The Kings and Milwaukee Bucks had hoped to bring Bogdanovic the framework of a sign-and-trade deal to negotiate a Bodanovic contract with Milwaukee on Friday, but he will move into the marketplace to find an offer sheet or seek out other sign-and-trade scenarios, sources said.
The Bucks and Kings had reached an agreement in principle early Tuesday on a sign-and-trade deal that would have brought Bogdanovic and Justin James to the Bucks, sources said.
The Bucks, who on Monday reached an agreement with the New Orleans Pelicans to acquire two-way guard Jrue Holiday, were looking to address their need for shooting around reigning back-to-back MVP Giannis Antetokounmpo by bringing in Holiday and Bogdanovic.
A versatile offensive wing built for the modern NBA, Bogdanovic, 28, attempted nine 3s per 36 minutes last season for the Kings and shot 37.2% from deep. That number jumps up to 40.7% on catch-and-shoot 3-pointers.
The Bucks have promised Antetokounmpo, who will soon be eligible to sign a five-year supermax extension, a reshaped roster to try to transform regular-season success into a championship push.