This puts Jimmer in a position where he is an expiring contract which has value in the NBA. The Kings can trade him to a team looking to shuck a longer term contract, and the Kings have cap space next year with Salmon's contract not guaranteed after this year.
Jimmer's Larry Bird rights aren't much value to a team with too many guards and only $50K over the cap for this season, and with room next year.
They'll try to get some value for him and add a 3 or a 4 for depth elsewhere on the bench. He's only making $2.5MM this year, so the team that takes him will get a relatively cheap tryout for Jimmer in what is now a contract year and hopefully he can parlay extra playing time on another squad into a nice deal after this season. If he stays in Sacto this year, he's going to get a one or two year contract in free agency after the season for the league minimum.