Oh, oh... we may lose Mo
According to the Miami Herald, the Miami Heat are in the process of seriously wooing Bucks free agent PG Mo Williams, and according to Williams' agent, he's receptive. Heat upper management, including coach Pat Riley, spent the day yesterday giving their pitch to Mo, whom the Herald describes as the most coveted point guard left available in free agency.
Luckily, there's only so much the Heat can offer. They are over the salary cap. Thus, if Williams did go to Miami, it wouldn't be for money. The Bucks have to hope that greed wins out, because losing Williams would leave them with a gigantic hole in their roster at the point guard spot. They are not in an enviable position.
No Better Options for Bucks
The Bucks are in a Catch-22 situation regarding Williams, caused mainly by the distortions of the NBA's free agent market. They have to sign him, but even if they do sign him, he won't be worth the money they will have to pay him.
That's because the NBA free agency system artificially increases the price for middling talent like Williams by selectively limiting the overall supply of talent available. If every player was made a free agent after every season, Williams would not be in such high demand, because he is a middle of the road point guard at best. But, because he is competing in a field in which his talent is now the best available, his market value has become grossly distorted, especially in the eyes of the Bucks. The Bucks are now in a position where they have no credible option besides Williams, which means he is worth well more to them than his productive value would naturally dictate. In short, the Bucks will have to spend a lot more money to prevent getting a lot worse, but the extra money spent won't make them a lot better, either.