That person spoke to The Associated Press on condition of anonymity because a three-team deal between the Dallas Mavericks, Clippers and Jazz is contingent on Williams exercising his $8.5 million player option for next season. That person said that was expected to happen by Friday.
Williams was drafted by the Jazz in 2003, and played 57 games as a rookie before going to Milwaukee, Cleveland and then the Clippers.
The Jazz are in position to absorb Williams' salary without sending a player to Dallas by using a trade exception created last season when they dealt Mehmet Okur to New Jersey.
Dallas faced a Friday deadline on a $2.4 million buyout of Odom's $8.2 million option for next season. Now the Mavericks instead will have an $8.2 million trade exception, similar to what they used to acquire Odom from the Los Angeles Lakers last December before the lockout-shortened season.
The Dallas Morning News first reported that a deal had been struck.
Odom, drafted fourth overall by the Clippers in 1999, is coming off an underwhelming 50-game stint with Dallas that didn't even take him through the entire season. He was the NBA's Sixth Man of the Year for the Lakers for the 2010-11 season.
The Mavericks on April 9 said Odom would be inactive for the rest of the season, when the then-defending NBA champions still had nine regular season games left and were making their push toward the playoffs. That move came two days after a heated halftime exchange during a game between Odom and Dallas owner Mark Cuban, who questioned the player's commitment to the team.
Odom's averages of 6.6 points, 4.2 rebounds and 20.5 minutes in Dallas were career lows. The 32-year-old Odom has averaged 14.2 points and 8.6 rebounds in 879 career games.
Williams averaged 13.2 points and 3.1 assists in 52 games last season for the Clippers, who acquired him in a trade from Cleveland in February 2011. In 589 career games, he has averaged 13.8 points and 4.9 assists a game.
The Jazz took Williams 47th overall in 2003, coincidentally the same pick they had in Thursday night's draft.
The Jazz have spoken highly of Williams since they failed to re-sign him after just one season.
Utah already has Devin Harris at point guard, having acquired him as part of the blockbuster deal that sent superstar Deron Williams to the New Jersey Nets in 2011. But team officials told The Associated Press they could make it work with both Harris and Williams.
Harris, who like Mo Williams is 29, got off to a slow start with the Jazz but finished last season strong, averaging 11.3 points and 5.0 assists.
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