3:27pm: The deal is official, the Kings and Spurs announced via press releases. Sacramento will receive a 2016 second round pick in return for the guard.
10:01am: The Spurs and Kings have agreed to a deal that sends Ray McCallum to San Antonio and a future second-round pick to Sacramento, reports Marc Stein of ESPN.com (Twitter link). McCallum is making the minimum, but he’s on a three-year deal, so the Spurs can’t take on his salary without using cap space or a trade exception unless they end up sending salary to the Kings when the deal is finalized. That doesn’t appear to be happening, and the Spurs don’t have any trade exceptions. San Antonio is poised to go under the cap to sign LaMarcus Aldridge and others, so the use of cap space seems most likely for this McCallum deal.
The point guard, whose salary is non-guaranteed, ostensibly replaces free agent Cory Joseph, who’s agreed to join the Raptors, as Stein notes. McCallum is set for restricted free agency a year from now, but he at least provides temporary depth. The 24-year-old started 30 games for the Kings last season.
Sacramento has agreed to sign Rajon Rondo, and Darren Collison‘s still on the roster, so McCallum wouldn’t have been in line to do that again this year. The Kings picked the former Detroit Mercy standout 36th overall in 2013.