The Kings and guard Jimmer Fredette are finalizing a buyout agreement on his contract, Adrian Wojnarowski of Yahoo Sports reports.
Many teams are reported to have interest in signing Fredette for the season.
The Kings had trouble finding a taker on his contract, worth $2,439,840 this season and they declined his 2014/15 option before the season began. This would have made him a restricted free agent this summer.
The 25 year old has averaged 5.9 points per game for the Kings this season, and seven in his three years in the NBA thus far.