No deal appeared imminent Tuesday night, sources told ESPN, but Utah has registered its interest in bringing Williams back to his original team, with Dallas open to making both Williams and center Andrew Bogut available to other teams in advance of Thursday's 3 p.m. ET trade deadline.
Williams can't be traded without his consent, thanks to his one-year, $9 million deal with the Mavericks after he played the previous season in Dallas. The 32-year-old would have to forfeit his free-agent Bird rights if he is dealt to another team.
However, Williams remains fond of Utah and has maintained an offseason home in the Salt Lake City area, despite his trade from the Jazz to the Nets in February 2011.
Adding depth at point guard makes sense for Utah in part due to starter George Hill's injury issues. The Jazz are 23-9 when Hill plays and 12-13 when he sits.
Hill's left big toe, which sidelined him for almost all of December, continues to be an issue. He sat out Utah's Feb. 9 loss to the Mavs because of soreness in the toe but played in the final three games before the All-Star break.
Williams, taken No. 3 overall by Utah in the 2005 draft, is averaging 13.1 points and 6.9 assists per game in his second season with the Mavs. Injuries have limited him to 40 games.
Williams' recent toe injury helped open the door for rookie point guard Yogi Ferrell, who averaged 15.3 points and 4.6 assists during a seven-game stint as a fill-in starter. The Mavs went 5-2 in that span.
Dallas also expects backup point guard J.J. Barea to return from an extended absence due to a calf strain soon after the All-Star break.
Williams made two All-Star appearances and led the Jazz to four playoff appearances and four postseason series wins during his five and a half seasons with the team, highlighted by Utah's run to the 2007 Western Conference finals. But Williams' time with the Jazz did not end well, with legendary coach Jerry Sloan resigning after clashing with the headstrong point guard and Utah trading Williams to the Nets before the 2011 deadline, fearing losing him for nothing in free agency after the following season.
Utah has qualified for the postseason only once and has not won a playoff game since Williams' departure, but the Jazz's rebuilding process is paying dividends this season as they fight for home-court advantage in the first round.