From the Sacramento Bee:
In a trade of the most unorthodox kind, the Kings rescinded their qualifying offer to restricted free-agent forward Darius Songaila on Wednesday and received good karma in return.
While restricted free agents must sign multiyear deals, Songaila now can call this the mulligan of his free-agency periods, with all indications he'll do it all over again next summer in search of a bigger deal. After nearly a month trying to finalize Songaila's move to Chicago, Bartelstein said his client likely will sign a contract today that reportedly is for $2.2 million this season and has a player option for the second season.
I had no idea about that rule regarding restricted free agents and multi-year deals. Maybe this was the holdup all along, as the Bulls couldn't offer enough money in a multi-year deal that would make sense for Songaila to sign.
So the Kings do a good deed in lifting Songaila's 'restricted' status, and the Bulls get a great bargain. Maybe it's karma returning the favor for Paxson's handling of the Jay Williams release.