Bogdan Bogdanovic is headed to the Atlanta Hawks.
The Kings spent the last two days deciding if they wanted to match the Hawks' offer sheet that Bogdanovic signed, and Tuesday night, they declined to do so, NBC Sports Bay Area's James Ham confirmed.
ESPN's Adrian Wojnarowski first reported the news.
If the Kings had matched the offer sheet, they would have retained Bogdanovic. Instead, they are letting him walk out the door for nothing in return.
Last week, the Kings and Milwaukee Bucks reportedly worked out a sign-and-trade for Bogdanovic that would have netted Sacramento three players, including Donte DiVincenzo. Within days, the deal fell apart and the NBA began an investigation into the matter.
The 28-year-old wing is the latest player to leave the Kings and sign elsewhere this offseason, joining Harry Giles, Alex Len and Kent Bazemore.
For now, the Kings will move forward with a core of De'Aaron Fox, Buddy Hield, Harrison Barnes, Marvin Bagley and 2020 first-round draft pick Tyrese Haliburton.