ESPN.com reported that the Cleveland Cavaliers were also interested in Fredette.
Fredette was bought out by the Kings on Thursday, but he cannot sign a contract with a new team until Saturday if he clears waivers.
Fredette was selected by the Milwaukee Bucks with the 10th overall pick in the 2011 draft and was traded to Sacramento in a draft day deal involving the Charlotte Bobcats. He is averaging 5.9 points in 11 minutes per game in 41 games this season. MAHONEY: Buyout market primer: Players who could potentially join NBA title contenders