In a blog post for the Akron Beacon-Journal, Cavs beat writer Brian Windhorst says Danny Ferry is doing everything he can to land Mike Bibby:
As I've written on numerous occasions, the Kings want Gooden and cap relief. From the people I talked to today, they also want a point guard too. Ferry has been working on it as hard as he can, but so far hasn't been able to get the Kings to bite.
I think the ball is really in Sac's court, they are making this trade to start to rebuild and rid themselves of Bibby and his contract. It will come to them to bend probably.
Just about everyone close to the situation seems certain a deal will happen.