Expiring contracts at the deadline are just like unused caproom in the summer. It allows the Kings to accept bloated contracts either for good players who are way overpaid (Wiggins, Otto Porter etc) or poor players that teams will attach extra assets to just to get them off the books (Ryan Anderson, Melo etc).
I will bet my mortgage on it. No one is taking Randolph on a salary dump. Especially, when 2/3 of the teams will have money to spend next year. Kings are stuck with Randolph. The only smart thing to so is waive and stretch his remaining salary