The deal is contingent upon league approval that could come as early as today. According to sources who did not want to be identified because of ongoing trade discussions, a 1 p.m. conference was scheduled between the two teams and league officials.
The Kings save almost $11 million in 2008-09 salary, which places the Kings right below the projected cap level. As I said this morning, this means they can at the least sign Beno Udrih, and possibly (pending other trades) make a play for another midlevelish free agent.
We'll keep you updated.