LOS ANGELES -- The Lakers said Saturday night that their trade with the Charlotte Hornets for Mark Williams was rescinded, with sources telling ESPN's Shams Charania that the 7-foot center failed Los Angeles' physical exam.

That physical showed multiple issues, sources said. It was not failed due to his back, however.

Williams has played in only 85 out of a possible 212 games (40.1%) through his first two and a half seasons with the Hornets. Los Angeles was confident in his medicals, sources told ESPN at the time the trade was agreed upon.

Lakers vice president of basketball operations and general manager Rob Pelinka expressed confidence in the acquisition after the trade deadline passed Thursday while acknowledging that a physical would need to occur.

"We fully vetted his health stuff, led by Dr. Kris Jones at UCLA Health and Dr. Leroy Sims on our team, and he's had no surgeries," Pelinka said. "So these are just parts of, he's still growing into his body. We vetted the injuries he's had, and we're not concerned about those. We will have a chance to have a physical and continue to do a deep dive and make sure that what we've talked about and seen in the [electronic medical records]. ... So we'll still have that step in the process of doing a full physical before the trade becomes official."

Lakers rookie Dalton Knecht, along with Cam Reddish, a 2030 pick swap and Los Angeles' 2031 first-round pick, was the return going to Charlotte. The trade was agreed to Wednesday night and became official on a trade call to the league office Thursday after the Lakers' 120-112 win over the Golden State Warriors.

Because the deadline has passed, the trade was not allowed to be amended to account for whatever new medical information the Lakers might have discovered in their evaluation of Williams.

In a statement Saturday night, the Hornets said they are "excited" to welcome Williams back to the team.

"After the other team aggressively pursued Mark, we made the difficult decision to move him," the Hornets said. "We have always held great respect for Mark's talent, work ethic, and character. We are thrilled to see him rejoin our roster as a dynamic presence at the starting center position. His return strengthens our team, and we look forward to the impact he will make on and off the court."

Pelinka offered a different version of events, saying Thursday that Charlotte presented the deal.

"This opportunity came to us," he said then. "Maybe it's in some sense like the L.A. housing market. Not every house is listed. And sometimes you become aware of something that's available that's not on the market. And when you see the perfect house, you're willing to go get it, even if you have to be aggressive to do it. I think that's how we looked at the Mark Williams opportunity when we opened up discussions with Charlotte."

Williams was listed as questionable for the Lakers' 124-117 win over the Indiana Pacers on Saturday. Asked before the game if Williams would play, Lakers coach JJ Redick said, "The trade is still pending so no answer there."

The deal was supposed to give Los Angeles a vertical-spacing big man to play alongside Luka Doncic while also opening a roster spot for the Lakers to pursue another player on the buyout market. With the trade rescinded, the Lakers are back to 15 rostered players, meaning they would need to waive someone to open up room to sign a player. Los Angeles is $1.6 million below the second apron and cannot exceed that amount to sign another player.

The deal falling through also means the Lakers will be sticking with their current center rotation for the immediate future, with Jaxson Hayes in the starting role in the wake of the Anthony Davis-Doncic blockbuster. Behind Hayes are two-way centers Trey Jemison III and Christian Koloko.

The other big man on the roster, Christian Wood, has yet to play this season after suffering a setback in his rehab from knee surgery. There is no formal timeline for his return.