He'll have plenty of opportunities either here or elsewhere to get back on track. If Mr. Rice doesn't think there should be repercussions and consequences for significant errors in judgment than he is part of society's problems.
Classifying having to wait out the legal process as a 'derailment' is a very poor simile. Horton can use this time off to reflect and better himself as a person (just as it seems King Rice did) and a basketball player. The decision to counteract this 'setback', which almost all people experience in early adulthood, including those who are ultimately successful or not, is no one's but Hortons.
He will get a second chance if he takes advantage of this mishap and uses it for reflection and self-improvement. And even if he doesn't, there is always room on a roster somewhere for a shooter.