The Sacramento Kings waived guard Scotty Hopson on Wednesday.

Hopson was recently acquired from the Houston Rockets along with Alonzo Gee and a pair of second-round draft picks in exchange for guard Jason Terry and a trade exception.

Ramon Sessions has agreed to a two-year, $4.2 million deal with the Sacramento Kings, sources tell Adrian Wojnarowski of Yahoo! Sports.

The Kings are using their biannual exception to sign Sessions.

Sessions' deal is fully guaranteed with no options, according to a source that spoke with RealGM's Shams Charania.

The Sacramento Kings worked out free agent Mickael Pietrus this week in Sacramento, league sources tell RealGM.

Pietrus is on workout trail as he remains unsigned. 

Ryan Hollins and the Sacramento Kings have agreed upon a one-year, fully guaranteed deal, according to a source.

Hollins, who will turn 30 in October, most recently played for the Los Angeles Clippers.

Hollins has played 435 career games since coming into the NBA out of UCLA in 2006.

The Houston Rockets have acquired Jason Terry from the Sacramento Kings.

The Rockets will also acquire Sacramento’s 2015 2nd round pick if it falls between 31 and 49, and New York’s 2016 unprotected 2nd round pick.

In exchange, the Rockets will send forward Alonzo Gee and guard Scotty Hopson to the Kings.

Terry spent the beginning of last season with the Brooklyn Nets before being traded to the Sacramento Kings.

In this episode, host Daniel Leroux (@DannyLeroux) goes in-depth on the Pacific Division with Jack Winter of Dime Magazine (@ArmstrongWinter) and Seth Partnow of Hoop365, Clipperblog, and the Hardwood Paroxysm Basketball Network (@SethPartnow). 

The three review the summer moves for all five teams including the ownership change for the Los Angeles Clippers and new coaches for the Golden State Warriors and Los Angeles Lakers.

In addition, they preview the season ahead including ranking the franchises, predicting the number of playoff teams, and selecting breakout players. 

Click here to listen or download. 

You can also click here to subscribe to the podcast on iTunes.

The Sacramento Kings will retire the No. 16 jersey of Peja Stojakovic on Dec. 16, when the Kings host the Oklahoma City Thunder.

In his eight seasons with the Kings, Stojakovic played more games for the Kings than any player during the Sacramento and had an immeasurable impact on the community both on and off the court. Stojakovic was a three-time NBA All-Star and NBA Champion

“Peja Stojakovic was instrumental in putting Sacramento on the map on a global scale,” Vivek Ranadivé said in a statement. “As one of only a select group of Serbian players in the NBA, Peja helped carve out a place for basketball players from all over the world. Recognizing his leadership will be a special moment for fans and the entire Kings organization, as well as a great reminder of the kind of success we are building in Sacramento.”

The Kings drafted Serbia-born Stojakovic in the first-round (14th overall) of the 1996 NBA Draft. In addition to leading the Kings in games played during the Sacramento-era, Stojakovic ranks first in Kings franchise history (1948-current) in three-pointers made (1,070) and attempted (2,687), and in free throw percentage (.893). He’s also ranked second on the Kings all-time scoring list with 9,498 points scored, third in field goals made (3,352) and attempted (7,269), and fifth in steals (543).

“My time in Sacramento was the best years of my career and truly some of the best years of my life,” said Stojakovic. “I am proud of what we built in Sacramento and the connection we made with the fans and the community. Kings fans are some of the best fans in the world, and it was an honor to play for them. I want to thank Vivek and the entire Kings family for welcoming me back for this celebration, and I look forward to following the exciting times ahead for the Sacramento Kings.”

Rudy Gay took an elbow to the top of his mouth in the third quarter of Team USA's win over Lithuania on Thursday.

"I've got a fracture in my jaw, a broken tooth and am going to probably need a root canal," Gay said. "The top is where I got hit. It's painful. It's uncomfortable, and it still bleeds, so I've got to continuously gargle. It is what it is, man.

"I think (the elbow) had a little bit to do with (the situation afterward)," Gay said. "It was a dirty play, man. It was a dirty play."

Gay had to receive treatment into the night before traveling to Madrid for the gold medal game.

After discussing a move to the NBA with the Sacramento Kings, Russian guard Dmitry Kulagin will sign a one-year contract to continue his pro career in Russia with Zenit Saint Petersburg, a source told RealGM.

Kulagin had been in discussions with the Kings over the past few weeks on a possible deal, but Sacramento has rounded its roster with training camp players in the last seven days.

Kulagin had declined an invitation to Summer League with the Kings in July. The 6-foot-6 shooting guard went undrafted in the June NBA Draft.

Kulagin averaged 7.3 points, 2.7 rebounds and 2.4 assists last season with Zenit St. Petersburg in Russia.

Ryan Hollins met with the Miami Heat on Friday, according to sources.

The Sacramento Kings, San Antonio Spurs and Chicago Bulls are also interested in Hollins.

Hollins spent the past two seasons with the Los Angeles Clippers.