According to NBA sources, Jimmer Fredette and the Sacramento Kings are close to finalizing a buyout agreement on Fredette’s contract.

Once the buyout is finalized, Fredette still needs to clear NBA waivers. If that happens, though, he’ll soon be a free agent.

Despite his outstanding college basketball career at Brigham Young University and being the 10th overall pick in the 2011 NBA draft, Fredette has struggled to find his place with the Kings.

Kings general manager Pete D’Alessandro said he has been working with Fredette’s representatives on the buyout agreement after trying unsuccessfully to place the third-year guard elsewhere prior to the NBA’s annual trade deadline last Thursday.

He said that Kings owner Vivek Ranadivé “loves Jimmer and wants to do the right thing by Jimmer. We’re just talking about things at this point. There’s nothing done at this point.”

"This league is funny. Stuff kind of comes out and it's just not there yet." -D'Alessandro on Jimmer situation

— James Ham (@James_Ham) February 25, 2014

“I think Pete D’Alessandro and Vivek Ranadivé, our owner, deserve a lot of credit,” head coach Michael Malone said prior to Tuesday night’s match up with the Houston Rockets. “Because we could just hold on to him and he could kind of finish out the season, go into free agency. But we’re trying to do this to help him out, to get (him) with a team where maybe he can get on a playoff roster and showcase his abilities in a different scenario…”

Fredette didn’t play Tuesday night. The Kings lost 129-103 on home court.

Jimmer Fredette has officially been added to the inactive list for tonight’s game against the Rockets.

— James Ham (@James_Ham) February 26, 2014

Coach Michael Malone confirms that Jimmer Fredette will not be in uniform tonight against the Rockets.

— James Ham (@James_Ham) February 26, 2014

“His three years here have not gone the way he would have hoped obviously,” Malone said. “But I have a lot of respect for him as a man and how he’s carried himself through some difficult times, so hopefully this will all be resolved soon and I always wish Jimmer nothing but the best.”

Among the teams rumored to be looking at signing Fredette should he become a free agent are the Memphis Grizzlies and the New York Knicks.

Knicks haven't ruled out Jimmer Fredette, league sources tell Yahoo, but organization's focus with two available roster spots: Defense.

— Adrian Wojnarowski (@WojYahooNBA) February 25, 2014

Fredette boasts a loyal fan base that has carried over from his glory days at BYU. “Jimmermania” is still going strong, with the hashtag #freejimmer making the rounds on Twitter.

#FreeJimmer is finally happening today! I'm pretty sure that February 26 will be a national holiday now.

— Cody Peake (@CodyDrSwagg) February 26, 2014

#freejimmer Where will he land? Thunder, Heat would be smart to pick up a shooter. My guess is Jazz or Knicks though. @jimmerfredette

— Spencer Burnett (@spencercburnett) February 26, 2014

The Kings dump @jimmerfredette and immediately get blown out by 26 at home. Coincidence? No way. #FreeJimmer

— Jeff Hofmann (@jeff_hofmann) February 26, 2014

Jimmer Fredette has been freed from the Kings. This is the Utah Jazz's opportunity to win. PLEASE TAKE IT. THANK YOU. #FreeJimmer #Jazz

— Callie Hansen (@WriteRepublic76) February 26, 2014

It's criminal the way the Kings "use" Jimmer. They simply don't. #FreeJimmer

— Josh Little (@JoshMLittle) February 23, 2014

Kings letting Jimmer waste another year. Frustrating. Can't wait 2 see where he ends up next year. #freejimmer #lethimplay @SacramentoKings

— Travis Hansen (@travishansen24) February 21, 2014

Something good is cooking in SACtown! #freejimmer #BYUSN #JIMMERrange! pic.twitter.com/4XCt3FvZnG

— Micah Ingalls (@IdoROCtheY) February 26, 2014

Image via Wikimedia Commons