You can read about it here. The Kings apparently paid the full MLE for the shoot-first, decent defending, smallish point guard who isn't much of a distributor. Don't they already have Isaiah Thomas? Isn't he the same or better than Collison? Sheesh.
So much for the Clips prioritizing Collison. But no way they could or should pay him the MLE. The Clips need a backup for the typical mid-season Chris Paul injury, and Collison was better than decent in that role, but there's no way, not at that price.
Anyway, good luck to DC, he was a great pickup last year and played really well for the Clips.