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Why for the Kings: Frees up a bit more cap space this Summer maybe to offer Rondo. They get an asset for Marco in an extra 2nd rounder. Solo might actually give this team some defense. Something they lack. They could bring him back next season for cheap.
Why for Indy: Marco gives us a pure shooter. He's a career 3pt specialist who's been with the Bulls, Spurs, and now Sacramento.
Again - Sacto can't receive two players while giving up one (no roster room) so better propose this without adding Solo in it. Works also then... Bud + 2nd for Belinelli.
Now I would be kinda ok with getting Belinelli although he is kinda player which requires his teammates to put him into the position to succeed. In well-oiled machine (like Spurs) he can drill trey and defend to team concept.
In a broken system (Kings) he can't do either thing. We are not very "smart" team so Belinelli might well fail here too...
But I would have one ABSOLUTE condition in order to do this. We would then HAVE TO move C.J. too... Belinelli & Miles play the same role and are absolutely redundant together.
I also slightly doubt whether acquiring Belinelli would really be a smart way to use one's salary room
So all things considered - this trade (without Solo involved) might help us to win a game or two more this season (wouldn't hurt anyway), but given 1) a bad fit with our current roster, 2) the length of the contract and flexibility thus lost. The verdict is (barely) No Thanks!