If the Kings were to accept a deal giving them Ray Allen and sending the Celtics Martin and Andres Nocioni, the deal could very well get done. I don't see Petrie doing that, however. That move would free up approximately $17 million off the Kings' cap this summer and free up Martin's money that runs through 2013 and Nocioni's through 2012. It doesn't bring back talent beyond this season, obviously, as Allen's contract is expiring.
Despite the Kings' hopes of landing an impact big man, don't expect Celtics GM Danny Ainge to give up center Kendrick Perkins (or point guard Rajon Rondo, for that matter, if I even needed to verbalize that part).
(h/t Celtics Fanatic)