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12:14pm: The deal is now official, according to Jason Jones of the Sacramento Bee (Sulia link).
7:28am: The Kings and Raptors have agreed to a trade that will send James Johnson to Sacramento in exchange for a future second-round pick, reports ESPN.com's Marc Stein. The second-rounder heading to Toronto is for 2014, according to SI.com's Sam Amick (via Twitter). Stein adds that the deal could be made official as soon as today.
Zach Lowe of SI.com notes (on Twitter) that the Raptors viewed Johnson as "more of a small-ball power forward" than a true small forward, but he'll likely play at the three for Sacramento, given the presence of Jason Thompson and Thomas Robinson at the four. Small forward was considered a need for the Kings this summer, with both Donte Greene and Terrence Williams hitting the free agent market.
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