Ok, there's good news and bad news.

The good news: Matt Barnes is the player to be waived in order for the Kings to complete the DeMarcus Cousins trade, which sends out two players in exchange for three. Barnes has not had a good season this year, shooting 32.7% from three and playing inconsistent defense while hurting the team with off-court distractions and added complaints to the referees. The move signals a shift towards a proper rebuild with young players and draft picks the priority.

The Kings depth chart will look something like this before any more roster moves:

PG: Darren Collison, Ty Lawson, Langston Galloway

SG: Buddy Hield, Ben McLemore, Malachi Richardson

SF: Garett Temple, Arron Afflalo, Tyreke Evans

PF: Anthony Tolliver, Skal Labissiere

C: Kosta Koufos, Willie Cauley-Stein, Georgios Papagiannis

Rudy Gay, out for the season, takes up the Kings’ 15th roster spot.

Now the bad news:

Barnes has a player option for next season worth $6.4 million. According to CBA rules, buyouts count towards the salary cap. Basically, whatever amount the Kings pay Matt Barnes to go away this season will be dead money on the cap this season and the next.

All-in-all, a pretty terrible signing for the Kings. But a necessary sunk cost to deal with in the post-Boogie era.