The Kings have agreed to trade guard Nik Stauskas and forwards Jason Thompson and Carl Landry to the Philadelphia 76ers, a league source confirmed.
The trade cannot become official until July 9 when the league moratorium on deals is lifted.
The Kings will receive the draft rights to overseas players in the deal. Sports Illustrated reported the Sixers will receive a protected first-round pick from the Kings and swap draft rights in two other drafts.
The trade clears more than $16 million in salary cap space, giving the Kings about $26 million to pursue free agents.
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The Kings are interested in guards Rajon Rondo, Monta Ellis and Wesley Matthews. Rondo is not known to have any other serious suitors besides the Kings.
Ellis is in Indiana meeting the Pacers while Matthews has received serious interest from Toronto and Dallas.
Stauskas was the Kings’ first-round draft pick last year and had a rough rookie season. He averaged 4.4 points and shot 36.5 percent from the field.
Thompson is the all-time leader in Sacramento history with 541 games played. He’s been a starter off-and-on in his seven seasons but became expendable when the Kings drafted Willie Cauley-Stein.
Landry was in his second stint with the Kings after signing a four-year deal in 2013. He missed most of the 2013-14 season with hip and knee injuries. He’s currently recovering from wrist surgery.