lmcoon/salarycap.htm#54
Since he was not traded, I'm not sure if the Kings can't just claim him off waivers if any of those conditions listed exist or wait until he clears and in essence give him a little bonus for the remainder of the year if they so choose. I wouldn't mind seeing him (Williams) back if they could unload one of the new PGs such as Lou to Phoenix.