I read today they signed him to trade him, I doubt it though.
Quote:
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There is some speculation that O’Sullivan will be moved from Los Angeles (with Toronto on the short list in landing him) and that the recent announcement of him signing a 3 year deal with the club was made in order to trade him, but the Kings would need to bring in salary in order to meet the floor as well as enough talent to move the young sniper to any team willing to fork it out for him.
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from PPP blog.