That scenario seems to have taken place, as Shams Charania is reporting that Moreland is returning to the Kings on a one-year deal with "significant guarantees". Those guarantees likely come at a discount to the deal that Moreland would have had if the Kings didn't waive him (his contract would have become fully guaranteed for the year if he hadn't been waived), and give Sacramento more flexibility moving forward. Moreland will probably still have to beat out other candidates to make the team, such as training camp signing Vince Hunter.