Whit is in the last yr of his contract so he is not on the books for next yr. So Williams will deduct off the current $36M in of available cap space for next yr.
He has a $12.5M cap hit next year (base salary only) for the last yr of his contract at age 31. Then he will need a new contract and for a guy who has missed 13 games the previous 3 yrs, that does not seem like a great move. And that's not even talking about the draft capital needed to pull off such a deal.
I am afraid this is looking like one of those yrs where things are just not going your way and so you suck it up, develop some young talent and come back next yr retooled.
If anything, maybe at some point you become sellers. Move a Peters for a pick or a young player. Same with Fowler if they think they have some upside with Obo, Patrick, or Durham.