The Charlotte Hornets have agreed to a one-year, $2.7 million deal with Michael Carter-Williams, a source told ESPN's Jeff Goodman and Chris Haynes.

Carter-Williams was an unrestricted free agent after the Chicago Bulls decided not to extend him a qualifying offer.

The 25-year-old Carter-Williams was the 2013-14 NBA Rookie of the Year with the Philadelphia 76ers. Then he was traded twice in the next two years: first to the Milwaukee Bucks in February 2015, then to the Bulls just before the start of the 2016-17 season.

The 6-foot-6 guard struggled with the Bulls. He was in and out of the rotation (just 19 starts), hampered by knee pain (just 45 games played), and he averaged just 6.6 points and 2.5 assists -- well below his career averages of 13.0 and 5.4.