3:51pm: Wojnarowski reports (via Twitter) that the proposed three-way deal would see Evans go to the Pelicans, Lopez to the Trail Blazers, and Vasquez to the Kings, with the Blazers sending out picks and cash. The specifics on the Portland picks and money aren't known, nor is it clear which team would receive them.
3:39pm: Jose Calderon has passed on an opportunity to sign with the Kings, clearing the way for the team to complete the three-way agreement that would see Vasquez land in Sacramento, tweets Adrian Wojnarowski of Yahoo! Sports. Wojnarowski adds (via Twitter) that the Pelicans had been hoping to sign Calderon and move Vasquez elsewhere.
11:11am: Sam Amick of USA Today confirms that trade talks are ongoing, but says the proposed scenario would be a three-way deal, with Vasquez going to Sacramento and Lopez heading to Portland. According to Amick, the Kings have "other situations still in play" but are looking to get something in return for Evans rather than just letting him walk (Twitter links).
7:49am: With Tyreke Evans preparing to sign a four-year, $44MM offer sheet with the Pelicans, the Kings do not plan to match the offer, according to Ailene Voisin of the Sacramento Bee. However, according to Voisin, the Kings and Pelicans are working on an agreement that would send Greivis Vasquez and Robin Lopez to Sacramento in exchange for a signed-and-traded Evans.
For Evans to be part of a sign-and-trade deal, he'd have to hold off on officially signing the Pelicans' offer sheet — once he signs, the Kings would only have the option of matching the offer or letting him walk. With the July moratorium extending into next week though, the two teams have plenty of time to work out an agreement, avoiding the need for that offer sheet.
The Pelicans had been attempting to move Lopez in order to make room under the cap for their offer sheet to Evans, so involving the two players in the same deal makes sense. Meanwhile, with New Orleans putting together a backcourt that includes Evans, Jrue Holiday, and Eric Gordon, Vasquez appears to be the odd man out.
It's not clear if only Vasquez and Lopez would be heading to Sacramento in the proposed move, or if more pieces would be involved, but the Pelicans would be able to absorb Evans into their cap space, so no further players would be required.
According to Jason Jones of the Sacramento Bee, the Kings' price to bring back Evans was something in the $8-9MM range, annually, which is significantly less than the $11MM annual salary the Pelicans offered. For him not to agree to New Orleans' offer, Evans was seeking a $12MM starting salary from Sacramento, says Jones.
While they debated whether or not to try to bring back Evans, the Kings also pursued Andre Iguodala, making him a four-year, $52MM offer. However, the club rescinded the offer when Iguodala was noncommital about signing it. With Evans seemingly on his way to New Orleans, the Kings could revisit Iguodala, but if they take on Vasquez and Lopez, their ability to make another big-money offer would be limited.
This post was first published on July 4th at 7:49am CST.