A person with knowledge of the negotiations says Aaron Brooks has agreed to rejoin the Houston Rockets, who drafted him in 2007.
The person spoke on condition of anonymity because Brooks has not yet signed a contract.
Brooks was waived by Sacramento on Friday. He would become the third point guard on Houston's roster, joining Jeremy Lin and Patrick Beverley.
Brooks, 28, played his first four NBA seasons in Houston, averaging 12.8 points and 3.6 assists per game from 2007-11. He was traded to Phoenix in February 2011, played briefly in China, then signed with the Kings before this season.
The Rockets drafted Brooks 26th overall. His best season in Houston was 2009-10, when he averaged 19.6 points and 5.3 assists per game and was selected the league's most improved player.