FRIDAY, 8:53am: Williams has signed with Guangdong, according to Alex Kennedy of HoopsWorld (Twitter link). Kennedy adds that a few NBA teams expressed interest in the 25-year-old, but wanted him to play in the D-League. As Kennedy notes, Williams could return to the NBA after the CBA's season ends in March (Twitter link).
It's not clear how Williams' agreement with Guangdong will affect Gilbert Arenas, who reportedly headed to China to try out with the team earlier this week. There were rumblings that Guangdong was looking to sign another NBA player instead of Arenas, so Williams could be that guy. It's also possible that both players will join the team.
THURSDAY, 10:31pm: Free agent guard Terrence Williams has agreed to sign a one-year deal with Guangdong in China, sources tell Adrian Wojnarowski of Yahoo Sports (via Twitter). Williams was waived last week by the Pistons along with Jonny Flynn.
The 25-year-old didn't have a great chance of hooking on with Detroit as they already had 15 guaranteed contracts, but he did have a big fan in coach Lawrence Frank, who he played for in New Jersey. The former lottery pick was praised for his athleticism and versatility heading into the 2009 draft but never got his footing in the NBA. Williams has averaged 7.6 PPG across three seasons in the NBA.